Motorcycle Insurance

What Type of Motorcycle Insurance Coverage Do I Need?

Not all motorcycle insurance policies are created equal; which is why selecting the right coverage can be a daunting task, especially if it’s your first time purchasing specialty insurance.

Why Do I Need Motorcycle Insurance?

Motorcycle Insurance isn’t a choice – you must have a policy taken out on your bike in order to drive legally. Of course, this doesn’t mean that you have to purchase the most expensive coverage available. The minimum requirement in most states is for basic liability insurance. You can purchase higher coverage limits if you need it, but it’s not a necessity.

What Are My Motorcycle Insurance Coverage Options?

Liability coverage is mandatory. Collision insurance, comprehensive coverage and uninsured/underinsured motorist coverage are optional coverages that you may wish to add to your policy. Below are brief descriptions of the various coverage options for your motorcycle:

Liability Insurance:

This type of insurance covers any damage or injury you may cause to property or other people in the event you are deemed to be at-fault in an accident or collision. However, it doesn’t cover you or your motorcycle. Some policies may include coverage for a guest passenger as well, but this is not guaranteed.

Collision Insurance:

You can add collision insurance to your policy to cover your motorcycle if liability insurance isn’t enough to help you sleep soundly at night. Collision insurance pays for damage to your motorcycle, less your deductible. Even if the damage is your fault, this coverage will still apply.

Comprehensive Coverage:

This coverage protects your bike from non-accident related perils; including fire, theft and acts of vandalism.

Uninsured/Underinsured Motorist Coverage:

This coverage provides protection should you become involved in an accident caused by another driver, and the other driver is either without insurance or has inadequate insurance coverage. This provisional coverage will help pay for medical treatment, lost wages and other damages to you and your passengers. If your policy includes uninsured motorist property damage coverage, your bike would be protected as well.

Can I Tailor My Motorcycle Insurance Policy to Meet My Needs?

Most insurance companies allow you to put together an insurance policy that will provide the type and amount of coverage you need. You may want only want liability coverage, or perhaps you want to add uninsured/underinsured motorist coverage. It really all depends on factors such as your age, budget, type of motorcycle and how often you ride.

What to Consider When Comparing Motorcycle Insurance Quotes

When narrowing down the list of potential candidates, look at the quotes provided along with the coverage offered. If you find a reasonably priced policy with a respectable amount of coverage, you probably have a winner. And always take into consideration your own requirements – if a policy offers more coverage than you need, it may not be such a great deal.

Are Motorcycle Insurance Premium Discounts Available?

You may be eligible to take advantage of discounts on your premium. With higher-risk specialty insurance in particular, showing the insurer you pose less of a risk will almost always bring down premiums.

A good first step is to take a training course, such as the Motorcycle Safety Foundation rider course – this may land you up to 15% off your motorcycle insurance.

If you live in a northern state, you may be given the choice to purchase something called a “lay-up” policy, which takes away coverage during the winter months (when you won’t be riding) so you end up paying less for the coverage overall.

What Determines my Motorcycle Insurance Rate?

The type, style, and age of your bike, as well as the number of miles driven per year and storage used, are also large determining factors when it comes to calculating motorcycle insurance premiums. Keep these things in mind when shopping around for quotes.

In the end, you should look for a policy that fulfills your personal needs and expectations, and fits into your budget. By doing a little comparison shopping, customizing your coverage to meet your needs and taking advantage of available discounts, you can find the right policy for you and your bike.


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