What You Need to Know About Motorcycle Insurance

For motorcycle enthusiasts, a weekend trek with the motorcycle community is many rider’s idea of paradise. Don’t have the right motorcycle insurance? Paradise can quickly turn into something else.

To stay in motorcycle bliss, make sure to protect yourself, your precious bike and others.

Before selecting or renewing motorcycle insurance coverage, here’s what you need to know. First, you need insurance. Most riders are required by law to — at a minimum — to purchase liability coverage.

Motorcycle Liability Coverage: Bodily Injury and Property Damage

For motorcycle liability coverage, there are two different types: bodily injury liability and property damage liability.

Bodily injury liability helps cover costs for others if you cause the accident. It addresses medical costs, loss of income, as well as funeral costs in event of a fatality in an accident.

Property damage liability covers the damage to another motorist’s property.

Minimum liability insurance requirements vary by state. And while the minimum might get you by, only purchasing it could really hurt your financial situation if you’re at fault in an accident. 

Consider additional liability coverage:

  • To protect your financial assets from creditors. If you’re sued, your minimum liability may not cover all the legal costs and claims.
  • To protect your passengers. In some cases, bodily injury liability insurance will cover passengers. But check your coverage. You may need passenger liability coverage if you intend to have a friend or family member hop on the bike with you.
  • To protect yourself from others. Ever been in an accident with someone who didn’t have insurance and they’re at fault? Some states require you to carry uninsured/underinsured coverage. This will help provide coverage for injuries and, in many cases, property damage when a less conscientious rider can’t cover the liability expense.

Finally, some states also require a minimum medical benefit. Your health insurance may qualify, but let’s review the topic further.

Motorcycle Medical Payments Coverage

Required in some states and not available in others, medical payments coverage will pay for medical services — in many cases, up to one year from the accident — if you are injured in an accident. 

It’s not based on fault. It will pay for medical bills for you and, in many cases, a passenger if one or both are hurt while riding your motorcycle.

Medical services covered often include:

  • Hospital stays and visits
  • X-rays
  • Dental expenses
  • Prescription drugs
  • Nursing services

A word of caution for motorcycle medical coverage. While coverage can benefit riders, you should view it as a supplement, not a replacement, for health insurance.

Motorcycle Collision Coverage

Motorcycle collision coverage will cover the costs to repair or replace a bike, minus your deductible, if involved in a collision.

Collision coverage is not required. But if you love your bike, you might as well as treat it as required. One thing that can catch riders by surprise: the replacement value. Make sure to purchase enough coverage to replace your bike in case it’s totaled.

This is especially true of classic or custom motorcycles. Most insurers offer special coverage for these specialty bikes. With these motorcycles, you want to ensure you receive the actual value of the bike if you’re in accident or it’s damaged in some other way.

Which brings us to motorcycle comprehensive coverage.

Comprehensive Coverage for Your Motorcycle

Comprehensive coverage will pay the expenses for damage not related to a collision with another car or motorcycle. As with collision coverage, a deductible will apply.

Comprehensive coverage protects you and your bike in situations such as:

  • Theft
  • Fire damage
  • Weather damage
  • Vandalism
  • Animal collisions

Like collision coverage, with comprehensive, you will want enough coverage to pay for the total cost of the bike if you need to replace it.

Other Motorcycle Insurance Considerations

In addition to core motorcycle insurance coverage, insurers can offer options such as roadside assistance, trip interruption and custom parts coverage. 

Furthermore, if you live an area where you can’t make use of your bike year-round, ask about lay-up insurance. If you store your motorcycle in the winter, you pay a reduced insurance premium during those months. 

Finding The Right Motorcycle Insurance Coverage

When it comes to motorcycle insurance coverage, there is plenty to think through. We can work with you to find the right insurer and tailor a policy to get you on the road.

But even before connecting with us, consider doing the following to help reduce your insurance premiums:

  • Maintaining a good driving record with your auto policy
  • Taking a motorcycle safety class
  • Joining a motorcycle riders association
  • Limiting theft and non-use accident risks for your bike by installing an alarm and securing it a garage