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:
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.
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.
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.