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Motorcycle Insurance

Motorcycle Insurance

The purpose of motorcycle insurance is to provide financial assistance if your motorcycle is stolen or damaged. It also offers assistance to pay for damage or other costs associated with an accident. If you own a bike you should at least have liability coverage on the vehicle.

Types of Coverage

Primary insurance for a motorcycle includes coverage for costs related to damages to the motorcycle. Your policy may pay all or part of the expenses, minus any deductible for which you are responsible. You will also have liability coverage if you harm another person or their property.

However, you will probably want additional coverage for your motorcycle. Based on your insurance provider, some optional choices might include:

  1. Payments for medical coverage in the event you need hospitalization or medical care.
  2. Comprehensive coverage to pay for losses or damages due to things other than a collision. For example, this will cover damage caused by animals and weather disasters.
  3. Coverage for damage or loss to motorcycle customizations and gear. This includes items such as sidecars, transport trailers, and helmets.
  4. Full replacement coverage in case the motorcycle is destroyed beyond repair.
  5. Uninsured/underinsured coverage offers you financial assistance when you have an accident with an at-fault driver who doesn’t have enough insurance to cover your repairs.

Keep in mind that the amount of coverage you need depends on several things, such as the kind of motorcycle you have and its age.

What You Need to Know

Motorcycle insurance is similar to auto insurance, in that it provides the same type of coverage except for a motorcycle instead of a car. One major difference is that car insurance is mandatory to legally drive a vehicle in the U.S., but motorcycle insurance is only mandatory in some states. It’s important to learn whether your state requires motorcycle insurance.

If nothing else, you should seriously consider liability coverage. If you cause an accident, then liability will help you pay for any associated costs. The amount of financial help you receive depends on your policy.  Your coverage might also cover medical bills for you and any passenger on your vehicle at the time of the accident.

Your motorcycle is a major investment. Be sure it’s properly covered by a good motorcycle insurance policy.