The risk of being on two wheels is one thing that makes motorcycling so exhilarating. You have your motorcycle and gear and are ready to take off, but you’re missing something. A motorcycle insurance policy to cover you in the event of an accident. Do you need motorcycle insurance? Many states require motorcycle insurance by law. Even if your state does not require motorcycle insurance, it is advantageous to purchase coverage.
Liability-In the event you cause an accident, liability coverage will pay for medical bills, loss of wages, and damage to others’ property. Property includes vehicles and objects.
Comprehensive– Your insurance will provide coverage if your motorcycle is damaged due to fire, flood, vandalism, or other non-accident related causes.
Collision-Your insurance will provide coverage if your motorcycle is damaged in an accident.
Bodily Injury & Property Damage– Covers injuries to other drivers and any damages to vehicles and property. In the event you are sued, your legal expenses will be covered.
Medical Payments-In the event of an accident, your medical bills and funeral expenses will be covered. This coverage extends to your passenger as well.
Uninsured or Underinsured Motorist Coverage– If you are in an accident caused by a driver without insurance or who is underinsured, your insurance policy will fill in the gap and cover medical bills and loss of wages. Any individuals riding on your bike will also be covered.
BENEFICIAL OPTIONAL COVERAGES INCLUDE:
*Policies can be customized to include these coverages, they are not automatically included:
Roadside Assistance– If your motorcycle breaks down, your insurance will pay for towing, gas delivery, and minor repairs.
Trailer Coverage– You can add this additional coverage to cover the trailer used to transport your motorcycle.
Trip Interruption– If your motorcycle breaks down, lodging, food, and transportation can be covered.
Accessory Coverage– Loss of accessories or damage to accessories including wheels, paint, and equipment will be covered.
Myths Vs. Facts:
Whether you’re a weekend warrior, a casual rider, or a hardcore motorcyclist, you will probably have heard of the many myths surrounding Motorcycle Insurance. Here are several such myths, and the facts that prove them as just that. The reality is that these are just myths and none are truth. You will also find below a few tips on how to save on your Motorcycle Insurance.
Myth: I only need the state minimum coverage; if I am involved in an accident I won’t cause too much damage with my motorcycle.
Fact: Just because your motorcycle may not do a lot of damage if it hits something does not mean that you won’t cause an accident that causes a tremendous amount of damage. Don’t be pennywise and pound foolish!
Myth: Cancelling my insurance during the winter months will save me a lot of money and with my bike parked in my garage it is covered under my Homeowners Insurance if it gets stolen or damaged.
Fact: Homeowners coverage does not protect motorcycles, and you most likely will pay more when you buy a new policy in the spring with a lapse in coverage.
Myth: My Car Insurance will cover all injuries or damage from a motorcycle accident.
Fact: Motorcycles are specifically excluded from coverage under most auto insurance policies.
4 TIPS ON HOW TO YOU CAN SAVE ON MOTORBIKE INSURANCE
Shop Around: Do not assume that the policy and company that you currently have is the best just because you have been with them. It is always good to shop for this, and all other insurance, every few years.
Discounts: You will want to invest in some quality gear for your Motorcycle but not in insurance premiums. Just as with Auto Insurance, there are numerous discounts available when you insure your Motorcycle through us. From multi-policy discounts to responsible driver discounts, there are over a dozen ways to save. Have you taken a motorcycle safety course? There is a discount for that! Do you belong to a motorcycle organization? There is a discount for that too!
Seasonal Coverage: Some Motorbike Insurance policies allow you to drop your collision coverage over the winter months and since it’s likely you won’t be riding anyway, by all means take advantage of this feature.
Deductible: With a variable range of deductibles available on comprehensive and collision coverage, you will find it may pay to get a quote on one as high as you can stand. You may be pleasantly surprised at the rate reduction.