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Buying motorcycle insurance is very
similar to buying automobile insurance. Typically, you will
need the following coverage:
- Liability insurance to cover you
for bodily injury or property damage resulting from an
accident with your motorcycle. Be sure to ask us whether
your policy covers injuries to your passengers. Some
states require it, while others don't. Also ask us about
the amount of coverage you think you'll need. Some
states have a minimum required level of coverage, but
you may need more to protect you and your assets from
the risk of financial loss.
- Collision insurance to cover you
for the value of damage to your bike, after deductibles,
that results from an accident. If you are making monthly
payments for your motorcycle, your lender will require
collision coverage.
- Comprehensive insurance to cover
you for loss due to fire, theft, vandalism, and other
events not resulting from an accident. Comprehensive
coverage also carries a deductible.
- Uninsured motorist coverage to
pay your medical bills and other damages if a driver
without insurance hits you. It may also cover damage to
your bike. Be sure check with us to see if property
damage is included in your uninsured motorist coverage.
If it doesn't, you can purchase it separately.
- Underinsured motorist coverage
to pay your medical bills and other damages, if you are
hit by a driver with minimal insurance coverage and your
damages exceed the value of that driver's coverage. The
underinsured motorist coverage will pick up any excess
not covered by the underinsured driver's policy.
How to minimize motorcycle insurance
costs
Perhaps the best way to minimize
motorcycle insurance costs is to maintain a safe driving
record and try to attend a certified motorcycle safety class or if you have multiple
vehicles covered under one policy you may be eligible for a
multi-policy discount.
Eliminating collision and comprehensive
coverage or increasing your deductibles will also lower your
premiums (however, if there is a lien on the bike, you may
not be permitted to do so). Special safety or antitheft
equipment may also be a way to reduce your premiums. The
number of miles you drive, the place where you store the
bike, the size and style of the bike, the horsepower and age
of the bike, may all affect your policy premiums as well.
If you are having difficulty with the
price of motorcycle insurance, we invite you to discuss
these issues with us. You may be able to make some changes
to lower your premiums without taking on unacceptable
additional risk.
Consider motorcycle insurance as a cost
of ownership
If you are in the process of purchasing a motorcycle,
it is always advisable to have looked into the availability and price of
motorcycle insurance before you buy. It could be a
factor in your decision making process.
Learn More...
Auto
Insurance Overview | Understanding The
Basics | Coverage Options
Safety & Tips | Choosing
A Policy | Filing A Claim | Car
Rentals & Motorcycles
Please Note: The
information contained in this Web site is provided solely as a source of
general information and resource. It is a not a statement of
contract and coverage may not apply in all areas or circumstances. For a complete
description of coverages, always read the insurance policy, including
all endorsements.
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