Ride with Confidence: Essential Motorcycle Insurance Coverage
Living in the moment is crucial when riding – you don’t want “what-ifs” cluttering your mind. Choosing the right coverage takes time but is essential for peace of mind and legal compliance.
Cost Considerations: Riding history, age, and location impact insurance premiums. Comparing quotes helps find suitable rates, with potential discounts available, such as completing a motorcycle safety course.
Coverage Requirements: Liability insurance is mandatory for motorcycle owners in 48 states, meeting state-established minimums for bodily injury and property damage liability is vital before riding.
Understanding Liability Coverage: Liability insurance covers accident-induced losses, including bodily injury and property damage. Bodily injury covers medical bills, lost wages, and funeral expenses, while property damage covers damage to others’ property, excluding your own.
Exploring Coverage Options: Once meeting state requirements, you can decide on additional coverages, which vary by state or are optional nationwide. Reviewing your policy ensures you have the necessary coverage.
FAQ’s
Q: Can I put my motorcycle insurance on hold?
A: Not exactly. Some insurers offer “lay-up” policies that reduce coverage while your bike is stored. This usually keeps comprehensive coverage for theft, vandalism, and fire, but reduces or pauses liability and collision.
Q: Can I ride without insurance?
A: Almost everywhere, it’s illegal. Penalties include:
- Tickets
- Fines (thousands of dollars!)
- Impounded motorcycle
- Covering all accident costs yourself.
Q: How much insurance do I need?
A: It varies by state, but all require minimum liability coverage. Loan/lease agreements often require comprehensive and collision too.
Q: How can I save on motorcycle insurance?
A: Discounts are available for:
- Completing a safety course
- Belonging to a motorcycle rider group
- Bundling your insurance
Q: Can I get insurance for a stored motorcycle?
A: Some insurers offer “storage insurance” (lay-up) for theft and damage while your bike is stored. Be sure it doesn’t lapse if you take your bike out. Storage insurance options are becoming less common.
Tip: Maintaining proper coverage is crucial for responsible motorcycle ownership. Reducing coverage while your bike is stored might not save much money compared to the risks of being uninsured.
