Tips & Advice
Are passengers covered under a motorcycle insurance policy?
Passengers are typically covered under a motorcycle insurance policy This coverage is usually included in the bodily injury and property damage liability coverage that is required by law in most states. If you choose to purchase medical payments coverage, this will help cover the medical bills of both you and your passenger if you're involved in a motorcycle accident.
What are the different types of motorcycle insurance coverage?
The different types of motorcycle insurance include liability coverage, comprehensive and collision coverage, total loss coverage, medical payments coverage, trip interruption coverage, optional equipment coverage, uninsured and under-insured motorist coverage, and towing and labor coverage. Motorcycle insurance protects standard motorcycles as well as scooters, mopeds, street-sport bikes, ATVs, high-performance bikes, vintage bikes, and cruisers.
How is motorcycle insurance different than car insurance?
Motorcycle insurance and car insurance can differ quite significantly when it comes to the cost of monthly premiums, and the average motorcycle will typically incur lower insurance rates than the average car. However, motorcycle insurance and car insurance are alike in that they are both legally required in most states.
Does motorcycle insurance cover theft?
Most comprehensive motorcycle insurance policies cover theft of your bike. This coverage is in place whether the theft happens at home, while traveling, or while your bike is being transported. Comprehensive motorcycle insurance policies also cover the theft of accessories or gear that might be stolen from your bike, such as helmets or mirrors.
Is motorcycle insurance required by law?
Motorcycle insurance is required by law in most states. Specifically, liability coverage is required, and each state has its own minimum liability limits. These liability limits cover both body injury and property damage. Check with your insurance agent to see what the motorcycle insurance requirements are in your home state.
How much motorcycle insurance coverage is necessary?
The amount of motorcycle insurance that is sufficient will depend on your financial situation, the cost of your bike, and your usage. In addition to state-required liability coverage, it's a good idea to purchase collision and comprehensive coverage, as well as uninsured and underinsured coverage, personal injury protection, and medical payments coverage. If you own a bike with high horsepower that is designed for racing, you are at greater risk for having an accident. Choose coverage that will provide adequate financial protection if a mishap occurs.
What factors impact the price of motorcycle insurance?
Your age, driving record, and the type of bike being covered will impact the price of your motorcycle insurance. Older bikes with smaller engines will typically be less expensive to insure. Maintaining a clean driving record will also make you eligible for lower rates. Rates also vary from state to state, and the more people there are riding motorcycles in your state, the lower your premiums will be. North Dakota, Iowa, and Oklahoma are known for having excellent rates.
How much does motorcycle insurance usually cost?
Motorcycle insurance can vary significantly when it comes to cost. If you are between 25 and 60 years old and are purchasing liability-only coverage for a cruiser or touring motorcycle, you can expect to pay $200-$500 a year for motorcycle insurance. Full coverage in this scenario would cost $400-$800 a year.
What does motorcycle insurance cover?
Motorcycle insurance covers related costs if your motorcycle is damaged, and it covers full replacement costs if your bike is totaled or stolen. It covers your hospital costs if your are injured in a motorcycle accident. Motorcycle insurance covers your liability if you are at fault in an accident, and it covers your expenses if an uninsured driver is responsible for your motorcycle accident.
What is motorcycle insurance?
Motorcycle insurance is coverage that provides financial reimbursement if your motorcycle is lost, stolen, or damaged, or if your are involved in an accident while riding your motorcycle. Motorcycle insurance includes liability coverage that protects you if you cause personal injury or property damage while riding your motorcycle.