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What Kind of Motorcycle Insurance Do I Need?…

Choosing the right insurance policy is much like choosing the right motorcycle. You want it to fit your needs and lifestyle, but at the same time be within your budget.

In order to find out what coverage is best for you, it is important to understand all the options available.

Liability coverage
Liability insurance covers bodily injury and property damage that you may cause to other people involved in an accident. It doesn’t cover you or your motorcycle. Find out if your coverage includes Guest Passenger Liability, which provides protection in the event that a passenger is injured on the motorcycle.

Collision coverage
Collision insurance covers damage to your motorcycle if you are involved in an accident. Your insurance company pays for damages, minus your deductible, caused when you collide with another vehicle or object. Collision insurance usually covers the book value of the motorcycle before the loss occurred.

Comprehensive coverage
Comprehensive coverage pays for damages caused by an event other than a collision, such as fire, theft or vandalism. Like collision coverage, your insurance company will pay for damages, minus your deductible, and will cover only the book value of the motorcycle. Keep in mind most comprehensive and collision coverages will only cover the factory standard parts on your motorcycle. If you decide to add on any optional accessories such as chrome parts, a custom paint job, trailers or sidecars, consider additional equipment coverage.

Uninsured/underinsured motorist coverage
Uninsured/underinsured Motorist (UM/UIM) coverage covers damages to you and/or your property caused by another driver who either doesn’t have insurance (uninsured) or doesn’t have adequate insurance (underinsured). This coverage typically pays for medical treatment, lost wages and other damages. In some cases your UM/UIM coverage includes property damage—check with your insurance professional to see if property damage is included or needs to be purchased separately.

Motorcycle insurance can be a lot like auto insurance with coverage options, but be careful about choosing the right limits of liability and customization options. Most insurance policies for motorcycles do not cover customizations, they only cover factory installed equipment. Before you renew or buy motorcycle insurance review your policy carefully and call us for an On Your Side Review.

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