Here’s what you need to know before you head out on the open road.
Whether it’s the element of danger, speed, power, or just simply the thrill of them, motorcycles are more than a hobby; they’re a passion. And anyone who’s owned one knows that there’s nothing more exhilarating than riding out on the open road and releasing your sense of adventure as the breeze blows across your cheeks. Now that spring is here, more and more motorcyclists will be hitting the road. And if you’re a bike owner, or you’re about to move into the ranks along with legends like Marlon Brando, Bob Dylan, and Clint Eastwood (to name just a few), it’s important to make sure that you have the right insurance to protect you and your machine. Here are some tips and important facts you need to be aware of when it comes to insuring your bike:
Know the insurance requirements in your state
The amount and kind of coverage you need for your motorcycle depends on where you live. Many states’ requirements are similar or exactly like their car insurance requirements, and each state has its own minimum coverage limits. If you’re not sure of your state’s laws, it’s recommended that you find out before purchasing anything—any provider in your area should be able to advise you.
Important facts you need to know
One of the most important things that you need to be aware of when it comes to insuring your motorcycle is that your auto policy will not cover you in the event of an accident on your bike. Many motorcycle owners make this mistake and find out the hard way after something has happened. You should also be aware that:
- ♦ It doesn’t matter if you only ride on the weekends or vacations, you need motorcycle insurance all the time.
- ♦ Motorcycle thefts are not uncommon: Tens of thousands of bikes are stolen each year, with the top states in theft being California (6,355), Florida (3,981), Texas (3,274), South Carolina (2,146), and North Carolina (2,117).
- ♦ Consequences of having an accident on your bike without motorcycle insurance include: Possible loss of license and registration of your motorcycle, potential judgments against you, and required restitution to the other driver
The different types of motorcycle insurance
Just like auto insurance, there are several polices that are available for motorcyclists and while you may not want or need all of them, you do want to make sure that you are fully protected.
This type of policy will protect you if you have an accident and cause damage to another person. It covers both bodily injury and damage to property. Check with your insurance provider or with your State DMV to get information on the requirements where you live.
Guest liability insurance
Riding your motorcycle can be twice as fun when you have a friend onboard. And with a guest liability policy, you’ll be assured that he or she is protected if you have an accident.
Personal injury protection
PIP insurance is not always required, but in states that are “no-fault,” this policy ensures that you will have coverage to pay medical expenses, and it will reimburse you for lost wages if your injuries cause you to be out of work.
Because it’s not uncommon for a motorcycle to be stolen, comprehensive coverage is a smart option. With this type of insurance, you’ll have the peace of mind that if your bike is ripped off, vandalized, or damaged in an unexpected event, you’ll be covered.
Uninsured motorist coverage
While we’d all like to think that everyone on the road is as responsible as we are, many people don’t have the required insurance. An uninsured motorist policy protects you if you happen to have an accident with one of these individuals. It also covers you if a motorist is underinsured and they don’t have adequate coverage to pay for all of the damages or injuries.
As the days get longer and we get deeper into summer, you won’t be able to resist the temptation to hop on your bike and head out—just remember to make sure that you are appropriately covered. For more information on motorcycle insurance solutions, get in touch with us today.