Motorcycle Insurance – What you need to know…

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For anyone ready to hop on a motorcycle they will need to buy insurance whose policies vary depending on the type of bike you ride. Just like auto insurance or a life insurance policy, you will need coverage to ride your bike. Generally, coverage for a standard bike includes a “classic motor cycle insurance,” however motorcycle coverage also includes insurance for scooters, motocross bikes, dirt bikes and mopeds.

“As in the case of a regular car versus a sports car, if you jump on a high performance sport bike, you will be paying a lot more insurance [in terms costs] than on a regular motor cycle or a cruiser,” according one industry professional. Adding, “Different styles have different risk factors.”

Another specialist pointed out that every state has its own take or nuances in regards to motorcycle insurance. The menu of insurance for motorcyclists typically includes accessories coverage, bodily injury liability, collision coverage and comprehensive physical damage coverage, which actually resembles many auto insurance policies. Other coverage to be considered for a biker includes medical payments, no-fault or personal injury protection coverage and property damage liability coverage.

Different Types of Motorcycle Insurance

Collision Insurance: This type of insurance is a comprehensive policy that includes damage when a cyclist hits a car or is hit by another vehicle. This covers the costs of custom parts and accessories, including the replacement of helmets, saddlebags, backrests, seats, chrome pieces and CB radios.

Collision insurance is typically aimed at devices or enhancements that are not among those originally installed by the bike manufacturer. These can also include sidecars, trailers pulled by a bike and custom paint work. When it comes to this particular type of insurance, at least $1,000 of coverage is included in most states but added coverage can be purchased to cover equipment valued as much as $30,000. For each, the motorcycle owner selects the deductible.

Bodily Injury Liability Coverage: Motorcycle riders will get insured against certain damages if they injure or kill someone while operating their bike; this coverage also provides a motorcyclist with a legal defense if another party in an auto accident files a suit against the bike rider.

Meanwhile, medical payments, no-fault or personal injury protection coverage in most states allow a motorcyclist to select medical coverage for themselves and passengers. Some insurers limit coverage for medical treatment received within the first three years after an accident and this coverage can be limited to a specific dollar amount.

Property Damage Liability Coverage: This coverage insures a rider against certain damage caused to someone else’s property while they were operating their motorcycle. It also provides the rider with a legal defense if another party in the accident files a suit against the cyclist.

Also, a motorcyclist can get insurance coverage that pays for injuries caused by an uninsured driver in a crash is not the cyclist’s fault. When it comes to bodily injury and property damage if the driver is at fault and medical bills from injuries or property damage caused by the biker exceed certain limits, then the personal assets of the biker may be at risk.

Roadside Assistance: This policy can cover motorcyclists against property and casualty incidents for as little as $1 a month. Roadside assistance coverage provides for towing to the nearest repair facility and labor when the bike is disabled by a dead battery, a flat tire, mechanical or electrical breakdown or if you are trapped in mud or the snow.

Stolly Insurance Group can answer any additional questions that you may have …and provide you with insurance options that best fit your particular needs.

Give us a call today!