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Motorcycle Insurance
Insuring a motorcycle is much like insuring an automobile.
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.
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.
Comprehensive coverage
Comprehensive coverage pays for damages caused by an event other than a collision, such as fire, theft or vandalism. However, just like collision coverage, your insurance company will pay for damages, minus your deductible.
Keep in mind most comprehensive and collision coverages will only cover the factory standard parts on your bike. If you decide to add on any additional optional accessories such as chrome parts, a custom paint job, trailers or sidecars, you need to look into obtaining additional equipment coverage.
Uninsured motorist coverage
Uninsured motorist coverage pays for medical treatment, lost wages and other damages if a driver who has no insurance hits you. If your uninsured motorist coverage includes property damage, then your cycle would also be covered under the same circumstances.
Tips for the cost-conscious rider
Many factors can play a role in determining what your insurance costs will be, such as being a graduate of a rider-training course, your age, your driving record, and the type of motorcycle you own.
- Find out what discounts your insurance representative offers. Multibike discounts for those insuring more than one bike; organization discounts, if you’re a member of a motorcycle association; and mature rider discounts for experienced riders, are just a few possibilities. Discounts can range anywhere from 5% to 20%.
