Motorcycle insurance shares similarities with car insurance, but there are distinct differences to be aware of when searching for a policy. After you purchase your first motorcycle, be sure to do your research into the right insurance policy.
Is Motorcycle Insurance Required?
Legal motorcycle insurance requirements are determined by individual states. Be sure to check with your state to determine how much insurance you’re required to have.
You don’t necessarily need motorcycle insurance in order to get a motorcycle license. This depends on your state’s regulations. Some states only require insurance once you are on the road while few don’t require it at all.
What Does Motorcycle Insurance Cover?
A full coverage motorcycle insurance policy generally comes with:
Comprehensive Coverage: Comprehensive coverage provides compensation for loss of or damage to the motorcycle due to fire, wind, hail, theft, vandalism and other incidents not involving collision.
Collision Coverage: Collision coverage provides compensation for loss of or damage to the motorcycle due to collision with another vehicle or object.
Liability: Liability insurance covers bodily injury and property damage you may cause while operating the insured motorcycle.
Guest Passenger Liability: Guest passenger liability covers bodily injury and property damage a guest may cause while operating the motorcycle with permission.
Medical Payments Coverage: Medical payments coverage provides compensation for medical expenses for the driver and their passengers after an accident.
Uninsured/Underinsured Motorist: This coverage provides compensation for damages incurred by an accident involving an uninsured driver.
Roadside Assistance: Roadside assistance provides assistance for trip interruptions such as running out of gas, flat tires and towing.
How Much is Motorcycle Insurance?
Motorcycle insurance premiums, which are the monthly payments for coverage, depend on many different factors. Your age, gender, location, coverage limits, driving record, credit score and the value of the motorcycle can all have an effect on insurance costs.
Keep in mind that there is no separate driving record between your car and your motorcycle. Any accidents or claims made concerning your car will influence your motorcycle insurance rates and vice versa.