Motorcycle Insurance 101: What Does Motorcycle Insurance Cover?
There were over 12 million motorcycles in use in 2018, up more than 2 million from 4 years earlier. That’s a lot of bikes on the road and every one of them needs motorcycle insurance.
Insuring a motorcycle is a bit different than a car or truck though. Let’s dive into Insurance 101 for motorcycles to see how to choose the right policy.
Types of Bikes and Vehicles Motorcycle Insurance Covers
There are quite a few different types of motorcycles, each with their unique needs. The most common ones include:
- Cruisers: The most familiar type of motorcycle to most people.
- Sport bikes: High-performance street or racing bikes.
- Touring bikes: A more luxurious version of the cruiser that’s built for comfort over long distances.
- Vintage: Classic or collectible bikes, usually at least 25 years old.
- Dirt bikes: Lightweight bikes with off-road tires and suspension.
Each type of bike has its own set of motorcycle insurance needs. Choice Plus Insurance Services can help you find the right policy for the type of bike you ride, and where you ride it.
Types of Motorcycle Insurance and What They Cover
There are several types of insurance coverage that could be part of your policy. Each type of coverage deals with different situations.
Situation: You Damage Another Vehicle While Riding Your Motorcycle
Type of coverage: Liability
Motorcycle Liability insurance covers damage or injuries you cause such as damage to other vehicles, damage to stationary objects, injuries to occupants of other vehicles, and protection against lawsuits if you’re sued by another driver.
Situation: Your Bike Gets Damaged by a Rock Kicked Up by Another Vehicle
Type of coverage: Comprehensive
Comprehensive Motorcycle insurance covers damage to your motorcycle from all kinds of things that may or may not be due to it being on the road. This can include theft, damage to the body or windshield, fire and vandalism, and damage caused by the bike getting knocked over when parked.
Comprehensive coverage can even help with damage caused by hitting wildlife, such as a moose or deer that runs across the road where you can’t avoid hitting it.
Situation: Your Bike Gets Damaged in an Accident with a Driver Who Has No Insurance
Type of coverage: Uninsured/Underinsured Motorist
Statistics have shown that over the last 20-plus years, anywhere from 12 to 16 percent of drivers have no insurance. If you’re in an accident with one of them, uninsured motorist protection will ensure you aren’t stuck paying those bills.
Underinsured motorists pose a similar threat. If you’re in an accident that is the other driver’s fault and they don’t have enough insurance coverage, you could end up with bills to pay if the insurance claims go beyond their coverage.
Other Optional Choices When getting Motorcycle Insurance Coverage
There are several types of optional coverage that you may want to consider for your motorcycle as well. If your bike sports any custom equipment, custom equipment coverage will ensure it’s protected.
OEM parts coverage will guarantee that any damaged parts will be replaced with original equipment manufacturer parts, even if they’re more costly than a generic part.
Total loss coverage will replace your bike with a new one, or pay you the full cost of your bike, in the case of it getting damaged beyond repair.
Roadside assistance and towing coverage will provide help if your bike breaks down somewhere. It will be repaired on the spot if possible otherwise, it will be towed to a repair shop.
How to Choose the Right Motorcycle Coverage for Your Bike
Hopefully, this “Insurance 101” information for motorcycles gives you a better idea of the types of coverage available. But knowing what’s available is only half of the equation. You also need to know how to find the best insurance policy at the best possible price.
Choice Plus Insurance Services has you covered. We offer a range of insurance policies for every part of your life including your motorcycle. We’ll help you find the right coverage for your needs at the lowest possible price.
Get in touch with us today to get a free quote for your motorcycle insurance.