If you own a motorcycle, you’re going to need high-quality insurance to protect yourself and others. Insurance is in place to protect you against loss if you get into an accident with another motorcycle or car. Like car insurance, there are different types of motorcycle insurance for different types of drivers as well as different types of motorcycles, so you can choose the policy that’s best suited to your needs. We’re here to break down everything you need to know about motorcycle insurance and why you need it.
Motorcycle Insurance Requirements
49 out of 50 states require some form of insurance for motorcycle drivers. Drivers need to show proof of insurance before they can register their motorcycle and receive a license plate. Insurance requirements vary by state, and each state requires a minimum amount of property damage and bodily liability insurance. Most states require at least $25,000 in bodily injury protection, $50,000 per accident, and $10,000 in property damage coverage—expressed as 25/50/10.
Motorcycle Insurance Coverage Options
While almost every state requires a minimum amount of liability coverage, additional forms of insurance are available if you want to extend your coverage.
Liability Insurance
Liability insurance covers bodily injury and property damage that affects others if you’re in an accident. It won’t cover any damage to yourself or your motorcycle. Guest passenger liability is an optional form of coverage in some states, which covers your passenger if you’re both involved in an accident.
Motorcycle Collision Insurance
Motorcycle collision insurance covers damage to your vehicle if you’re in an accident. Apart from your deductible, your insurance company usually reimburses you for the damage based on current market prices.
Comprehensive Coverage
Comprehensive coverage covers any damage to your vehicle that isn’t the result of an accident, including fire, theft, vandalism, etc. Like collision coverage, your insurer will pay for any repairs based on the current value of your motorcycle, minus your deductible.
Custom Motorcycle Parts Coverage
Should you get into an accident, most insurance companies will only cover the cost of damage to your motorcycle’s standard parts. Additional coverage for your custom motorcycle parts covers accessories, such as chrome parts, a custom paint job, trailers, and sidecars, if they’re damaged in an accident.
Uninsured/Underinsured Motorist Protection (UM/UIM)
If you’re in an accident with an underinsured or uninsured driver, UIM covers any damage the other driver’s insurance would typically cover. This usually includes medical bills, lost wages, and property damage when applicable.
Gap Coverage
Regular comprehensive and collision coverage only reimburses you based on the current book price of your motorcycle. Like cars, motorcycles depreciate in value after you drive them off the lot, so the amount of money you’re reimbursed for might not cover the original cost of your bike. Gap coverage helps prevent this by paying for the gap between what you owe on the motorcycle and its current worth.
If you own a motorcycle, or you’re thinking about buying one, you want your bike to be protected with the best comprehensive motorcycle insurance. It’s important to do your research as coverage needs can vary by bike, and some insurers only cover certain types of motorcycles. The General offers motorcycle policies that can help protect your bike now and into the future. Read some five-star reviews from satisfied customers or get a quote in under two minutes.
