What Is Motorcycle Insurance?

Motorcycle insurance, also referred to as motorcycle coverage, is a type of vehicle insurance that specifically protects owners of motorcycles, scooters, and mopeds. While some aspects are similar to car insurance, motorcycle policies have unique coverage options designed for riders and their bikes. This blog post will provide an overview of motorcycle insurance, including what kinds of coverage are available, factors that influence premium rates, requirements in different states, and tips for buying a policy.

Types of Motorcycle Insurance Coverage

There are several key types of coverage that motorcycle insurance policies typically provide:

Bodily Injury Liability: This coverage helps pay medical expenses or claims for those injured if the policyholder causes an accident while operating their motorcycle. Minimum requirements vary by state but are usually at least $15,000 per person and $30,000 per accident.

Property Damage Liability: Similar to bodily injury coverage but for damage to other vehicles, property, or structures caused by the insured motorcyclist. State minimums generally start around $10,000.

Medical Payments or Personal Injury Protection: Covers medical bills and lost wages of the policyholder and passengers if injured in an accident regardless of fault, up to a certain limit like $10,000. Some states require this coverage.

Collision: Pays to repair or replace the insured motorcycle if involved in a collision with another vehicle or object. The owner is responsible for paying a deductible which is usually higher for motorcycles than cars.

Comprehensive: Covers damages to the motorcycle from events other than a collision, such as theft, vandalism, fire, explosions, falling objects, natural disasters, and collisions with animals. Also subject to a deductible.

Uninsured/Underinsured Motorist: Provides protection if the at-fault driver in an accident does not have enough insurance or any insurance at all to pay claims. Covers costs beyond what the other driver’s policy provides up to selected limits.

Factors Affecting Cost

Just like automobile rates, many factors go into determining a motorcycle insurance premium:

• Motorcycle model and value affect rates – Newer/expensive models cost more to insure than older/basic ones.
• Riding experience influences rates – A newer motorcycle rider pays more versus a motorcyclist with years of riding under their belt and no accidents/violations.
• Marital status is considered – Married riders are statistically safer than single riders and often qualify for discounts.
• Usage matters – Motorcycles ridden only occasionally during certain months may get seasonal discounts.
• Location plays a role – Urban areas pose a greater risk than rural locales due to traffic density. Premiums reflect accident data by ZIP code.
• Driving record counts – Speeding tickets, DUIs, and accidents result in higher-than-average motorcycle insurance premiums.
• Coverage level selected impacts price – More extensive coverage means higher rates versus just required minimums.

Insurers use these and other rating factors to assess the unique risk profile of each applicant and determine equitable monthly payments. However, not all factors can be changed so it helps to maximize available discounts where eligible.

State Requirements

While some motorcycle insurance regulations mirror auto insurance laws, requirements differ from state to state. For example:

• 34 states require minimum liability coverage while 16 states require no motorcycle coverage at all. Limits range widely from $10,000 to $25,000 per person injured.
• 11 states and Washington D.C. mandate personal injury protection or medical payment coverage be purchased.
• 29 states and Puerto Rico have some form of mandatory helmet-use laws that impact premium rates for riders.
• Each jurisdiction also specifies who must be insured (e.g. drivers and passengers) and proof of insurance documentation carried.

Researching state Department of Insurance websites or consulting an agent helps ensure compliance with local statutes when obtaining motorcycle protection. Following regulations can help avoid fines and liability otherwise.

Purchasing Coverage

Interested individuals have several options when buying motorcycle insurance:

1. Contact an independent insurance agent – Local brokers represent multiple carriers and shop plans/rates from several competitors at once.
2. Purchase directly from companies online – Some insurers like Progressive allow applying and paying fully digitally with no agent involvement.
3. Consider group plans – Association memberships may provide discount programs for two-wheel coverage.
4. Check through a motorcycle club affiliation – Groups negotiate dedicated member rates not available elsewhere.
5. Explore specialty insurers – Select companies focus solely on motorcycle products.

Most policies can be bound immediately with a payment method and proof of eligibility like a license. Effective dates are planned for an uninterrupted transition from prior coverage, if any. Car insurance holders may receive dual policy savings too. Always compare rates to find the most competitive monthly premium.

Additional Insurance Options

Beyond basic liability protection, several supplemental coverage choices exist for motorcycling enthusiasts seeking extra security:

• Roadside assistance – Provides help if breaking down from things like battery jumps or fuel delivery.
• Trip interruption protection – Reimburses certain travel costs if the bike is damaged and repairs delay return home.
• Accidental death benefit – Provides an additional payout to beneficiaries in the event of a fatal motorcycle crash.
• Motorcycle theft reward – Offers financial incentive information leading to recovering a stolen bike.
• Accessories coverage – Covers specialty components, custom parts, or add-ons beyond the factory value if lost/damaged.
• Rental reimbursement – Pays a daily allotment while the insured motorcycle is in the shop post-accident.

Depending on the needs of the individual rider and the value of their bike, these ancillary endorsements may offer worthwhile protection against losses not covered as standard. Costs can vary but are often very affordable additions.

Additional Discounts

Taking advantage of discounts is a great way for motorcyclists to potentially lower overall insurance spending. Common savings opportunities include:

• Multi-policy (bundling auto + motorcycle)
• Multi-vehicle
• Defensive riding course completion
• Active military service
• Continuous coverage
• Anti-theft devices (like alarms)
• Good student status or honor roll
• Advanced rider training beyond basic licensing
• Passive anti-theft measures like bikes placed in private garages
• Low annual mileage or part-time riding designation
• Affiliation with named driver policies

Being proactive about eligibility and leveraging qualifying factors results in substantial price breaks from insurers acknowledging reduced risk factors. Always inquire about special offers and ask what else may merit preferred rates.

Tips for Filing a Claim

Despite efforts to ride responsibly, accidents can still happen. Knowing the proper procedure in the event of a claim makes the process less stressful:

• Contact the insurer promptly after any covered incident.
• Follow instructions on preserving evidence and taking pictures before moving vehicles.
• Get law enforcement and witness information involved at the scene, when possible.
• Do not admit fault or sign statements until speaking with the motorcycle insurance provider first.
• Submit all required documentation fully and on time, such as bills, estimates, and photos.
• Stay in contact and be responsive to insurer questions throughout repairs/settlement.
• Understand rights to dispute denials and seek partial reimbursement if not satisfied.

The following protocol ensures smooth claims handling. Most policies also provide suggestions for emergency procedures and 24/7 emergency roadside assistance access.

Conclusion

As motorcycle ownership continues growing in popularity across diverse demographics, purchasing adequate coverage becomes increasingly important. Specific protection like liability, collision, and comprehensive coverage offers peace of mind that medical bills, property damage claims, accident losses, and vehicle repair costs will not cause excessive financial strain. Factors like usage patterns, safety measures, driving records and available discounts all merit evaluation when budgeting premium costs. With attentive policy selection and prompt handling of any motorcycling claims that arise, proper insurance safeguards both riders and their bikes.