|
|
|
Buying motorcycle insurance is very similar to
buying automobile insurance. Typically, you will need the following
coverage:
- Liability insurance to cover you for
bodily injury or property damage resulting from an accident with
your motorcycle. Be sure to ask us whether your policy covers
injuries to your passengers. Some states require it, while others
don't. Also ask us about the amount of coverage you think you'll
need. Some states have a minimum required level of coverage, but
you may need more to protect you and your assets from the risk of
financial loss.
- Collision insurance to cover you for the
value of damage to your bike, after deductibles, that results from
an accident. If you are making monthly payments for your
motorcycle, your lender will require collision coverage.
- Comprehensive insurance to cover you for
loss due to fire, theft, vandalism, and other events not resulting
from an accident. Comprehensive coverage also carries a
deductible.
- Uninsured motorist coverage to pay your
medical bills and other damages if a driver without insurance hits
you. It may also cover damage to your bike. Be sure check with us
to see if property damage is included in your uninsured motorist
coverage. If it doesn't, you can purchase it separately.
- Underinsured motorist coverage to pay your
medical bills and other damages, if you are hit by a driver with
minimal insurance coverage and your damages exceed the value of
that driver's coverage. The underinsured motorist coverage will
pick up any excess not covered by the underinsured driver's
policy.
How to minimize motorcycle insurance
costs
Perhaps the best way to minimize
motorcycle insurance costs is to maintain a safe driving record and
try to attend a certified motorcycle safety class or if you have
multiple vehicles covered under one policy you may be eligible for a
multi-policy discount.
Eliminating collision and comprehensive coverage or
increasing your deductibles will also lower your premiums (however,
if there is a lien on the bike, you may not be permitted to do so).
Special safety or antitheft equipment may also be a way to
reduce your premiums. The number of miles you drive, the place where
you store the bike, the size and style of the bike, the horsepower
and age of the bike, may all affect your policy premiums as
well.
If you are having difficulty with the price of
motorcycle insurance, we invite you to discuss these issues with us.
You may be able to make some changes to lower your premiums without
taking on unacceptable additional risk.
Consider motorcycle insurance as a cost of
ownership
If you are in the process of
purchasing a motorcycle, it is always advisable to have looked into
the availability and price of motorcycle insurance before you
buy. It could be a factor in your decision making
process.
Learn More...
Auto Insurance
Overview | Understanding
The Basics | Coverage
Options
Safety
& Tips | Choosing
A Policy | Filing
A Claim | Car
Rentals & Motorcycles
Life
Planning Considerations
Home | Quick
Quote
Please Note:
The information contained in this Web site is provided solely as a
source of general information and resource. It is a
not a statement of contract and coverage may not apply in all
areas or circumstances. For a complete description of
coverages, always read the insurance policy, including all
endorsements.
|
