What You Should Know About Motorcycle Insurance

You just bought your first bike and are thrilled because very soon you are going cruise and enjoy the freedom that can only be felt on a motorcycle but wait. First, you need to understand the laws of insuring a motorcycle and how to buy motorcycle insurance.

Where you live, state and county, will determine which the rules are and what type of coverage is optional or required. This article will show you 10 things you should know about motorcycle insurance.

The liability coverage will protect you should you be involved in an accident where you are found to be at fault. Your liability coverage will cover medical costs, lost wages, and other related expenses to the other driver and his passengers.

Guest/Passenger coverage is designed to protect your…err…passenger. In the unfortunate case of an accident, your passenger is covered for injury, lost wages, and other related expenses.

Underinsured coverage protects you from the other driver. Should the other driver be at fault in an accident and not carry adequate liability insurance your underinsured coverage will pick up the balance of your medical costs, lost wages, and other related costs.

It works basically like underinsured coverage. The only difference is that the other driver carries no insurance and is at fault in the accident. Even when the law requires drivers to carry insurance not all drivers obey the law. Uninsured coverage ensures you will be covered for injuries and related costs no matter what.

Collision insurance protects your motorcycle. If you are in the wrong in an accident, collision coverage will cover the repair or replacement of your bike. This coverage is only valid if you are operating your motorcycle on a recognized roadway. It will not cover you or your bike if you are off road riding on your cruiser, ha!

Comprehensive insurance covers theft, glass, vandalism, and acts of nature such as wind or hail damage. Because a bike has a higher risk of damage, comprehensive insurance can be expensive. The value of your bike will determine the cost of comprehensive insurance. Keep in mind that a bike has a higher chance of being stolen or knocked over by a windstorm than a car does. Even though comprehensive coverage may be a bit pricey, you should certainly consider carrying it.

You can get coverage for items such as your stereo, tinted glass, or custom tires and paint. Most insurance companies can provide you with a rider to cover additional equipment not covered by the basic policy.

This coverage is very similar to that offered by automobile clubs. It will reimburse you, up to the maximum stated, to have your motorcycle towed to a garage.

If you have a good driving record, you will qualify for a discount. How large of discount will depend on how many years of accident free driving you have combined with how many years you’ve gone without a traffic violation. If you are a member of a motorcycle association such as the Gold Wing Road Riders or the Harley Owners Group, you could also qualify for an additional discount.

You should tailor your policy to meet your personal needs. You can reduce premiums by paying a larger deductible, or opting out of coverage that you feel you do not need. Much of this will depend on your personal financial situation and the value of your bike.

Get ready to enjoy the freedom while cruising down the highway on your motorbike and relax knowing you have the right insurance.