Motorcycle Insurance

The purpose of motorcycle insurance is to provide financial assistance in the case of an accident or other incident that causes damage to the motorcycle, riders, and any property that is impacted. Motorcycle insurance also covers costs of repairs to any other vehicle or person that is involved in the accident if the accident is deemed to be the motorcyclist’s fault. This can help cover costs of lawsuits and settlements, in some cases.

Purchasing Motorcycle Insurance

When purchasing motorcycle insurance, the motorcycle owner must find a plan that provides an adequate amount of coverage. The motorcycle insurance policy should provide enough to cover repair or replacement costs for the motorcycle. The motorcycle owner must find a balance, as more motorcycle insurance coverage options and higher amounts will result in higher periodic premiums. Premiums can usually be paid monthly, bi-annually, or annually.

Motorcycle Insurance Premiums

There are a few factors that will affect the price of the premium. The deductible amount is what must be paid for repairs or medical fees before insurance will cover costs. A higher deductible will result in lower periodic premiums, but may be difficult to come up with after an accident or incident. The maximum amount of coverage is an amount than can be raised or lowered according to the motorcycle owner’s preference and price range. There may also be discounts available for taking safety courses or installing safety features on the motorcycle.

Types of Motorcycle Insurance

Motorcycle insurance is not required in all states. In states where motorcycle insurance is required, bodily injury and property damage are typically the two types of insurance that motorcyclists must carry. Bodily injury will help pay medical fees, compensate loss of income, and if necessary pay funeral expenses for people involved in an accident in the case that the accident is the fault of the motorcycle owner. Property damage liability will help cover repair and replacement costs for other vehicles and property that has been damaged in an accident that was the fault of the motorcyclist.

Collision motorcycle insurance coverage will cover costs of repairs to the motorcycle in the case of a collision with another vehicle, a stationary object, or construction debris. Comprehensive motorcycle insurance coverage will pay for damage to the motorcycle in the case of an incident that was not caused by a collision, such as weather events or vandalism. Comprehensive and collision motorcycle insurance may be required if the motorcycle is leased or financed.

Additional coverage options are available, such as optional equipment coverage, towing and labor costs, and lease or loan gap coverage. These may be a saving grace after an accident, but will raise insurance premiums. Motorcycle owners may also wish to purchase uninsured or underinsured motorist coverage, which will pay repair costs in the event that a motorcycle accident is caused by an uninsured vehicle.

Insurance Benefits

Motorcycle insurance is a benefit to those who carry it, even if it is not required. Thousands of motorcycle accidents each year cause damage and injury. Without proper coverage, this can be devastating to families and individuals that are affected. Motorcycle insurance can help defray some of the costs of accidents, and provide piece of mind for those who have been involved.


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