Whether you enjoy weekend road trips on your Harley or use your motorcycle for your daily commute, you need insurance that protects you against the hazards of owning and riding a bike. You already know your risks are higher than other drivers given that motorcycles are less visible to other vehicles and pedestrians. Furthermore, riding on two wheels instead of four only adds to the dangers you face while you ride. With the right insurance, you can protect yourself against the financial repercussions of an accident.
How Much Coverage Do You Need?
When it comes to motorcycle insurance, you can choose cheap, bare-bones coverage that barely meets state requirements or high-quality, comprehensive protection that will actually protect you and your bike, even when it’s not in use. We recommend the latter since it can cover expensive repairs, medical bills, legal fees, and other expenses you might otherwise have to pay out of pocket in the event of a loss. Simply complying with your state’s and lender’s minimum coverage requirements could leave you financially vulnerable to injuries, property damages, and other unexpected expenses.
Types of Motorcycle Coverage
Before you can choose a motorcycle insurance policy, you first need to understand the different types of coverage available. Your policy may include protection for:
Property Damage Liability
Your bike may be small, but it can inflict tremendous damage on other property – especially when you are traveling at high speeds. Property damage liability coverage pays to repair another person’s vehicle, storefront, fence, or other property when you are at-fault for the damages.
Bodily Injury Liability
If you cause an accident that injures one or more people, you can be sued for the medical bills, lost wages, and other injury-related expenses. Bodily injury liability coverage can help protect you against expensive litigation, including payment for your court costs and legal defense fees up to the limits within your policy.
If you roll your bike, lay it over on the highway, or collide with another vehicle or object, collision insurance can help pay for repairs or reimburse you for the value of your motorcycle if it is deemed a total loss. Collision coverage pays for damages to your bike regardless of who was at-fault for the accident. Claims are subject to a deductible, which you can select when purchasing your policy.
Comprehensive insurance refers to the coverage that pays for damages to your motorcycle when they occur as a result of a non-collision event. This can include theft of your bike, vandalism, inclement weather events, or even damages caused by wild animals. Like collision coverage, comprehensive claims are also subject to a deductible.
Your motorcycle is an expression of who you are. Chances are you’ve spent money customizing it with after-market upgrades to make it look and run exactly like you want. From custom paint jobs to chrome parts, be sure to protect your bike’s upgrades with special equipment coverage in your motorcycle insurance policy.
Uninsured/Underinsured Motorist (UM/UIM)
Uninsured motorist coverage is coverage for you and your passengers if you are injured in a hit-and-run accident or by an at-fault driver who has no insurance at all. If you are injured by a driver who has some, but not enough liability coverage, your underinsured motorist protection can help fill in the gaps for your medical bills and related expenses.
You never know when you might be in an accident that sends you or one of your passengers to the hospital. Medical payments coverage is designed to pay for a limited amount of medical expenses when you are injured in an accident. Although the limits are usually just a few thousand dollars or less, this coverage does not require the establishment of fault to pay benefits.
Towing and Assistance
If your motorcycle breaks down or you need some type of roadside assistance, it is possible that your insurance can help pay for labor costs and even towing should you need it.
If your bike is damaged in a collision or other covered event, you may need alternative transportation until your motorcycle is returned to you. Rental car reimbursement can compensate you for the cost of renting a vehicle while your bike is in the shop.
Choosing a Policy
You have many options when it comes to motorcycle insurance. You know you need coverage that minimizes your risk vulnerability but also stays within your budget. Several factors can affect the cost of your coverage, from the type and age of the bike you ride to your driving record and the number of miles you ride each year.
At AFI Insurance, we provide the convenience of customer support, guidance, and comparison shopping – all under one roof. We are available to answer any questions you may have about the different types of coverage and explain your options. We will also show you how to use discounts to maximize your savings. Although these discounts can vary depending on the insurer, many companies offer savings for:
- Taking and passing a certified motorcycle safety course
- Joining a motorcycle rider’s association
- Insuring multiple bikes on one policy
- Combining motorcycle insurance with other lines of coverage
- Maintaining an accident-free and violation-free driving record
- Paying your policy premiums in full
If you are in search of new insurance for your motorcycle, we can help. Contact AFI Insurance today to request your free quotes and find out how an independent agent can help you save on the coverage you need.