The basic motorcycle insurance plan will include bodily injury and property damage liability insurance, which riders are generally legally required to obtain. There are also many other optional coverages, such as comprehensive and collision insurance. The coverages that you will need will depend on your specific motorcycle, what its value is, whether you opt for coverage for your own injuries if involved in an accident, and the level of protection you choose for your belongings.
How Does Motorcycle Insurance Work?
Comprehensive motorcycle insurance allows you to keep riding while preventing you from taking on substantial financial loss from damages that may occur from collision or theft. Key coverages to look for in your plan include liability coverage, collision coverage, comprehensive coverage, medical payments, and uninsured/underinsured driver coverage. Motorcycle insurance is comparable to a typical auto plan as it provides financial protection for injuries or damages that occur with the vehicle.
Remember that if you ride a bike that you don’t own, for instance, while renting one while traveling or borrowing a friend’s bike, you may not be fully covered by your motorcycle insurance. However, the liability coverage will follow you and act as either primary or secondary coverage if you’re involved in an accident. Be sure to discuss with your agent what your policy will cover when on another bike.
Motorcycle Liability Insurance
You are legally required to carry bodily injury and property damage liability coverage. This will cover injury to others or property damage a motorcycle rider could inflict to a third party while riding their vehicle.
Bodily injury and property damage liability does not cover the rider or the motorcycle itself. If you’re involved in an accident, a third party will most likely file a liability claim against your insurance company for whatever damages they believe you have caused.
Keep in mind that there are claim limits that are dependent upon each accident. For instance, if a motorcyclist crashed into a vehicle and damaged it, this would cover the repairs’ cost up to the motorcycle insurance limits.
Luckily, property damage liability insurance doesn’t just cover damage to other vehicles. If you were to drive into a fence and it needed to be repaired or replaced, that would be covered, too, up to the coverage limit.
Optional Types of Motorcycle Insurance Coverage
There are also a wide variety of additional coverages that you may want to consider adding since the basic motorcycle liability insurance will not offer financial protection for your personal injuries or damages to your bike in an accident. Your additional options include:
- Medical Payments and PIP Insurance
- Uninsured/Underinsured Motorist Insurance
- Collision and Comprehensive
- Total Loss Coverage
- Motorcycle Repair Insurance
- Carried Contents and Personal Belongings
- Roadside Assistance and Towing
About Thayer Innes and Freeman Bunting Insurance Agencies
At Thayer-Innes Insurance Agency and Freeman Bunting Insurance Agency, we strive to provide comprehensive insurance solutions to support Ann Arbor homeowners. Our homeowners’ policies can be tailored to meet your specific risk exposures and provides much more coverage than a traditional policy, giving you the peace of mind you deserve. For more information about our products, contact us today at (855) 395-6316.