Warmer weather is on the way, and the open road will soon be calling. Whether you're a recreational motorcyclist or a serious cross-country rider, be sure you have the right insurance to meet your needs and to protect yourself on the road.
In most (but not all) states, motorcyclists are required to have basic liability insurance, which covers injuries to others or property damage that you may cause. Some liability policies also protect passengers, but check the fine print if this type of coverage is important to you. If you are leasing or financing a bike, you may also be required to purchase additional coverage. Because of the risks associated with riding a motorcycle, it's a good idea to consider purchasing more than just basic liability insurance, which doesn't cover injuries to you or damage to your motorcycle in the event of an accident. Collision coverage will pay for damage to your bike in the event of an accident. A comprehensive policy will protect your motorcycle in the event of theft, fire or vandalism.
This type of coverage may include things like medical bills, physical therapy, psychiatric visits and other costs if you are injured in an accident, regardless of whether you were at fault.
This type of policy also covers expenses related to an accident, but is less comprehensive than PIP coverage.
This option will cover the replacement cost of your motorcycle, rather than its original value minus depreciation. If you've had work done or added special features to your bike, consider upgrading to replacement value coverage.
Just as with auto insurance, this addition will protect you in the event of an accident with someone who does not have sufficient insurance to cover your damages.
If your bike breaks down when you're miles from home, trip interruption insurance will cover food, lodging and alternate transportation until your bike is up and running again.
If you have purchased optional parts, accessories, or equipment for your bike, this addition will provide the unique coverage you need to protect the total package.
Your insurance premium will be based on the type of motorcycle you own and how you use it. But there are many ways to lower your rates. Ask your agent about safe or experienced driver discounts; and consider taking a safe rider course or joining a motorcycle club to earn an additional rebate. In some states, discounts are available for police officers, firefighters and other professions. Finally, if you live in a region where winter weather prevents you from riding your motorcycle for several months of the year, you may be able to purchase a special policy that only kicks in during the months you can ride.
