The freedom that comes with driving a motorcycle is different. If you are looking into getting your license or want to start riding again, it is required in most states to have motorcycle insurance. Protecting yourself, your ride, and your investment is important, as is choosing the right insurance. Safety on the road starts here.
What Is Required?
Simply put, motorcycle insurance is very similar to auto insurance. It covers any damage to your vehicle, injuries to yourself or others, and property damage. This includes liability coverage, which pays for others’ injuries or damages if you get into an accident. The minimum amount required is usually the same as your state’s lowest car insurance requirements. While there is a minimum, it may be smart to invest in extra liability coverage in case you need that extra money after an accident.
Coverage Options
While liability is a requirement, other add-ons are available. This includes collision, comprehensive, medical payments, trip interruption coverage, custom parts coverage, transport trailer coverage, and roadside assistance. The more you decide to cover, the more it will cost. However, it is important to remember that covering everything needed at the beginning will put you in a better financial situation if something does happen while out on the road.
Collision covers damages (minus your deductible) to your motorcycle. Comprehensive aids you in the situation that your motorcycle is either stolen or damaged in something other than a collision with vehicles (including animal collisions).
Medical payments (Med-Pay) cover any injuries and medical bills incurred by you or a passenger. It does not cover lost wages or other costs that come with injuries. In the state of New Jersey, a motorcycle is not viewed as equal to a motor vehicle, so personal injury protection (PIP) is not an option. Med-Pay is good to have, especially if you do not have enough health insurance. Since riding or driving a motorcycle comes with many risks, it is always best to get added injury protection.
While the options above seem to be necessities rather than add-ons, there are also add-ons to give peace of mind financially. Depending on your insurance, these could also be part of standard policies.
Trip interruption coverage pays for any lodging, transport, and food needed if you find yourself stranded far from home with a damaged motorcycle. In this situation, you will also require roadside assistance, which includes towing fees and labor costs. If you have customized your motorcycle, insurers will usually cover up to $3,000 of custom parts, but this number can vary depending on your insurance. There is also an option to add more to this coverage if you are certain your custom parts cost more. Finally, insurance companies sometimes offer trailer coverage for trailers able to be attached to a motorcycle. This does not cover anything damaged within the trailer.
While there are other smaller coverage options your insurance could offer, these are the main options you should be aware of when looking at all your options. Driving a motorcycle comes with many risks, and insurance is here to make sure you are doing everything to be as insured and safe as possible.
Getting Started
Whether you already have insurance and need a new plan or you are buying a motorcycle for the first time, you need to know what insurance is best for you and your bike. If you need more information on how to get started with purchasing the best motorcycle insurance for you, Danskin Agency is here to help. We will ensure you and your motorcycle are as safe as can be when on the road because your safety is our number one priority.