How to Buy Motorcycle Insurance

Anyone who rides a motorcycle or any motorized vehicle on public streets needs motorcycle insurance. Of course, it is required by law in most places, but more than that you need to be covered in case of an accident. It’s tempting to just call around and get the cheapest price, but then you’ll just get the minimum required by law. You should look at your choices before deciding if that’s what you need. These are the main areas of motor bike insurance to look for.
Medical Coverage

If you cause damage to someone else’s person or property, you are liable. They could sue you for the cost of repair or replacement of their property or for medical bills. You could end up paying out of your future earnings if you don’t have the funds on hand. The law requires you to carry liability insurance. Each state sets its own minimum liability coverage amounts. California requires $15,000 for death or injury of any one person, $30,000 for all injuries in a single accident, and $5,000 property damage. That’s only sufficient to cover a fender bender. It would barely begin to cover the costs of a major accident with injuries.

The holder of any loans against your motorcycle will probably require you to carry full coverage – to protect their investment. On the other hand, if your bike is not worth very much, you may find that it’s not worth it to purchase this type of coverage at all.

Coverage for Your Motorbike

The biggest risk with motorcycles is possible injury to those on the motorcycle. There’s no steel cage, air bags or seat belt. Just a helmet and clothing. An accident that would be considered minor for cars can be deadly if there’s a motorcycle involved. If you are injured in a crash, how much would your insurance pay? Is it enough for a potentially lengthy hospital stay and physical therapy? What if you miss work for an extended period of time while you recover?

Do you need a policy that covers passengers on your bike? What if you loan out your bike and someone else is riding it? You also might want to check your regular health insurance. If you’re covered under that, it might make a difference in whether you choose to address the issue in your motorbike insurance policy.

Legal responsibility

If you cause damage to someone else’s person or property, you are liable. They could sue you for the cost of repair or replacement of their property or for medical bills. If you don’t have the funds on hand, you could end up paying out of your future earnings. Liability insurance is the part that you are required to have by law. The state sets the minimum amounts. For example, in California, you must have $15,000 for death or injury of any one person, $30,000 for all injuries in a single accident, and $5,000 property damage. That’s only sufficient to cover a fender bender. It would hardly begin to cover the costs of a major accident with injuries.

The amount of liability insurance you should get is different from person to person. You personal financial situation will play a role. Would people view you as having deep pockets? You are more likely to be sued if you have money, even if it’s in the form of assets like real estate. Future income can be a target too, so if you’re on your way to a promising career, someone might sue you if your insurance doesn’t cover the damages.

You should plan to get several bids before getting a motorcycle insurance policy. Know what you’re looking for in a policy and get quotes on similar coverage so that you can compare prices accurately.

Start your research online. You can get prices for motorcycle insurance in a handful of places. Your >motorcycle insurance rates should reflect your driving record and the type of bike you ride.

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