How To Get Motorcycle Insurance: A Rider’s Roadmap

Getting motorcycle insurance is a crucial step before hitting the open road, protecting you financially in case of accidents, theft, or damage. Obtaining coverage involves understanding your needs, comparing quotes, and selecting the policy that best fits your riding style and budget. Let’s delve into a comprehensive guide, breaking down the process into manageable steps.

Step-by-Step: Securing Your Motorcycle Insurance

1. Assess Your Needs: Before you even think about calling an insurance company, take stock. What kind of bike do you have? What’s its value? How often do you ride? Where do you ride? Are you a new rider or an experienced one? These questions directly influence the coverage you’ll need. A high-performance sportbike ridden daily in a bustling city requires far more coverage than a vintage cruiser used occasionally for leisurely weekend rides. Consider your assets, your risk tolerance, and the potential for legal action against you if you cause an accident.

2. Gather Essential Information: Insurance companies will need specific information to provide accurate quotes. Have the following ready:

   • Your Motorcycle’s Information: Make, model, year, Vehicle Identification Number (VIN), and any modifications.
   • Your Driver’s License: Including your license number and driving history.
   • Riding History: Details about your riding experience, including any previous accidents or traffic violations.
   • Coverage Preferences: Understanding of different coverage types (liability, collision, comprehensive, etc.) and desired coverage limits.

3. Shop Around and Compare Quotes: Don’t settle for the first quote you receive. Get quotes from multiple insurance companies. Online comparison tools can be helpful, but also consider contacting independent insurance agents who can access a wider range of policies. Pay close attention not just to the price, but also to the coverage details, deductibles, and policy exclusions. Some companies specialize in motorcycle insurance and may offer more competitive rates or specialized coverage options.

4. Understand Coverage Options: Motorcycle insurance policies offer various coverage options. Here’s a brief overview:

   • Liability Coverage: This is the cornerstone of any insurance policy. It covers bodily injury and property damage you cause to others in an accident. It’s often legally required. Make sure you have adequate limits to protect your assets.
   • Collision Coverage: Pays for damage to your motorcycle resulting from a collision with another vehicle or object, regardless of fault.
   • Comprehensive Coverage: Covers damage to your motorcycle from incidents other than collisions, such as theft, vandalism, fire, or natural disasters.
   • Uninsured/Underinsured Motorist Coverage: Protects you if you’re hit by a driver who has no insurance or insufficient insurance to cover your damages.
   • Medical Payments Coverage: Pays for medical expenses for you and your passengers, regardless of who is at fault.
   • Personal Injury Protection (PIP): Covers medical expenses, lost wages, and other related costs, depending on state laws.
   • Accessories Coverage: Provides coverage for aftermarket parts and accessories you’ve added to your motorcycle, such as custom exhaust systems, seats, or lighting.
   • Roadside Assistance: Offers coverage for towing, jump-starts, and other roadside services if your motorcycle breaks down.

5. Review Policy Details and Deductibles: Carefully read the policy documents before signing anything. Understand the exclusions, limitations, and conditions of the coverage. Pay attention to the deductible, which is the amount you’ll pay out-of-pocket before your insurance coverage kicks in. A higher deductible generally means a lower premium, but it also means you’ll have to pay more if you have a claim.

6. Discounts and Savings: Inquire about potential discounts. Many insurance companies offer discounts for:

   • Safe Riding Courses: Completing a motorcycle safety course can often lower your premiums.
   • Multi-Policy Discounts: Bundling your motorcycle insurance with your auto or home insurance.
   • Association Memberships: Belonging to motorcycle clubs or associations.
   • Anti-Theft Devices: Installing alarms or tracking systems.
   • Good Driving Record: Maintaining a clean driving record.
   • Storage: Storing your motorcycle in a garage during the off-season.

7. Pay Attention to Exclusions: Policies often contain exclusions, which are situations or types of damage that are not covered. Common exclusions include:

   • Intentional Damage: Damage caused deliberately.
   • Racing or Stunt Riding: Damage incurred during racing or performing stunts.
   • Illegal Activities: Damage resulting from illegal activities, such as riding under the influence.
   • Mechanical Breakdown: Unless you have specific mechanical breakdown coverage, most policies won’t cover repairs due to wear and tear or mechanical failures.

8. Complete the Application and Payment: Once you’ve chosen a policy, complete the application accurately and honestly. Any misrepresentation can lead to denial of coverage later on. Make your first payment to activate the policy.

9. Keep Your Policy Up-to-Date: Review your policy annually or whenever you make changes to your motorcycle or riding habits. Ensure your coverage limits are still adequate, and update your policy if you move, change your riding frequency, or add accessories to your bike.

Frequently Asked Questions (FAQs)

1. What happens if I ride my motorcycle without insurance?

Riding a motorcycle without insurance is illegal in most states and carries significant consequences. You could face fines, license suspension, and even jail time. More importantly, you’ll be personally liable for any damages or injuries you cause in an accident, potentially leading to devastating financial consequences.

2. How much motorcycle insurance do I need?

The amount of motorcycle insurance you need depends on several factors, including your state’s minimum requirements, your assets, and your risk tolerance. At a minimum, you should carry enough liability coverage to protect your assets in case you cause an accident. Consider higher limits if you have significant assets or ride frequently.

3. Does motorcycle insurance cover passengers?

Yes, liability coverage typically extends to passengers injured while riding on your motorcycle. However, consider purchasing medical payments coverage or personal injury protection (PIP) to further protect your passengers’ medical expenses, regardless of fault.

4. Is motorcycle insurance more expensive than car insurance?

In some cases, yes, motorcycle insurance can be more expensive than car insurance, especially for high-performance bikes or inexperienced riders. However, the cost varies depending on many factors, including the type of motorcycle, your riding history, your location, and the coverage you choose.

5. What factors affect the cost of motorcycle insurance?

Several factors influence motorcycle insurance rates, including: * Your Age and Riding Experience: Younger and less experienced riders typically pay higher premiums. * Your Driving Record: A clean driving record will result in lower premiums. * The Type of Motorcycle: High-performance bikes and sportbikes are typically more expensive to insure. * Your Location: Urban areas with higher accident rates tend to have higher premiums. * Coverage Limits and Deductibles: Higher coverage limits and lower deductibles will increase your premium. * Anti-Theft Devices: Installing alarms or tracking systems can lower your premiums.

6. Does motorcycle insurance cover theft?

Yes, comprehensive coverage will cover theft of your motorcycle. This coverage also protects against damage from vandalism, fire, and other non-collision-related incidents.

7. What is “full coverage” motorcycle insurance?

“Full coverage” is a common term that typically refers to a policy that includes liability, collision, and comprehensive coverage. It provides the most comprehensive protection for your motorcycle and yourself.

8. Can I get motorcycle insurance if I only ride seasonally?

Yes, many insurance companies offer policies tailored to seasonal riders. You may be able to suspend or reduce your coverage during the off-season to save money. Inquire about “lay-up” policies.

9. Does motorcycle insurance cover custom parts and accessories?

Standard motorcycle insurance policies may offer limited coverage for custom parts and accessories. You may need to purchase additional accessory coverage to fully protect these items.

10. What should I do after a motorcycle accident?

After a motorcycle accident, prioritize your safety and the safety of others. Call for medical assistance if needed. Exchange information with the other driver, including insurance details. Document the scene with photos or videos. Report the accident to the police and your insurance company as soon as possible.

11. Can I lower my motorcycle insurance rates?

Yes, there are several ways to lower your motorcycle insurance rates: * Take a Motorcycle Safety Course: Completing a safety course can often earn you a discount. * Increase Your Deductible: A higher deductible will lower your premium. * Maintain a Clean Driving Record: Avoid accidents and traffic violations. * Shop Around and Compare Quotes: Get quotes from multiple insurance companies. * Bundle Your Insurance Policies: Combine your motorcycle insurance with your auto or home insurance. * Install Anti-Theft Devices: Protect your motorcycle from theft.

12. Are there specialized motorcycle insurance companies?

Yes, some insurance companies specialize in motorcycle insurance and may offer more competitive rates or specialized coverage options for specific types of motorcycles or riders. Research companies like Progressive, Dairyland, and Geico, as well as smaller, regional insurers.

By following these steps and understanding your insurance options, you can secure the right motorcycle insurance policy and ride with confidence, knowing you’re protected. Safe riding!