Motorcycle Insurance

Whether you’d like to embark on a cross-country adventure, or you just enjoy riding around town, all motorcyclists need protection from unexpected circumstances. Most states require motorcyclists to carry liability coverage. In many cases, the required minimum liability amounts are the same as vehicles.

From accidents to breakdowns, property damage and personal or passenger injury, insurance is something that every responsible rider should have before starting a ride. Here’s what you need to know about motorcycle policies and safe riding.

Motorcycle coverage protects you, your passengers, and your scooter in the event of an accident. If you cause an accident, your liability will help to pay for the damages and injuries of others. Most states require motorcyclists to purchase coverage, usually to the same degree as auto insurance minimum requirements. Depending on the type of policy you invest in, you can reduce your financial liability for medical expenses, repair costs, and more.

Motorcycle insurance is similar to automobile coverage, but differs in a few key aspects:

• Passenger coverage is usually a separate purchase in coverage, since passengers are a rarer occurrence on a motorcycle than they are in a vehicle.
• Motorcycle accidents are more likely to yield injuries than a car accident, so you may need to purchase a higher amount of personal injury protection coverage than you would for a vehicle.
• Motorcycle coverage isn’t always year-round. Many policies offer “Lay Up” options where you can reduce your monthly premiums by suspending some of your insurance during periods where you do not use your bike, such as the winter months.

Just like auto insurance, motorcycle policies help cover any related costs in the event of an accident. Depending on where you live and what type of insurance you have, your motorcycle policy can help cover the costs of any injuries and damages incurred by others if you are at fault. Keep in mind your minimum liability policy will only pay up to its limits – anything over that comes out of your pocket.

Acceptance Insurance agents are motorcyclists, too. A knowledgeable and friendly Acceptance agent will help you find cheap motorcycle insurance to fit your budget and needs.

It works by helping to pay for injuries and damages occurring in a covered event, like an accident. Depending on the circumstances, you may file a claim with the at-fault driver’s insurance (assuming he or she has it) or if you are at fault, the other party may file a claim against your insurance. Your liability insurance will not pay for your own damages and injuries, which is why some riders choose to carry additional protection, such as collision insurance  and comprehensive insurance. If you financed your bike, your lender may require you to carry these additional coverages. Together, liability, comprehensive and collision make up what some refer to as full coverage.

• If you cause an accident and the other driver or rider suffers serious injuries, you could be responsible for their medical expenses. To avoid paying thousands of dollars in medical costs, motorcycle bodily injury/death liability insurance policies will help pay for these damages – up to your policy limit.
• Because you don’t have the same protections on a bike as you would in a car, accidents often result in serious injuries – which can lead to expensive medical bills. Most states do not require motorcyclists to carry additional medical protection, although it may be a good idea. Motorcycle personal injury protection (PIP) or Medical Payments coverage (MedPay) provides funds for your medical expenses so that you don’t drown in debt if you are injured.
• Since motor vehicles are significantly heavier than bikes, motorcycles tend to bear the brunt of the damage in a collision. Repairs costs have increased and replacing your bike is just as costly as repairing it. When you have a full coverage motorcycle insurance policy, you can protect your bike, receive funds for your repairs, or even replace your ride if you have a total loss.

Motorcycle insurance, much like car insurance, depends on a number of individual factors, such as age, driving history – and in the case of bike insurance, rider experience. That is why you will see the average cost of motorcycle insurance in the U.S. ranging from $100-$500 annually.

This amount can increase substantially if, for example, you are a young male looking for full coverage on a sports bike you just financed. In this example, your insurance could run as high as $3,000 per year. A mature, experienced rider will see much lower rates.

Keep reading to learn ways all riders can lower their premiums with discounts and other tips.

The amount of insurance that you need to purchase will depend on a number of factors. First, you will need to look at your state’s motorcycle insurance requirements and ensure that you purchase at least the minimum amounts. In many cases, it is a smart investment to purchase more than the minimum insurance coverage you need to ensure you have enough protection in case of an accident.

Your specific coverage needs will depend on where you live and what your potential risks are – for example, if you live in a high-crime area, comprehensive coverage is very important. If you live in a safe, quiet area with a temperate climate, this type of coverage may not be a top priority and collision coverage may be more important.

Motorcycle insurance is not one-size-fits-all. Motorcycles come in all shapes and sizes and those who ride them also have varying degrees of experience, driving history and other important factors. If your motorcycle is custom-built, you may need a different type of coverage than what you need for a bike that rolls off the factory floor. Custom-built bikes are unique and demand a custom-built policy.

If you need to build a policy that fits your situation and risks, speak to one of our motorcycle insurance professionals as soon as possible. A knowledgeable agent at Acceptance can help you discuss your options and learn more about the types of coverage that could benefit you. At the end of your meeting, you will receive a comprehensive and customized plan that fits your lifestyle and needs.

Minimum Liability Limits per State for Motorcycles

Check the table below to see how much you need to drive legally in your state.

At its most basic, it includes the mandatory minimum liability limits your state requires (see table above). Some states require additional coverage in the form of uninsured motorist coverage (UM). Keep reading to learn why UM is a good idea for bikers.

Liability Insurance for Motorcycle Drivers

Liability Insurance includes an amount to help pay for any injuries (or deaths) you cause in an at-fault accident, as well as any property damage you may cause to someone else’s property, such as another bike, a car, a fence, etc.

Comprehensive and Collision Coverage for Motorcycles

Your collision will kick in to pay for your repairs or to write a check for the actual cash value (minus the deductible) of your totaled motorcycle in a wreck, even a single-vehicle wreck if you take a corner too fast. Comprehensive motorcycle coverage will pay the ACV minus the deductible if your bike is stolen or damaged in a storm, fire or other event. If your scooter is financed or if you just want greater protection, you may opt for full coverage. This policy includes your liability, plus collision coverage and comprehensive insurance.

Additional Coverage for Bikers

You may be able to add roadside assistance to your full coverage policy for a minimal cost, but not all insurers for motorcycle policies offer it.

There are several ways to save money on your premium, both for motorcycles and any type of vehicle, including making use of discounts. In addition, members of our military can receive discounts for motorcycle insurance.  Some of the more popular insurance discounts for motorcycles  that will save the most money include:

If you are able, move to a safe location. Document what happened with eyewitness reports and photos. Your insurer will depend on this information, as well as law enforcement accounts, to determine what happened and who is at fault. In some cases, fault may be shared.

If you do not have motorcycle coverage in a state that requires it, then you can face penalties that range from fines to losing your license. You will also be open to lawsuits if you have injured someone or damaged property.