You may have auto insurance, but that doesn’t cover you when you’re riding your motorcycle and state laws require that all motorcycles be covered. Typically, that requirement is similar to other autos in that a minimum of liability coverage be maintained. In some states, additional liability coverage for your own passengers is mandated. More coverage requirements vary from state to state with some areas requiring bodily injury coverage or uninsured motorist coverage.
While you’re certainly not required to obtain more insurance than the state minimum, you may want to consider the options. Just because your insurance company pays out on your liability policy, that doesn’t mean other parties involved in the accident can’t file a personal injury suit against you. By obtaining extra insurance, such as bodily injury coverage, your policy can act as a safeguard against such suits by giving you additional resources to pay court costs or help cover damages.
On that note, it’s best not to go in blind, when signing up for full motorcycle insurance coverage. Keeping track of your exact coverage, including deductibles and addendums, means you’ll never be left guessing what’s covered. By knowing exactly what’s included in your policy, you won’t be left paying thousands of dollars out of pocket, where you thought you had adequate coverage.
The types of insurance available for motorcycle coverage is the same as with other automobiles. They are liability, collision and comprehensive, and uninsured/underinsured motorist insurance.
Liability protects you in the event that you’re the one at fault in an accident. It pays out for damage you cause to the property of other people and injuries resulting from the accident.
Collision pays for damage to your motorcycle, regardless of who’s at fault. Comprehensive insurance also pays for damage to your motorcycle, but the damage need not be caused by an accident. Theft, vandalism, and natural disasters are generally covered by comprehensive insurance.
Uninsured/underinsured motorist insurance is even more important for motorcyclists to possess than other auto drivers, because of the increased risk of bodily harm. This type of coverage will pay for damage to your bike and your own injuries in the event that you’re in an accident with an uninsured driver. Payable if the uninsured driver is at fault, this coverage helps to cover bills that would otherwise be covered by the other driver’s policy. This type of coverage also protects you in cases where the at fault driver may be insured, but his/her coverage is insufficient to pay for your damages and injuries.