Superbike Insurance: What You Need To Know
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In every state except Florida, you need motorcycle insurance to ride, register, or finance your bike, but the minimum requirements vary.
Superbike Insurance: What You Need To Know
Written by: Heidi Wallis Written by: Heidi Wallis Contributor Heidi Wallis is a Nevada freelance writer and auto insurance expert with over a decade of experience. She runs two small businesses and enjoys hiking with her dogs.
Michigan Motorcycle Insurance: An Essential Coverage Guide For Every Michigan Biker
For many, motorcycles represent the freedom of the open road. But this freedom can be short-lived (and can seriously affect your finances) if your motorcycle insurance isn’t up to scratch.
In this article, we at the Guide team take an in-depth look at the value and importance of motorcycle insurance, explaining why you need it, when you need it, and how much you need based on your state’s insurance laws. We recommend our top picks from the best motorcycle insurance companies we’ve studied.
The Guide team is dedicated to providing reliable information to help you make the best possible decision about insuring your vehicle. Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to compile ratings of the best car insurance companies. We collected data from dozens of auto insurance providers to rank companies on a wide range of rating factors. After 800 hours of research, the end result was an overall ranking for each provider, with the highest-scoring insurers at the top of the list.
Similar to car insurance, motorcycle insurance protects the bike if it is damaged and protects you if you are injured while riding. A standard policy has liability coverage, which is critical to protecting your money if you injure someone else or damage their property in a bike accident.
Insurance For Car And Motorcycle Accidents In California
When deciding how much motorcycle insurance you need, start with your state’s minimum requirements and build up coverage to get enough protection against accidents, theft and lawsuits.
Most states require motorcycle owners to carry a minimum amount of liability insurance in order to register the motorcycle and legally ride it. Progressive recommends carrying liability limits equal to your net worth to ensure that a law suit doesn’t drain your money if you accidentally injure someone else or damage their property.
How much you need depends on how often you ride your bike and whether you own it. If you only ride on the occasional weekend during the summer, you may need less insurance than if you use your bike as a primary vehicle. You may be able to cancel the policy for the winter – but you should check with your local Department of Motor Vehicles (DMV) to make sure this is allowed.
Note that if you cancel your policy for the winter, this will count as a reduction in cover (although it’s an expected fallback) and could result in higher rates when you buy a new policy the following year.
Colorado Motorcycle Insurance Requirements
Additionally, if you lease or finance the bike, your lender will require you to carry full coverage in case someone steals the bike or it gets damaged while not being ridden.
As an alternative to canceling your policy, some insurance companies offer specialized motorcycle storage plans. They reduce coverage throughout the winter or other times you don’t drive regularly.
Sometimes called lay-up insurance, this policy reduces you to bare cover while you’re not using your bike. Motorcycle storage insurance usually includes comprehensive coverage to protect it if it’s stolen or damaged while it’s in storage, but excludes coverage like collision, liability and towing — coverage you don’t need when not riding.
You can sometimes buy short-term and premium motorcycle insurance plans from niche and specialty insurers. Although rare, short-term motorcycle insurance is ideal if you’re borrowing a friend’s bike or only plan to travel on vacation or for a special event. Some companies offer daily, weekly and monthly plans to cover these scenarios.
Do I Need Florida Motorcycle Insurance?
Keep in mind that motorcycle storage and short-term motorcycle policies are specialized and not offered by most major carriers. It’s worth shopping around and talking to your agent to see what specific options are available to you. But your best bet may always be to maintain continuous coverage on your bike.
Most states require motorcycle owners to maintain at least a minimum amount of liability insurance, and some states require uninsured/underinsured motorist (UM/UIM) coverage on top of that.
No matter what state you live in, it’s always smart to make sure you have a good motorcycle insurance policy. If you are involved in an accident without insurance, you are responsible for paying damages and penalties and fines, which can be astronomical and financially devastating.
You need to carry uninsured/uninsured motorist coverage and these limits can be increased up to double your liability limits.
What Is Motorcycle Insurance?
Not legally required, but you are required to show proof of financial responsibility. If you are involved in an accident, you will be on the hook for damages and penalties and fines imposed by the government.
Whether you need insurance for your scooter or moped depends on the state you live in and the size of your bike.
For any two-, three-, or four-motor vehicle (trikes, quads, or otherwise), be sure to always check with your local DMV as well as your insurance agent to make sure you’re legal and safe.
You must meet the minimum requirements for coverage in your state, and just like with car insurance, there are other types of coverage you can invest in. A full coverage policy is usually a good idea to make sure you are adequately protected. Liability coverage includes collision and comprehensive insurance.
Motorcycle Insurance Requirements In Texas
Here are some of the most common motorcycle insurance coverages and each one worth adding to your policy:
Yes, you need motorcycle insurance. Not only is it required in most states, but it’s also very important to protect you, your bike, and your money. Motorcycles can be as expensive as cars (usually $10,000 to $35,000), so they can be equally expensive to repair or replace.
When you factor in the potential cost of any property damage or medical expenses, it’s easy to see why having proper coverage is so important.
The guidance team recommends obtaining quotes from the following carriers. These providers are known for their excellent rates and comprehensive coverage.
Motorcycle Insurance Policy Explained
Motorcycle policies from Geico start at $100 per year for minimum coverage. But, the company offers many perks and benefits to the riders like discounts, motorcycle safety courses, bundling and many more.
Geico motorcycle insurance is available in all 50 states and covers everything from sport bikes and touring bikes to scooters, mopeds and ATVs. The Guides team named it our top choice for motorcycle insurance nationwide.
Progressive offers great options for insuring your bike and covers sports bikes, dirt bikes, cruisers, custom bikes, vintage bikes, touring bikes, ATVs and UTVs, scooters and mopeds. Minimum coverage policies start at $120 per year and go up from there depending on the type of bike and type of coverage.
The guide team also found that Progressive also offers the broadest coverage options of any major carrier. So, if you’re looking for a wide range of covers and extras, Progressive might be your best bet.
Motorcycle Insurance: Need To Know!
While motorcycle insurance requirements vary based on a number of circumstances, comprehensive coverage is almost always worth considering. Comprehensive coverage includes comprehensive and bodily injury liability and property damage liability – and can give you peace of mind knowing you’re adequately protected when the worst comes to worst.
Motorcycle insurance is usually cheaper than car insurance, but not always. Policies can cost as little as $100 per year for basic coverage (which is less than car insurance) but can exceed $700 per year depending on the state of residence, the type of motorcycle insured and the type of policy.
Motorcycle insurance protects you, your bike and your money. A good policy will help pay to repair or replace your bike, cover your medical bills if you’re injured, and help pay for damages you may cause to other people or their property in the event of a covered accident.
Because consumers rely on us to provide objective and accurate information, we created a comprehensive rating system to rank the best motorcycle insurance companies. We collected data from dozens of motorcycle insurance providers to rank companies on a wide range of rating factors. The result was an overall ranking for each provider, with the highest-scoring insurers at the top of the list. Find out how to use our quick and easy client portal to get your insurance certificates and more! learn more
Important Regulations For Motorcyclists In Texas
Whether you’re new to the #bikelife or you’ve been wearing leather for years, your bike means a lot to you. That is why it is so important to protect it.
As with any vehicle, “safety” alone does not apply