What Insurance Do I Need for My Motorcycle?

Happy National Motorcycle Day! What better day to make sure you have enough motorcycle insurance? While there is no feeling quite like cruising down the open road on your bike, there is peace of mind that comes with having your motorcycle fully insured too. So, do you have enough coverage to protect against something that may come your way?

How much motorcycle insurance do you really need?

State Requirements

(49) states require motorcycle liability insurance. In order to register your motorcycle, get a license plate, and drive on the road, you may then need to show proof of insurance.

The motorcycle liability limits are usually the same or similar to the requirements for auto insurance, so take with one of our Hertvik agents to review everything needed for your state’s minimum requirements.

Motorcycle liability

Liability insurance refers to bodily injury and property damage liability. This means that your liability insurance pays another if you are found responsible for an accident that caused physical injury or property damage.

Bodily injury liability can help pay for the injured person’s medical bills, while property damage liability would cover any damage(s) to their vehicle or other property (like a fence, mailbox, etc.).

Motorcycle liability coverage is usually written with three limits like this: 100k/300k/50k. Meaning you have $100,000 in bodily injury protection per person, $300,000 bodily injury per accident, and $50,000 in property damage liability.

How much motorcycle liability do you need?

Though there is a state minimum requirement, we still recommend enough liability insurance to further protect all your assets.

An alternative to motorcycle liability coverage is purchasing an umbrella policy. An umbrella policy offers a blanket of liability protection to help protect you against a variety of liability concerns. Umbrella policies can start at around $1 million in coverage limits but the premiums are usually inexpensive for the coverage you get.

Uninsured/underinsured motorist

Some states require uninsured/underinsured motorist coverage as well. It is protection if you if the other person involved in the accident is found at fault, and they don’t have enough insurance to cover your injuries or damages.

For example – someone runs a red light and hits you on your motorcycle. After that, you come out unharmed, thankfully, but your bike now has $13,000 in damage. If the driver who ran the red light doesn’t have insurance, or only has $10,000 property damage coverage, the uninsured/underinsured motorist coverage comes into play and can help you cover the remaining balance.

Collision and comprehensive

We highly recommend collision and comprehensive coverage to help cover damages to your own motorcycle, even though they are optional and not required by the state.

Collision coverage can help cover costs if you collide with a car, another motorcycle, or stationary object. Comprehensive coverage helps cover damage caused by a wide variety of incidents. For instance, this could be something such as theft, vandalism, fire, natural disaster, impact with animals, or a falling object.

With collision and comprehensive coverage, both coverages have a deductible. This means that you are responsible to pay that deductible out of pocket before your insurance covers the rest. Furthermore, along with a deductible, there may also be coverage limits that will only cover up to a certain cost.

Add-On Coverage

There are a lot of add-on options for motorcycle insurance. Each is set is a defined coverage limit based on your insurance carrier, meaning you just need to decide which type of coverage is right for your specific needs.

Some optional add-ons include:

Roadside assistance: If you break down on the side of the road, this add-on includes coverage for towing and at-site labor.

Trip interruption coverage: This helps cover transportation, lodging, and food if you get into an accident and cannot ride your motorcycle. This typically has to be if something that happens 100+ miles away from home.

Original Equipment Manufacturer (OEM) coverage: Original equipment manufacturer parts guarantees that any repairs to your bike will use the original manufactured parts, not cheaper or different-maker replacements.

Additional accessories coverage: If you have custom parts, equipment, and accessories on your motorcycle, your collision and comprehensive coverages may not cover them. You’ll need to pay extra for an endorsement for custom parts, equipment, and accessories.

Carried contents coverage: Carried contents coverage covers damage or theft of items you carry on your motorcycle, like cellphones, radios, etc. You need to keep an up-to-date itemized “carried contents” list on you to ensure you’re fully covered.

What is the price of motorcycle insurance?

Motorcycle insurance can cost anywhere from a couple of hundred dollars to a thousand per year. This depends on a number of different factors:

Where you live (state, or area of risk for riding a motorcycle)
Driver age
Driver’s driving record
Driver experience (younger drives tend to pay more)
Value and type of bike (size of engine)
Risk level
Coverage limits
Deductibles
Insurance carrier

Your insurance carrier is going to look at your risk level. If you are in a densely populated area or high crime area, you’re at a greater risk of theft or collisions, meaning your premiums might be higher.

The premium cost, along with risk, will depend on how much insurance coverage you’ll need. The more protection you buy, the more you’ll pay. That’s why you want to find a good balance between getting the most coverage at a realistic price.

That’s what we do at Hertvik Insurance. Our agents will help you craft the best coverage for your bike. Let us shop around to find the right price for your budget.

How to save money on motorcycle insurance?

Don’t skimp on motorcycle coverage, as there are ways you can save on your bike’s insurance premiums. Here are some ways to minimize the price of your premium, without losing out on coverage:

Bundle your motorcycle with other types of insurance – like home and auto.
Insure all of your bikes with the same insurance carrier.
If you have a clean driving record in the last 3-5 years, ask about a “safe drivers” discount.
Take a motorcycle training course. This will help demonstrate you’re at a lower risk on the road and get you a safe driver discount. (recommended for new or younger drivers)
Join a bike club or organization that offers discounts.
Inquire about a mature rider discount if you’re an experienced rider or 55 and older.

The best way to save on your motorcycle insurance is by shopping around. With Hertvik Insurance, we’ll compare quotes for you to make sure you’re getting the best price for the coverage you need.