When you own a motorcycle, motorcycle insurance is a necessary expense to protect you and your bike. Motorcycle coverage will help cover the cost of the damages and injuries you cause to another person or their property with your bike. You can also add additional coverage to the policy to help cover the cost of your medical expenses, your passenger's injuries, and the damage to your bike. Having the right coverage can save you from the financial headache that can follow an accident. A-MAX understands this and can help you find the right coverage to fit your budget with just a few clicks. Contact us for a free quote!

What is Motorcycle Insurance?

A motorcycle policy is a contract between a driver and an insurance company that provides financial protection to the driver in case of a motor vehicle accident or if the driver's motorcycle is damaged. The motorcycle's owner pays an agreed-upon premium to their insurance carrier so that the carrier will respond after a loss involving the insured bike and will pay certain expenses based on the coverages selected on the policy.

Am I Required to Purchase Motorcycle Insurance?

All states in the U.S. require that you carry motorcycle insurance on your bike except for Florida, Montana, New Hampshire, and Washington. The states that require that you carry motorcycle insurance have set mandatory minimum coverage requirements. You must purchase at least the minimum amount of coverage to avoid penalties and fines. These coverages include bodily injury liability protection and property damage liability protection. In some states, you will be required to carry personal injury protection as well. Whether your state requires motorcycle insurance or not, having the coverage can help you avoid financial devastation if you have a serious accident with your bike. Consider buying more liability coverage than your state requires to better protect yourself after an accident.

How Motorcycle Insurance Coverage Works:

Motorcycle insurance protects you and your bike against potential losses. Motorcycle insurance rates vary depending on the type of bike you drive and the level of coverage that you purchase. The coverages on a motorcycle insurance policy include:

• Bodily Injury Liability Protection: This coverage will pay for the injuries you cause to another driver and their passengers, or a pedestrian, up to the policy limit.
• Property Damage Liability Protection: This covers the damages you cause to another person's vehicle or other property up to the policy limit.
• Guest Passenger Liability Protection: This coverage helps to cover your motorcycle passenger's medical expenses, lost wages, and pain and suffering if they are the passenger on your bike during an accident that is your fault and they sustain injuries as a result.
• Physical Damage Protection: If your motorcycle is damaged in an accident, or stolen, vandalized, or damaged by fire or weather, the collision and comprehensive coverages on your policy will pay to repair or replace your bike if you have elected to carry these coverages. Each of these coverages has a deductible that you will need to be prepared to pay out-of-pocket before your insurance company responds to the claim. Comprehensive and collision coverage typically includes coverage for some custom parts, equipment, and accessories on your bike.
• Medical Expenses: If you elect to carry medical payments coverage on your policy, your insurer will pay for your and your passengers' medical bills from the accident up to the policy limit.
• Personal Injury Protection: Some states require that drivers carry this coverage, which will pay for your and your passengers' medical costs from the accident up to the policy limit, but personal injury coverage can also cover lost wages, funeral expenses, and other expenses resulting from an accident.
• Uninsured/Underinsured Motorist Coverage: This coverage will respond to injuries that you or your passengers incur in an accident that is not your fault with an uninsured driver or a driver that does not have enough bodily injury liability coverage to cover the extent of your and your passenger's injuries in an accident. This coverage is required in some states but is optional in others.

Benefits of Motorcycle Insurance Coverage

Financial Protection: Motorcycle insurance protects your assets in an accident in which you hurt someone else or damage their property. It can also provide you with the money you need to fix your bike when it has been damaged if you elect to carry physical damage protection on your bike.

Peace of Mind: When you purchase motorcycle insurance, you can rest easy knowing that you're covered in case of unexpected events.

Motorcycle Insurance Discounts: Many insurance providers offer multi-policy discounts if you bundle your car insurance with a homeowner's or renter's insurance policy, but this can apply to motorcycle insurance as well. If you have completed a motorcycle safety course or are part of an owners' club such as Harley-Davidson, USA, you may qualify for credits to your motorcycle insurance cost. In addition, you may qualify for additional discounts that will make your motorcycle insurance more affordable and attainable.

Protection Against Fines and Penalties: Because most states require that a driver carries at least a minimum-required amount of bodily injury liability and property damage liability coverage, you can drive safely on the roads knowing that you are adhering to your state's laws. Driving without motorcycle insurance can result in steep fines and penalties in the states that require motorcycle coverage.

Eligibility Requirements

Anyone who owns a motorcycle is eligible for motorcycle insurance. You will need to provide the following information to get a quote that suits your budget and provides the protection you need on your policy:

Personal Information: You'll need to provide details such as your full name, address, date of birth, and driver's license number as well as the names, dates of birth, and driver's license numbers of any other drivers in the household or who drive your bike. You will also need to specify if you have been required to carry an SR-22, or financial responsibility filing, by a court or your state.

Garaging Information: If you do not store your bike at your residence, you will need to inform your insurer of where it is kept. They will also need to know if the bike is garaged, kept in another type of secured structure, or parked outside to properly determine your insurance premium.

Driving Record Details: When applying for a new motorcycle insurance quote, you will need to disclose the dates, details of what happened, and the amount paid for any accident that you or any of the drivers that will be on the policy have had with a motorcycle or other motorized vehicle in the last five years. You will also need to disclose any moving violations the drivers have had in the last five years.

Vehicle Information: You will need to provide the year, make, model, and vehicle identification number for your motorcycle as well as the way that you use the bike, and the annual mileage that you plan to put on the bike. You will also want to disclose any additional equipment you have added or modifications you have made to the bike so that your insurer can account for those when determining the value of your bike.

Coverage Preferences: If you already have an active motorcycle insurance policy, you can refer to the current coverages on your policy to get an "apples-to-apples" quote and select higher or lower limits based on what you're looking for. If you do not have motorcycle insurance, you should have an idea of how much liability coverage you need or want, the deductibles you will be comfortable paying out-of-pocket for physical damage on your bike, and elect any optional coverages you may want or need.

Liability Vs. Full Coverage Motorcycle Insurance Policies

There are two coverage types that you can purchase on your motorcycle insurance--liability, which covers the injuries and damages that you cause to someone else or their property or full coverage, which provides liability coverage as well as coverage for your bike so that it can be repaired or replaced after an accident or unexpected event. Most states require at least liability, which includes bodily injury liability and property damage protection. If your motorcycle still holds value, you should request a quote for full coverage. If you are financing a motorcycle, your lender will require you to carry full coverage on your motorcycle.

A-MAX Insurance will help you to customize your motorcycle insurance coverage and help you find potential savings through coverage recommendations and discounts so that you can have peace of mind and adhere to your personal budget.

Motorcycle Insurance Lay-Up Periods

Most motorcycle owners store their bikes during the winter months and can take advantage of a lay-up period if their insurer offers it. When you elect to lay up your bike, you pay a reduced premium because the bike is not covered to be driven during those months. However, while in storage, your motorcycle will still be covered against theft, fire, or weather if you carry comprehensive coverage on the bike. If you elect to take advantage of your insurance company's lay-up period, remember that the bike cannot be driven during this time and if you do drive the bike and have an accident during the lay-up period, your insurer will not cover the claim.

How Does Motorcycle Insurance Cover Totaled or Stolen Bikes?

When you elect to carry comprehensive and collision coverage on your bike, you are insuring your motorcycle if it is damaged in an accident, but also if the bike is totaled in an accident, or stolen. Motorcycle insurance has a few different ways that it pays for your bike in one of these situations. It is important that you understand how your bike is covered in case you run into a situation like this.

• Actual Cash Value (ACV): When your bike is covered for actual cash value, your claim payment from your insurer will be based on the value of your bike at the time of the loss, minus depreciation. Your comprehensive or collision deductible will be withheld from the settlement as well.

• Stated Amount: If your insurer uses a stated amount settlement, your bike will be covered for the value that you selected when you purchased the motorcycle coverage. Your deductible will still apply and be withheld from the settlement.

• Agreed Value: Similar to a stated amount policy, your bike is insured for a value that you agree to when you first purchase your motorcycle policy. The agreed value takes into consideration the condition of the bike and any modifications that have been made to it. This amount remains on the policy as long as the policy stays active. In the event of a total loss, you will be paid the agreed value on the policy. This type of coverage is especially good for custom or classic motorcycles.