Americans bought 468,000 motorcycles in 2019 alone. Joining the millions of other vehicles on the roadways – motorcyclists have a lot of obstacles on the road. Where to start when it comes to motorcycle insurance can be a common roadblock off the bike. Stay safe and give yourself peace of mind with a motorcycle policy – and what it can do for you.
Do I need motorcycle insurance?
Motorcycle crashes run up direct costs into the billions of dollars every year between medical costs, lost wages, property damage, hiring defense lawyers and claims filed. Also, motorcycle insurance is required in every state except for Florida.
What does the typical motorcycle insurance policy cover?
Policies vary from insurance company to insurance company. Typically, a basic motorcycle insurance policy will have some form of coverage for:
- Liability – injury/damage done to others
- Collision – damage to your motorcycle
- Comprehensive – theft or damage to the bike from something other than a collision, such as a fire
- Uninsured/underinsured motorist – injury/damage to you and/or your property if other drivers involved have insufficient coverage
What options do I have for extra insurance protection?
There are many choices out there to personalize your coverage to your riding lifestyle. Some insurance companies like The Hanover offer the chance to purchase additional enhanced coverage that may cover things like:
- Custom and chrome parts
- Roadside assistance
- Trip interruption
- Personal effects
- Accident forgiveness
Plus, you may be eligible for discounts and savings by bundling your bike with your home and auto, taking a safety course, or being a part of a rider group. Talking to an independent agent can help sort out what options are available – and what coverage makes sense for you.
What type of motorcycles does insurance cover?
Many insurance companies cover some range of motorized bikes approved for highway use. The Hanover has a broad range of bike styles eligible for coverage, such as:
- Cruiser and chopper
- Sport and trikes