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How to Choose Motorcycle Insurance

Choosing motorcycle insurance can be a difficult decision. It would help if you weighed the costs of motorcycle insurance against the benefits you need. For example, do you want property damage liability insurance? Or bodily injury coverage? What about motorcycle theft? How about uninsured, underinsured motorist coverage? Do you go ahead and purchase comprehensive insurance?

There are so many factors to consider it can get overwhelming. In this blog post, the experienced motorcycle accident attorneys of The Fran Haasch Law Group answer some common questions about motorcycle insurance and how to choose what’s suitable for your needs. You’ll also get some information on how to get the best deal from an insurance company.

Do I Need Motorcycle Insurance in Florida?

The state of Florida doesn’t require riders to carry motorcycle insurance. You have to register your bike with the DMV (Department of Motor Vehicles), but that doesn’t involve showing proof of coverage.

But if you’re involved in an accident, you’ll have to provide proof of financial responsibility. There are two ways you can do this.

One is to get a financial responsibility certificate. To get that certificate, you’ll have to provide a securities or cash deposit with the DMV, or you’ll have to post a surety bond with a company licensed by the state of Florida.

The other way to get proof of financial responsibility will be to obtain what’s known as a self-insurance certificate. This means you’ll have to show evidence you’ll be able to cover all accident-related costs, including medical payments, out of your pocket.

It will just be common sense to purchase a motorcycle insurance policy unless you have unlimited funds. If you don’t, you could be looking at paying hundreds of thousands of dollars if you cause an accident.

What does Motorcycle Insurance Cover?

There are three primary types of motorcycle insurance: property damage liability, bodily injury (often referred to as personal injury protection insurance), and theft. Property damage liability coverage pays for damages you cause to someone else’s property in a motorcycle accident. Bodily injury coverage pays for injuries you cause to others,  such as medical bills that come from treating injuries sustained in an accident. Finally, theft coverage reimburses you for the value of your motorcycle if someone steals your bike.

You can also purchase comprehensive and collision coverage, which pays for damages to your motorcycle in the event of an accident, regardless of who is at fault. Comprehensive coverage also includes protection against damage caused by fire, theft, or vandalism. In addition, collision coverage pays for repairs to your motorcycle after an accident. It is important to note that collision and comprehensive coverage are not mandatory in most states, but they are highly recommended.

How Much Does Motorcycle Insurance Cost?

The cost of motorcycle insurance varies depending on several factors. These include the following: 

-The type and size of motorcycle you own.

-Your driving history.

-The area of town where you live.

-The coverage options you select.

Close up shot of motorcyclist at sunset in florida without a motorcycle license

What Factors Affect the Cost of Motorcycle Insurance?

Many factors can affect how much motorcycle insurance costs. A few include:

– motorcycle size (a larger motorcycle will cost more to insure than a smaller one)

– age (the younger you are, the less motorcycle insurance costs)

– motorcycle use (if you ride your motorcycle every day, motorcycle insurance costs will be higher than if you only ride on weekends)

How to Get the Best Deal on Motorcycle Insurance?

There are a few things that can help lower motorcycle insurance rates. These include:

– taking a motorcycle safety course

– motorcycle insurance discounts (some motorcycle insurers offer student, military, and safe driver discounts).  Single payment discount.

– motorcycle insurance policies with higher liability coverage limits to help protect you from incurring high costs in case of an accident.

Motorcycle Insurance Tips:

There is no ‘one size fits all’ policy regarding motorcycle insurance. Instead, you need to tailor the coverage to fit your needs. Here are a few tips for choosing motorcycle insurance:

– Decide what type of motorcycle insurance you need. Property damage liability, bodily injury, and theft are the primary types of motorcycle insurance.

– Determine how much coverage you need. That will depend on the kind of motorcycle you have, how often you ride it, and more.

– Decide what type of motorcycle insurance discounts are most important to you. For example, do you want a student discount? Or motorcycle insurance for safe drivers? Many motorcycle insurers offer these types of discounts, but not all do.

-Consult with your current auto insurance provider about their motorcycle coverage options.

– Consider motorcycle insurance on a month-to-month basis rather than waiting until you need it, as motorcycle coverage is typically cheaper when purchased for the year at once. Motorcycle insurance rates can vary from state to state and policy to policy, so make sure you compare motorcycle policies before deciding which one is right for you.

Types of Extra Coverage for Motorcycle Insurance

In addition to the motorcycle insurance coverage discussed above, you may want to consider purchasing additional motorcycle insurance. For example:

– Additional Liability Coverage – This is a type of motorcycle insurance that helps protect you and your motorcycle if an accident results in injuries or property damage for which you are liable (at fault). It can help pay legal costs associated with motorcycle accidents.

– Collision Coverage – This motorcycle insurance helps pay for damages to your motorcycle if you are in a motorcycle accident involving another vehicle/object.

– Uninsured/underinsured Motorist Protection – If someone without enough/any insurance injures you while driving their vehicle, this type of motorcycle insurance will help cover your medical expenses.

– Medical Payment Coverage – This type of motorcycle insurance helps pay for your medical expenses if you are injured in a motorcycle accident, regardless of who is at fault.

– Custom Parts and Equipment Coverage – If you have added custom parts or equipment to your motorcycle, this coverage can help protect you from damages to those items if you are in an accident.

Exclusions from Motorcycle Insurance Coverage

Certain motorcycle-related accidents won’t be covered when you purchase motorcycle insurance. These include:

– motorcycle racing or stunting

– riding a motorcycle while intoxicated by drugs and or alcohol (DUI)

– transporting property on your motorcycle unless it’s in a sidecar attached to the bike, or the motorcycle is designed for transporting property

– using your motorcycle for commercial purposes.

Be sure to read over your motorcycle insurance policy carefully to see what isn’t covered. This will help you make an informed decision about the coverage you need.

What Should You Look for in Motorcycle Insurance?

When looking for motorcycle insurance, there are several essential things to consider. First and foremost, make sure that your motorcycle is adequately insured before taking it onto public roads. If you don’t already have motorcycle coverage, check with the motorcycle dealer where you purchased your bike, as they should be able to recommend an insurer or provide information about motorcycle insurance. If you’ve recently purchased your motorcycle, the dealer may have arranged for motorcycle coverage on your behalf. Check with them first before looking elsewhere.

If you already have motorcycle coverage through another insurer and are happy with the policy, there’s no need to switch unless a better deal comes along. However, suppose you’re not satisfied with your motorcycle coverage or looking for a better policy that meets all of your motorcycle insurance needs. In that case, it’s essential to shop around and compare different rates from various providers.

It would help if you also considered how much motorcycle insurance you want to carry based on the value of your motorcycle. If you have a loan outstanding against your bike, then make sure you have collision and comprehensive coverage to protect the lender in case of an accident.

It would be best to consider whether you want to add extras such as roadside assistance, rental vehicle reimbursement, or medical payment coverage. These types of motorcycle insurance can come in handy if you ever need them.

When comparing motorcycle policies, be sure to look for:

– property damage liability

– bodily injury liability

– uninsured/underinsured motorist coverage

– medical payment coverage

– collision coverage

– comprehensive coverage

– custom parts and equipment coverage.

When choosing motorcycle insurance, consider the value of your bike, the types of accidents that will be covered, and any motorcycle coverage extras you might want. You should also compare motorcycle insurance policies from different providers and choose the one that suits your needs best.

Custom Harley Davidson Fat Boy motorcycle, parked on "Bike Night"

Is it Worth Buying Comprehensive Motorcycle Insurance?

Comprehensive motorcycle insurance is a type of motorcycle insurance that covers damage to your motorcycle from events other than collisions with another vehicle or object. For example, if you drop your bike, or have any number of accidents not involving another object, comprehensive motorcycle insurance will cover the cost to repair your bike. 

Comprehensive motorcycle-only motorcycle insurance will only cover motorcycle-related incidents and not damage from another object or motorcycle collision.

Comprehensive motorcycle insurance can be costly because these claims are less common than collisions causing property damage to the insured vehicle. In addition, many dealerships offer warranty programs that provide comprehensive coverage during your loan period for no additional cost over your motorcycle payment. 

Therefore, if you have a warranty or are financing your motorcycle, it may be more cost-effective to use the comprehensive coverage included in your loan rather than purchasing additional insurance.

Can I Use My Car Insurance Policy for Motorcycle Coverage?

You cannot use a car policy to cover motorcycles. Their coverage is not the same as motorcycle insurance, so it may not provide enough protection if you get into an accident on your bike while riding.

If you’re ever injured in a motorcycle accident that wasn’t your fault, contact the Fran Haasch Law Group. If your insurance company refuses to offer you fair compensation, we’ll work to get you the money you deserve.

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