What You Need to Know About Motor Bike Insurance

Your bike’s value and power can affect its premiums, as can its financing arrangement. Comprehensive coverage may help to protect it against damages such as theft and natural disasters that might occur to its components.

Liability coverages are required by most states, providing limits to pay out to others if you cause an accident. You can select additional limits and coverages as desired to tailor your policy specifically.

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Liability Coverage

Liability coverage, mandated in many states, helps defray costs to third parties if an accident is determined to be your responsibility. Some policies even offer personal injury protection and uninsured/underinsured motorist protection as additional features.

Collision coverage provides for bike repairs if they hit another vehicle or object, with some insurers providing a disappearing deductible option that gradually lowers your deductible each year you don’t file a claim. Comprehensive coverage also pays to repair or replace stolen bikes as well as damaged by floodwater, fire or vandalism damage and also offers specific chrome parts and equipment coverage options.

Some insurers provide roadside assistance and towing insurance that can protect your motorcycle in case it breaks down or is stolen, typically at an extra cost. Some policies cover only limited mileage while others are unlimited – be sure to ask your agent for more details; you can purchase these coverages either on their own or add them as add-ons to an existing liability policy.

Collision Coverage

Collision coverage covers damage to your motorcycle if it’s struck by another vehicle or fixed object, often covering up to the current cash value minus depreciation and your deductible. Some insurers also offer agreed value coverage for high-end or collector bikes, enabling both parties to agree upon an agreed value that won’t fluctuate over time.

Some collision policies also provide coverage for lost custom parts and accessories like saddlebags, trunk boxes, or CB radios. Be sure to ask your agent about this coverage for more details.

Uninsured/underinsured motorist (UM/UIM) coverage helps cover medical costs and property damages if an accident involves a driver who doesn’t carry adequate coverage; in certain states this coverage is mandatory.

Comprehensive Coverage

Comprehensive motorcycle insurance offers more than liability and collision coverage; it also covers repairs caused by theft or vandalism. Please keep in mind, however, that most policies only cover up to the book value of your bike before the loss occurred and may require you to pay a deductible fee.

UM/UIM coverage will cover medical bills incurred from being hit by an uninsured motorist and property damage sustained as a result of being involved in an accident in New York, with coverage also covering property damage compensation – both essential components for any comprehensive policy in New York.

Guest Passenger Liability: Adding additional protection for those riding with you is not required by all insurance providers, but can be helpful. Roadside Assistance: Covering services like towing, tire changes and emergency roadside help is typically included with some policies as a standard offering; others can add it for an additional cost.

Uninsured Motorist Coverage

Many insurers provide optional add-on coverages that can help your policy better meet your needs, such as:

Uninsured motorist coverage (UM or UIM) protects you and your passengers in case an at-fault driver lacks sufficient or any insurance at all to cover damages caused by an accident, such as bodily injuries and property damages. Typically this type of insurance covers both bodily injuries and property damages.

Medical payments coverage acts like health insurance in that it pays for injuries sustained in an accident and usually has various claim limits available to them.

Custom parts and equipment coverage covers repairs or replacement of chrome accessories, saddlebags and other personal touches on your bike minus any deductible you choose when purchasing the policy. Transport trailer coverage pays to transport it should it become damaged during an accident outside its own location; similarly roadside assistance provides towing, labor services or other assistance should it break down.