Motorcycle insurance coverage recommendations

There's a lot to consider when shopping for insurance, but often the decision hinges on quality and cost. The key is then finding the sweet spot where you get the best of both. And as nice as it'd be to have a cut-and-dried response to “What does motorcycle insurance cost?”, the answer really comes down to “It depends.”

If you've purchased car insurance, you're probably familiar with many of the factors that can impact your monthly premiums—from your driving history to your age and ZIP code. The same variables apply to motorcycle insurance.

Insurance carriers weigh factors differently, which can affect pricing, so it’s helpful to compare quotes to find pricing that works for you. For further potential savings, it’s also worth considering whether discounts may be available. Some insurance companies offer discounts for factors like multi-vehicle policies or taking safety courses.

Once you have a general idea of costs and know what discounts you can leverage, make sure the coverages provide the protection that best fits your situation.

When reviewing motorcycle insurance, it’s helpful to start with your state’s coverage requirements. Most states require motorcycle owners to carry at least liability insurance. Because rules can differ depending on where you live, checking with a local motorcycle dealer, an agent, or an insurance provider can help clarify what’s required.

Your liability insurance coverage helps cover losses in an accident you cause. Each liability policy includes two elements:

• Bodily injury: Bodily injury liability insurance covers lost wages, pain and suffering, and medical bills for individuals hurt in an accident you cause. And, if the worst-case scenario occurs, it covers others' funeral expenses as well.

• Property damage: Property damage liability covers damages to other people's property. But keep in mind, it doesn't cover damages to your property—you'll need additional coverage for that.

Once you meet your state's insurance requirements, you may want to review additional coverage options. Factors like where and how often you ride, or whether you typically have a passenger, can play a role in those decisions.

The first group of coverages listed below can be optional or mandatory depending on your state. Because requirements can vary, reviewing your policy details are important.

• Underinsured motorist bodily injury (UIMBI): If you're injured in an accident caused by an insured driver, your next steps seem clear. But what if their insurance policy isn't enough to cover your injuries? UIMBI can provide additional injury protection for you and your passenger's costs and damages.

• Uninsured motorist bodily injury (UMBI): This coverage offers similar protection to UIMBI, except it offers additional protection for the costs and damages of your injuries caused by an uninsured driver.

• Uninsured motorist property damage (UMPD): If your bike is damaged in an accident caused by an uninsured driver, UMPD offers additional protection for the damages.

• Medical payments coverage: Being injured in an accident can be scary—and expensive. This coverage can help pay for you and your passenger's medical bills.

The next group of insurance coverages are optional in all states, though certain situations—such as leasing a bike—may affect what coverage is needed.

Collision: Let's say you hit another vehicle or object. With a liability-only policy, you may need to cover repair costs out of pocket. With collision coverage, you receive extra protection for damages that aren't caused by another driver.

• Comprehensive: Motorcycle repairs can be pricey. Purchasing comprehensive motorcycle insurance coverage can help pay for damages that aren't covered by other types of insurance—for example, if your bike is damaged in a fire or flash flood, or is stolen or vandalized.

• Optional/special equipment: Customizing your bike does more than make it stand out—it makes it your own. That's why optional/special equipment motorcycle insurance coverage can provide real value. It helps protect against loss or damage to permanent, non-factory-standard equipment, based upon the value it adds to your motorcycle.

• Rental reimbursement: Having your bike repaired after an accident solves one problem, but introduces another: How do you get where you need to go? Rental reimbursement insurance coverage helps cover the cost of an eligible rental while your motorcycle is in the shop.

• Replacement cost: Let's say you're in an accident, and your bike is determined to be a total loss. If it's less than four years old, replacement cost insurance coverage helps you pay for a new bike.

• Roadside assistance: Equipment failures always seem to happen at the worst time, don't they? If you experience a mid-ride mechanical or electrical breakdown, roadside assistance coverage is here to help and can handle things like:

  • Empty gas tanks

  • Dead batteries

  • Lost keys

  • Flat tires

  • Low oil, fluids, or water

Simply put, motorcycle insurance coverage looks different for every rider. Factors like your bike, how you ride, and your budget all play a role. There’s a lot to consider when reviewing coverage options—but you don’t have to do it alone. Our knowledgeable team at Dairyland^®, a brand of the Sentry Insurance Group, is available to help answer questions and walk through coverage options. Contact us today at 866-324-7952.