Motorcycle Insurance - What Coverage Do You Need
19 November 2007What do you know about motorcycle insurance? I spoke with my auto insurance agent this morning (at American Family). She said the following: 1. Full coverage insurance on an everyd...
Is Motorcycle insurance the same price as car insurance or is it cheaper? I had a coupld of friends that have motorcycles and some that have cars. They don't pay for their own insurance but i wanted to know if by a...
Owning a motorcycle can be a lot of fun, but when it comes time for insurance, I see many of the same people become lost as to what type of motorcycle coverage they really need. So, just what do you need to look for in a motorcycle insurance policy? Here are some quick tips to help.
Protecting Yourself And Passengers
Liability Coverage - Naturally, liability coverage is a must to help in protecting others in case you’re deemed to be at fault in a covered accident. Talk with your insurance agent about the amount of liability coverage you need.
Guest Passenger Liability Coverage - This coverage provides protection for bodily injuries to any passenger that you may have on your motorcycle should you be at fault in a covered accident.
Medical Payments - This coverage provides payments for reasonable medical treatment for you or another injured person in the event of an accident.
Uninsured / Underinsured Motorist - This protection will cover damages caused by those drivers who fail to carry any insurance at all, or don’t carry enough to pay for the damages.
Protecting Your Motorcycle
Collision - Pays for the repairs or replacement of your motorcycle in the case of a covered accident. Generally, you’ll use this coverage if you are at fault, but in other cases it can be used even if you’re not at fault and the other insurance company is slow to settle the claim. Once they do, your insurance company will refund you back your deductible.
Comprehensive - This motorcycle insurance coverage pays for covered losses from damages caused by peril other than collision. Typically, this would include fire, theft, vandalism, storm damage and other covered causes. Talk to your agent for a complete list of covered causes.
Added Equipment Coverage - Have you added on some custom options to your motorcycle? You may need to have this coverage added to your policy. It covers a loss for equipment that was not included as standard equipment, or equipment that was not permanently installed by the manufacturer. This is an important coverage to consider adding.
Towing - This option provides for reimbursement of towing charges up to the policy limit in the event your motorcycle breaks down.
Rental Reimbursement - In the event of a covered loss, if you also have comp and collision coverage on your policy, you can have rental transportation while your motorcycle is being repaired. You’ll be able to rent a car and the policy will reimburse your expense up to the policy limits.
Other Discounts
Multiple Motorcycles - Many motorcycle insurers will offer a multi-cycle discount if you have more than one motorcycle on the same policy. This discount can really add up over time, so check to see that a company offers this coverage if this applies to you.
Motorcycle Safety Course Discount - This is another discount you may be eligible for if you have passed a motorcycle safety course. Generally, the discount applies for up to 3 years after certification. Again, talk to your agent about this coverage.
Searching The Internet For Motorcycle Insurance
First, lets understand who is out there. There are three types of results to be found, motorcycle insurance carriers, motorcycle insurance lead companies and motorcycle insurance agencies. All serve a purpose but understanding the difference will save you time and money.
Motorcycle insurance carriers, are the insurance company, that will actually issue the motorcycle insurance policy. You complete the online form or call their 800 number, speak to an order taker… uh, agent and you receive the one quote from one company. If the price is acceptable buy it or move on to the next motorcycle insurance carrier and repeat.
Motorcycle insurance lead companies, sell your information to five insurance agencies, in a specific city or state.
Problem #1: One of the five agencies, is an independent and only represents 2 of a possible 9 motorcycle insurance carriers.
Problem #2: The other agencies, represent the big home and auto insurance carriers, who really only want your home and auto business and don’ offer the best coverages for motorcycles.
Problem #3: motorcycle insurance leads are included for free, with the auto insurance leads and due to a lack time and interest, you never receive a response from any insurance agency.
Motorcycle insurance agencies, are an insurance agency, with a specialization in motorcycle insurance. Look for an agency that has an appointment with all motorcycle insurance carriers, in their respective state (7 to 10 carriers, if they are good). This will typically include the motorcycle insurance carriers, selling direct and most of the motorcycle insurance carriers, represented by the agencies purchasing from lead companies. Then be certain the agency quotes with all 7 to 10 carriers. This will insure the best price and coverage.
Does a person need to have motorcycle insurance? Does a person need to have motorcycle insurance (like mandatory car insurance) to operate a motorcycle in the state of Washington? Thanks...
Motorcycle insurance? I am looking to get a motorcycle in the future and I know it takes time and money, but most people do not ride in the winter (NJ), so my que...
Motorcycle insurance about how much should it cost? about how much should it cost? Motorcycle insurance is based on four things: age, gender, what type of motorcycle you are insuring, and if ...
Motorcycle insurance? Hello. I live in ontario. I am currently interested in getting a motorcycle and undergoing my m1 then thereafter m2 licencing. I am inter...
Motorcycle Insurance? My son has had his motorcycle in storage and has been paying insurance on it. He has had to pay for monthly insurance as if he had been dri...
Own a motorcycle? Get State Farm. - State Farm Group - Auto State farm is one of the best insurance companies to use if you own both a motorcycle and an automobile. Their ra...
If I have a motorcycle license …?
Tags: coverage, insurance agencies, insurance agency, insurance agent, insurance carrier, insurance carriers, Insurance Company, quote