Your motorcycle isn’t just an object or a mere means of transport. It’s a symbol of your identity and a significant financial investment. Protecting both it and yourself is important. The right type of motorcycle insurance can protect you in case of accident or theft. But, like all insurance, purchasing protection for your bike can be complicated. How should you choose the right policy for you?
There are several types of motorcycle insurance. The best policy for your needs depends on your driving record, the type of motorcycle you own, how much you owe on the bike, and state requirements for motorcycle riders. Most states require bikers to carry liability insurance, which is usually inexpensive and available from any insurance dealer. It covers other people in case of an accident, but not you or your bike. For that sort of coverage, choose collision insurance. However, if you bought your motorcycle with a loan, the bank will usually require you to get comprehensive coverage, which covers a wide range of potential problems. Whatever insurance you choose, make sure that it will replace your motorcycle in case it is stolen or in an accident.
Keep in mind that the more unusual or expensive your bike, the more it will cost to insure. A one-of-a-kind custom bike often requires more a more comprehensive insurance policy or special insurance riders. This also applies to particularly powerful machines, or bikes that are used in racing or other sports.
However, a skilled rider with a clean driving record should be able to shop around for an insurance policy with good insurance rates that provides protection at a wallet-friendly price. Ask around for recommendations for motorcycle-friendly insurance agents or reliable insurance companies. Motorcycle dealers, repair shops, or friends who ride should be able to steer you in the right direction.
