MOTORCYCLE Insurance – Customer-friendly
While it is exciting, riding a motorcycle can also be dangerous, and this is why all states have minimum insurance requirements for anyone that wants to ride on a public roadway. If you have recently purchased a motorcycle, then take a closer look at your insurance options.
Meeting Minimum Requirements
Just as with traditional auto insurance, all riders are required to meet state minimums. For most states, the absolute minimum that a driver must have is liability coverage. This coverage typically offers protection of up to $15,000 for a single injured party, $30,000 for two injured parties, and $10,000 for property damage. If the medical bills or property damage exceed that amount and the rider is at fault, then they will be responsible for making up the difference.
The two biggest factors when determining a rider’s premiums are their age and their experience riding. Older riders that have taken safety courses will enjoy much lower premiums when compared to newer and younger riders. In many states, riders must take an approved safety course before they are issued a permit or license. Other factors that the insurer will take a look at include the value of the bike, the size of its engine, how often it is driven, and where it is parked.
Personal Injury Protection (PIP)
Personal injury protection is required for anyone that drives a full-sized vehicle, but it is generally not included in motorcycle insurance policies. PIP is the coverage that extends to the actual rider if they are injured. While every policy must include other parties that are injured, riders will typically need to add PIP if they would like it. PIP is something that everyone should consider as even a minor accident can result in overwhelming medical bills.
Many motorcycle owners tend to ride on the weekends or even just a few months out of the year. This is why some insurers do offer policies that go dormant during specific periods of time. If the bike is only ridden from April to September and stored in a garage the rest of the year, a policy that goes dormant could lower premiums.