Motorcycle Insurance

MOTORCYCLE INSURANCE: Only two wheels, same great coverage

By Staff Writer

 

 

The open road should be the only thing on your mind when you’re on your bike this summer. Trusted Choice® Independent Insurance Agents understand that anything can happen, and can answer questions you may have about protecting your bike, yourself, and anyone else. Here are a few things to consider when adding or renewing your motorcycle insurance:

State to state coverage varies

Most states require a motorcyclist to at least have liability coverage, which in a worst-case scenario; the policy will cover bodily injury and property damage that you cause to another person in an accident. Beyond this, you can purchase other insurance options like collision coverage (covering damage to your bike), comprehensive coverage (damage or loss by fire, theft, vandalism), and under/uninsured motorist coverage (damages caused by another driver who is uninsured or underinsured).

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Factors that affect motorcycle insurance premiums

Again, each state and situation dictates your specific insurance premium; however, here are some basic factors that can be used to determine your insurance premium

• Your age
• Your driving record
• Where you live
• The model/ or style of your motorcycle
• Number of miles driven on your motorcycle
• Where the motorcycle is stored

Discounts anyone?

Multiple bikes on one policy, your length of experience in riding, and graduating from a training course can give you immediate discounts. In some northern states, motorcyclists are also offered “lay up” policies, in which coverage can be suspended during winter months; however, be aware, some cost-savings may not be worth incurring the risk of a loss that is not covered. You may save $75 on a premium, but incur a five-figure loss. For instance, if your bike is stored in your garage during the layup period, someone steals it and runs over another person, and the injured person sues you, you would more than likely have no coverage with a lay-up endorsement.
Hopefully this information can get you started, but contact your local Trusted Choice® Independent Insurance Agent for more information on the right coverage for you.

SOURCE: http://www.iii.org/press_releases/motorcycle-coverage-is-widely-available-through-us-auto-insurers.html
http://www.independentagent.com/Education/VU/Insurance/Commercial-Lines/Auto/Endorsements/FacultyLayUp.aspx