This article from Esurance.com explains all you need to know about buying Motorcycle Insurance. If you’re looking to purchase a motorcycle, you’ll need the insurance to go with it. Here’s a snippet from the article:
If you’re considering a motorcycle purchase, be sure to include insurance in your cost estimating equation. Even though there are a few states – Montana, Washington and Florida – that don’t require motorcycle insurance, if you get into an accident your costs to cover your liability could be crippling.
What does motorcycle insurance cover?
The 47 states that require motorcycle coverage also mandate coverage limits, which varies per state. But there are some policy options to consider:
- Bodily Injury – Pays for medical expenses in the event you, your passenger or the other driver are injured. It also covers expenses resulting from a related death.
- Uninsured or Underinsured Bodily Injury – This covers your medical costs if the other driver is at fault but without any or inadequate insurance coverage.
- Collision – This covers damage to your motorcycle if you are at fault in an accident.
- Property Damage – If there is damage to somebody else’s property due to your bike, property damage insurance protects you.
- Personal Injury Protection – PIP covers lost income, hospitalization and other expenses due to an accident.
- Comprehensive Coverage – If your bike incurs damages from an event other than a collision, such as floods, fire or theft for example, comprehensive insurance pays for repairs or replacement.
- High Risk Coverage – Also known as SR-22, this certificate may be required by the Department of Motor Vehicles (DMV) if you are considered a high risk. An SR-22 may be required for several years following a violation of driving without insurance, with a suspended license or under the influence (DUI).