Each state’s motor vehicle insurance policy has specific provisions relating to different types of vehicles. Since cars and motorcycles are technically motor vehicles, some people question whether their car insurance covers them while riding a motorcycle. The following points can shed some light on this type of insurance coverage.
Generally speaking, your car insurance or homeowner’s insurance policy coverage is very specific and does not cover motorcycles. Motorcycles usually require their own dedicated insurance policy, with the costs based on the replacement value of the motorcycle, the policyholder’s risk profile, and other details. Motorcycle coverage may cost approximately the same amount as car insurance.
Motorcycles Have Unique Risks
When compared to cars, motorcycles present a higher injury risk for riders and more damage to the bike. Even if a rider wears safety gear, their body is more vulnerable while riding a motorcycle.
Accidents at higher speeds can cause significant injuries or death and damage, and if riding with a passenger, both people could suffer significant injuries.
What Factors Affect Insurance Rates?
Motorcycles generally cost less than automobiles to purchase and repair, but the cost is still a factor in policy premiums. The bike’s model, purchase price, and cost of potential repairs factor into the insurance rates. Additionally, motorcycle insurance is similar to car insurance because it has comprehensive, collision, and liability coverage types. Like car insurance, the deductible and the amount of coverage per accident per person will influence the policy’s cost.
When purchasing a motorcycle insurance policy, you may need to ask for certain types of coverage to ensure you are covered in different accident scenarios. Some important questions include:
- Will a lienholder such as a bank require you to carry collision coverage if you have financed your motorcycle?
- Does the policy cover medical expenses for passengers?
- Is there an off-season (such as snowy months) for motorcycles, and if so, is the bike still covered while garaged?
- In an accident, would you get reimbursed for personal equipment, such as helmets?
Understanding the nuances of motorcycle insurance can help you select the right insurance company and ask informed questions. Understanding your unique risks can help you make better choices about the right type of coverage for you.
Questions? ASK THE LAWYER. Call 855-768-8845 or schedule an appointment at 855-768-8845. The lawyer you hire does make a difference!