Motorcycle insurance is a requirement if you want to operate a motorcycle within the United States. That said, most states only require basic insurance that includes liability coverage.
Who Needs Coverage?
Anyone who operates a motorcycle needs motorcycle coverage, so in that sense motorcycle insurance is similar to car insurance. In both cases you will need liability coverage, yet in the case of motorcycle coverage you have more decisions to make.
Additional motorcycle coverage can include collision insurance, uninsured motorist insurance or a comprehensive motorcycle coverage package.
Collision insurance can be a great supplement to basic motorcycle coverage since collision insurance will pay for almost any damage that occurs to your motorcycle. In fact, collision insurance will likely still apply even if you are found liable for the accident.
Depending on how you store or care for your motorcycle, you also might be interested in comprehensive motorcycle coverage. Comprehensive motorcycle coverage protects you against thefts, fires or other damage that your motorcycle might suffer while stored outside.
In other words, comprehensive coverage goes well beyond the mandatory coverage for your state and even surpasses the amount of coverage in most supplemental motorcycle coverage packages.
Uninsured Motorist Coverage
A comprehensive motorcycle coverage package might also include uninsured motorist coverage. A lot of people have trouble understanding this kind of insurance, but it’s really quite easy to grasp.
The thing to bear in mind is that uninsured motorist coverage is extremely comprehensive and helps protect you even more on the roads. How? Uninsured motorist coverage protects you when you’re hit by another motorist who is uninsured or underinsured.
This provisional type of motorcycle coverage is invaluable for protecting your investment since it provides you with compensation for a possible hospital stay or lost wages.
Another benefit to uninsured motorist coverage is that it might even provide additional motorcycle protection if you’ve gotten property damage coverage as an add-on to uninsured motorist coverage.