Motorcycle Insurance traditionally functions like an Auto Insurance Policy. You have your standard coverages such as Property Damage & Bodily Insurance Liability, Underinsured/Uninsured Liability, Comprehensive, Collision, and Medical Payments.
Key Points When Purchasing Motorcycle Insurance
Make Sure You Insure Your Customizations
Once you purchase a Motorcycle, more than likely you will start customizing your “bike”. These customizations must be added to your policy. Unless you add them to your policy, the insurance carrier will not pay a claim on customizations. Your insurance agent should review your insurance annually to make sure you have the proper coverage.
Understand The Difference In Stated Amount vs Actual Cash Value Coverage
If you have a collector bike or special addition, you may want to insure your motorcycle for a stated amount. This allows you to insure the bike based on an “appraisal” or “stated value” basis. Doing this will avoid any issues with depreciation based on condition or age.
Frequently Asked Questions About Motorcycle Insurance
You can purchase this coverage online, or with a local insurance agent. We suggest working with a local agent, and combining all your personal insurance policies since you will obtain a discount having multiple policies with one company.