Plan Outline.

Much like car insurance, motorcycle insurance companies offer several different types of insurance policies for the motorcycle enthusiast. All states require some type of minimum coverage liability insurance, above that; all other types of coverage are optional. Some of these include collision, comprehensive, uninsured or underinsured motorist coverage and other special coverage options, which can be built into your plan. On top of liability insurance if you finance or lease your bike the financing company may require that you also have collision coverage. Collision coverage will pay for any damage to your bike and any medical costs up to a certain amount. Collision only covers you and your bike in an accident, liability will cover the other driver or if you were in a single vehicle accident then collision would cover you whereas liability would not. Collision will also cover replacement of safety equipment like helmet or special armored gear used to protect from road burns. This will be covered up to an amount predetermined by your policy.

Comprehensive insurance offers broader coverage than collision and liability. Comprehensive will often cover any flood damage, theft or vandalism and even damage to you bike caused by an animal, like a collision with a moose. Comprehensive also encompasses collision and liability. How much insurance will pay out is determined by what kind of policy you purchase. You always want to purchase enough insurance to cover the cost of your bike should it need to be replaced in the event of a total loss. Motorcycle insurance companies base insurance eligibility on the validity of your license and your credit score. If you have a valid motorcycle operator’s license and have a decent credit score you will be able to obtain inexpensive motorcycle insurance. Surprisingly, motorcycles are not expensive to insure even though they can cost more than a luxury car. Also, see physical damage considerations.

There are additional items that can be added on. For instance, special coverage for specialty parts or equipment, custom and limited edition bikes or trikes coverage, coverage for vintage or kit bikes, towing and labor and roadside assistance. All of these are contingent upon purchasing a comprehensive plan. It can be quite expensive to add them on individually. There is also a special endorsement available for the replacement of original manufactured parts in the event of a collision or theft/loss. Experts who are in the industry are suggesting that you get at least three free quotes online!