More About Motorcycle Insurance
What is Motorcycle Insurance?
Like all motor vehicle insurance policies, motorcycle insurance is designed to help bike owners cover costs related to unexpected, unavoidable accidents involving their bikes. Motorcycles are not immune to accident or other damage risks, nor can riders avoid the costs that might arise from these hazards. Coverage essentially takes the benefits of auto insurance and customizes them to bikers’ needs.
Why is Motorcycle Insurance Important?
Motorcycles are much riskier to operate than they average car. They:
Do not insulate the driver from the road in the way that the standard car does.
Require more control and balance practices from the rider.
Are often harder to see on roadways due to their small sizes.
All these liabilities increase the risk of accidents occurring, which is why the biker needs quality insurance benefits. It is those benefits that will offer you the financial help you need when costly accidents occur.
What Does Motorcycle Insurance Cover?
Your motorcycle insurance benefits can offer numerous types of coverage, which you can use to your advantage in numerous loss scenarios:
Comprehensive Coverage: This provides compensation if the motorcycle is damaged or lost due to fire, theft, vandalism, hail or wind.
Collision Coverage: This provides compensation if the motorcycle is damaged or lost due to collision with another vehicle or object.
Liability Insurance: This covers bodily injury and property damage the insured biker may cause while operating the vehicle.
Personal Injury Protection: This insurance helps with medical expenses for the driver and their passengers in case of an accident, no matter who is at-fault.
Guest Passenger Liability Insurance: This coverage steps in if a guest driver causes an accident while operating the motorcycle with the owner’s permission.
Uninsured/Underinsured Motorist Insurance: This insurance steps in if the insured vehicle is involved in an accident with a driver not carrying insurance.
Other benefits that you can also use to your advantage include:
Custom parts coverage
How Much Motorcycle Insurance do I Need?
By law, all Missouri drivers, including motorcyclists, must carry at least:
$25,000 bodily injury liability coverage per person
$50,000 bodily injury liability coverage per accident
$25,000 property damage liability coverage
$25,000 uninsured motorist bodily injury coverage per person
$50,000 uninsured motorist bodily injury coverage per accident
Additionally, if you have financed your bike, then you might be required to carry collision, comprehensive and gap insurance.
Please note, it’s important that you consider carrying more coverage than just the minimum benefits required of you. We’re here to help you optimize your coverage to your advantage.
What Does Motorcycle Insurance Cost?
We know that you want to be cost-conscious when insuring your bike, and we’ll work side by side with you to help you get the coverage that will remain affordable while still providing you with the right balance of benefits. Our carrier partners offer competitively priced, benefits-packed policies that will always offer the policyholder the best benefits at prices that can fit into any budget.
Tips How To Save on Motorcycle Insurance:
Safety course completion – you can save money on insurance if you show proof that you have completed the motorcycle safety course and having a motorcycle endorsement on your license.
Organization member discount – additional discounts available if you are a member of a motorcycle club or other organization (i.e. Harley Owners Group HOG). Often these organizations partner with insurance companies to offer their members discounts. They also provide great resources and inform you of any riding events close to you.
Multi-bike – get discounts by insuring multiple motorcycles or even insuring an auto with the same insurance company for multi-policy discount.
Garage your motorcycle – If you keep you motorcycle in an enclosed structure while not in use, you qualify for an additional discount because it lowers your risk of theft.
Choose the right motorcycle – If you own a sports bike, you are likely paying higher premiums than traditional road bikes due to a higher risk. Always check with your insurance company before buying a motorcycle to avoid surprise premiums.
Pay in full – insurance companies offer significant discounts if you pay your premium in full for the whole year.
Low mileage discount – if you are riding only on sunny weekends as opposed to riding to work every day, you would qualify for lower premium due to less time spent on the road.