If you own an motorcycle then you now that there is still open roads and freedom to choose your own path in this country. You may not be aware though that not all insurance companies want to help you experience them. Some insurance companies say they can insure your 2 wheeled baby but when you look at their contract it is not a “real” motorcycle policy. The trick is to not only find an insurance policy that actually covers a motorcycle properly but to also find the insurance company that actually “likes” your particular type of motorcycle.
What is a fake motorcycle policy?
There isn’t fake insurance but there is a policy that doesn’t offer guest passenger coverage, or has no motorcycle accessory coverage, or worse yet does have a way to get your bike properly replaced if it is stolen or totaled in an accident. When you see a motorcycle insurance policy that has these types of exclusions ride, don’t walk, away. You have to be able to know that if someone does something to your bike that your policy will be there to get you back to right.
What makes for a great policy?
Beyond the obvious of having the coverage that we just discussed actually be covered you also have to make sure that the insurance carrier actually likes your type of bike. While one company may love Harleys the next might prefer a Crotch Rocket. The only way to know for sure is to quote your bike with all of the major companies and let their price and their exclusions do the talking for them.
How am I going to get quotes from all those companies?
There is the old pick up the mouse and get to clicking method. Perhaps though you would prefer to actually focus on riding that beast and let an independent insurance agent do it for you. Hey that’s us 😉
What types of coverage are most important for my motorcycle?
You should always know how your guests are going to be covered. Guests are anyone who rides on the bike as a passenger. Along with collision coverage and comprehensive coverage (e.g., Your bike is stolen) guest passenger coverage is probably the three most important details of any good policy. Of course guest passenger is most important so look for a policy that includes it or has it as an optional coverage that you can add. One last thing to consider is uninsured and under-insured motorist coverage. If someone hits you while riding and they do not have any or do not have enough coverage and you become injured those medical bills can add up real quick. Your major medical insurance is ALWAYS your primary coverage but in the event that you have a high deductible or worse a limit on your health care expenses the un-/under-insured coverage may be your saving grace.
Should I have liability limits greater than State Minimum on my motorcycle insurance policy?
Most times I see people just match their limits to what they have on their car insurance. This is fine UNLESS your car insurance is State Minimum limits. In Arizona the minimums are $15,000 per person and $30,0000 per accident of bodily injury insurance with $10,000 in property damage protection (damage you cause to other people’s property). This is often referred to as 15/30/10. Now I know that if you hit a car with your bike the damage to the other person’s car may be limited however the damage to you may be more substantial (not to mention a guest passenger). As part of your overall protection I always recommend getting the most coverage you can afford. When it comes to increasing the liability coverage this may be easier to afford than you think. Have your agent quote you a low level, a medium level, and a high level of bodily injury protection. You may be very surprised that in many cases you can get two to three times as much coverage for not much more in premium costs.
Putting it all together :!)
OK so you have made sure that your motorcycle policy is in fact a motorcycle policy. You have found out that you can get more bodily injury coverage for not a lot more premium. You also made sure that your company actually likes your type of motorcycle. Anything else? The last thing is to make sure that you are getting something for your efforts as a bonus for you. Does your motorcycle insurance policy give you a discount on your other insurance policies? If not then you are leaving money on the table. It doesn’t always work out to a huge discount (5%-10%) but it is your money right? So that’s it; now you can enjoy your ride…until next policy renewal 😉
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ONLY READ THIS BONUS SECTION IF YOU LIKE EASY
All Your Insurance, inc. can make all of this really easy for you. We not only do all the research on every policy that we sell we research the carrier’s policy BEFORE we agree to sell it. We also make sure that we compare all of the levels of coverage for every client not only on their motorcycle policy but also on all of their policies. You will make the final decision with us but it will be a decision on purposes and not without all of the facts. We not only do this once but for every policy and every renewal offer. We know that if we don’t continue to fight for your business even after the initial sales that we are not going to be the number one thought you have when it comes to insurance. And we mean to be your number one advisor for All Your Insurance.
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