Types of Motorcycle Insurance Coverage Explained

Taking your bike out on the road can be an enjoyable way to explore the world or add excitement to daily errands. However, motorcycles’ high speeds and slight stature make them inherently risky, even for expert riders. Your bike also represents a significant financial investment and potentially carries sentimental value. With these things in mind, responsible bikers must take many precautions, including securing appropriate motorcycle insurance coverage.

What Is Motorcycle Insurance?

Like standard auto insurance that you might purchase for a car, motorcycle insurance can provide financial security in the wake of various incidents involving your bike. By securing an adequate policy, you establish a legal contract with your insurance company; in exchange for your premiums, you retain the right to file a claim for financial assistance following covered losses. If approved, your coverage can provide a payout up to your policy’s limits and minus your deductible, thus potentially limiting what might otherwise be catastrophic out-of-pocket losses.

What Types of Coverage Should Be in Your Policy?

Motorcycle insurance may often be customized and tailored to suit your unique circumstances, including your coverage needs, budgetary capabilities, risk tolerance and other preferences. Still, while these policies can be heavily personalized, the importance of several features may transcend the specifics of your situation and be advisable for most riders. When assembling your coverage, consider prioritizing the following components:

• Bodily injury liability coverage can provide financial assistance if you are at fault for an accident that injures another party.
• Property damage liability coverage can compensate other parties if you are responsible for damaging their buildings, vehicles or other property.
• Collision coverage can assist with repair or replacement costs if your bike is damaged in a crash with another vehicle or object.
• Comprehensive coverage teams up with collision coverage by providing financial protection for incidents other than crashes, such as fires, theft and vandalism.
• Medical payments coverage can help pay for health care costs if you or your passengers are injured in an accident, regardless of who was at fault.
• Uninsured/underinsured motorist coverage can help you recoup your losses even if another party is not carrying sufficient insurance.
• Custom parts coverage can render financial aid for losses involving enhanced or customized features of your bike.
• Gear coverage can financially protect your riding equipment, including your helmet, jacket and gloves.

Get the Right Coverage

At McDonald Insurance Group, we have a knowledgeable team of coverage professionals who are fully committed to helping motorcycle enthusiasts protect themselves and their bikes with optimal insurance policies. Visit our website or call 303-957-1742 to learn more about your options or to get a personalized motorcycle insurance quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.