No matter how often you use your motorcycle, you need insurance to protect you while you’re out on the road. Motorcycle insurance gives you the coverage you need.
Do You Have to Buy Motorcycle Insurance?
Wisconsin state law requires you to carry several types of coverages. This includes at least $25,000 in bodily injury liability per person, $50,000 in bodily injury liability per accident, $10,000 in property damage liability, and uninsured motorist coverage. You don’t have to carry collision and comprehensive unless you took out a loan to buy your motorcycle, and the lender requires it.
What Does Motorcycle Cover?
Motorcycle insurance is similar to car insurance. It contains several standard options.
Liability coverage pays for what you do to others in an accident. Bodily injury liability pays for their medical bills. Property damage liability pays to fix or replace their car. When you have liability coverage, your insurance company handles any claims or litigation on your behalf and pays up to your policy limits. Your liability coverage does not apply to your injuries or property damage.
Collision and Comprehensive Coverage
Collision and comprehensive coverage pay for things that happen to your motorcycle. Collision coverage protects you if you get into an accident. Comprehensive coverage protects you if your motorcycle is stolen, hit by lightning, or has other non-accident damage. These coverages typically reimburse you for the current value of your motorcycle. If you recently purchased a new motorcycle, you may be able to add new replacement coverage to replace it with a new one.
Uninsured and Underinsured Motorist Coverage
Uninsured and underinsured motorist coverage protects you when another driver doesn’t have insurance to pay for your accident expenses. Uninsured motorist coverage applies to drivers who illegally drove without insurance. Underinsured motorist coverage protects you when the other driver had minimum or very low limits that were less than your claim. Without these coverages, you would have to spend time and money suing the other driver in court and hoping they had enough money to pay you if you won.
Emergency Roadside Coverage
Unlike a car, you don’t have much room for tools or a spare tire if something goes wrong while you’re riding. You may also need help fast in case of bad weather. Emergency roadside protection sends out fast help with many basic services included with your insurance policy. You’ll also be able to take advantage of pre-negotiated rates for more significant fixes, so you don’t need to worry about getting taken advantage of by an unknown tow company.
How Much Coverage Do You Need?
The main purpose of buying motorcycle insurance is to protect your assets if you cause an accident. Your motorcycle itself is virtually always covered for its current value. Your primary choice when buying insurance is how high to set your liability limits. While you may be a careful rider, anyone can make a mistake that leads to significant property damage, serious injuries, or even death. If a claim against you exceeded your insurance limits, the plaintiff could go after your other assets. Many people choose to set their liability limits at least as high as their net worth and sometimes account for future income as well. You may also want to combine your motorcycle insurance with an umbrella policy.
Does a Safety Course Help Your Insurance Rates?
Yes, many insurance companies offer a discount for taking a safety training course. This can range from a basic course to more advanced courses. How long the course is good for varies based on your insurance policy.
Does it Matter How Often You Ride Your Motorcycle?
Yes, your rates may vary based on whether your motorcycle is your only or primary method of transportation versus something you only use on the weekend. Your insurance application will ask for your typical use and mileage. There are also seasonal policies available where you can drop most of your coverage during the offseason to save money but still be protected from theft or damage that happens while your motorcycle is in storage.
Do Experienced Riders Get a Discount?
Yes, experienced riders often get a discount. It takes time to develop good defensive driving habits that can keep you out of trouble when surrounded by unaware drivers. Most insurance companies will discount your rate after having your motorcycle license for several years.
Are Accessories Covered?
Accessories you add to your motorcycle may be permanently attached, but they’re typically not covered unless you buy additional coverage specifically for them. A basic motorcycle insurance quote is based on the standard features for your year, make, and model. If you request additional coverage, you’ll need to provide receipts or other proof of value for your accessories if you ever have to file a claim.
Should You Get Motorcycle Insurance From Your Car Insurance Policy?
Motorcycle insurance is a separate product from car insurance. Some insurance companies will give you a discount for bundling both policies with them. However, even with that discount, it can still be cheaper to go with two separate insurance companies. The only way to know for sure is to request quotes for your motorcycle and car individually as well as together.
Talk to Your Insurance Agent
To get help figuring out what coverage you need and where to find the best rate, talk to your independent insurance agent. Sagen & Associates Insurance is located in Kenosha and Brodhead, WI. Contact us now to get started.