Why You Need Motorcycle Insurance

When determining whether you need motorcycle insurance, a major factor in your decision should be the state in which you have registered your motorcycle. Laws in 47 states require that bikers carry insurance for their motorcycle. The only states that don't have this law are Florida, Washington, and Montana. However, even if you live in these states, it is still a good idea to have motorcycle insurance. There are about 8.4 million motorcycles registered. This represents only 3 percent of all the registered motor vehicles. However, motorcycle riders are about 29 times more likely to die in a collision compared with the occupants of other vehicles.

Whether you live in a state that requires drivers to have motorcycle insurance or not, you will have an easier time deciding on coverage if you have a good understanding of the types of policies offered by insurance companies.
motorcycle on the road

Is Motorcycle Insurance Required By Law?

Whether you own a truck, motorcycle, or car, if you decide to operate a vehicle on public roads, it must be registered with the Department of Motor Vehicles in your state. One of the main requirements for motor vehicle registration is proof of insurance coverage for the legally required minimum property damage and bodily injury.

The purpose of bodily injury and property damage insurance is to protect against claims filed by parties in the event an accident is caused by you. If the occupants of another vehicle — or pedestrians — end up suffering physical injuries and are able to prove that you were at fault, your insurance company will face the financial burden of compensating them under the bodily injury coverage. Property damage coverage is intended to cover the cost of damage that you cause to a vehicle or other forms of property — such as a building or fence.

Motorcycle Liability Insurance

Mandatory minimums are representative of the least amount of coverage you need to remain in compliance with state law. The mandatory minimums are generally represented as three figures. These figures translate into the following coverage requirements:

$15,000 is the maximum that your insurance company will pay to an individual killed or injured in an accident deemed your fault.
$30,000 is the maximum that the carrier will pay for any claims filed for two or more people in an accident.

$5,000 is the maximum that a policy will pay for a property damage claim for one accident.

For more information about why you need motorcycle insurance, don't hesitate to contact us.

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