Motorcycle insurance is an essential part of owning a motorcycle. It is a mandatory legal requirement in some countries, with many states in the U.S. requiring it for certain vehicles as well. There are many factors to consider when looking for motorcycle insurance, such as your state and the type of bike you own and ride. Here are types of motorcycle insurance to consider as well as some of the factors you should consider when thinking about motorcycle insurance.
Types of Motorcycle Insurance
There are several types of insurance that could be purchased for a motorcycle. Here are just a few of them.
- Full Coverage Insurance: This is most likely going to be the type of insurance you will plan on purchasing for your bike. Full coverage insures you for any and all damages that may occur to your bike while you are riding it. There are several options you can add onto full coverage insurance such as liability cover, collision cover, and comprehensive cover. Liability cover is insurance to protect you if you are at fault and someone is injured or their property gets damaged. Collision covers insures your bike in the event of an accident while comprehensive insure your bike in the event of fire or theft while the bike is parked.
- Limited coverage Insurance: There are many different types of limited coverage motorcycle insurance. The most common type of limited coverage is collision insurance, which will protect your bike in the event it is damaged or stolen while parked, but not from damage from an accident with another vehicle. Liability cover is a form of limited cover that insures you to protect you if you are at fault and leave the scene of an accident. A different type of limited cover is windscreen insurance, which insures the bike in the event your windshield gets broken or damaged when parked.
- Third party Insurance: This type of insurance is required by some countries with motorcycles. This type of motorcycle insurance covers the third party in an accident and not you as the owner.
- Medical Insurance: This type of insurance covers you in case you get hurt while riding a bike or if someone gets hurt while riding your bike. It pays for medical treatment to treat any injuries that may happen from a motorcycle accident.