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Do I Need Special Motorcycle Insurance?

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  • Written By: Carol Francois
  • Edited By: Bronwyn Harris
  • Last Modified Date: 05 November 2016
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All motorcycle riders need special motorcycle insurance. Insurance is a service purchased in advance to provide financial coverage in the event of an accident, theft, or damage. If any of these events occurs, the insurance policy holder files a claim with the insurance company for financial compensation. All owners of any two- or three-wheeled motorized vehicle that is legally rated for use on main roads and highways will need special motorcycle insurance. This classification includes scooters and mopeds.

Insurance policies provide coverage for both the policyholder and other users of the vehicle. They provide funds for medical treatment, repairs to public and private property and death benefits, in the event of an accident. You need special motorcycle insurance from an insurance company that provides both liability and comprehensive coverage.

Liability coverage is less expensive and provides reimbursement or cost recovery in situations where the policyholder or motorcycle rider is liable. It covers damage that occurred due to an accident or situation where the driver was deemed responsible. Repairs to the policy holders motorcycle are not covered, just damage to property and other people. Comprehensive motorcycle insurance covers both the motorcycle rider and everyone else. This type of insurance is more expensive, but is an ideal product if you do not have funds set aside to repair any damages to your motorcycle yourself.

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Payment options for motorcycle insurance also vary. There are three options: pay in full in advance, or choose 12 or six equal payments, spread out over the year. The availability of these options depends on where you live and the insurance companies risk assessment.

Paying for insurance for the entire year in advance is an option with all forms of insurance. This payment plan is easy to remember and provides assurances that you are covered for the full year. The 12 equal monthly payments are available only in locations where the motorcycle can be used year round. This type of payment option is the most popular, and is consistent with auto policies.

In cold climates, where the motorcycle can only be used for a portion of the year, the most common payment method is six equal monthly payments. The insurance companies’ greatest risk of claims is during the months when the bike is in use. That is why payment is required during this period. Make sure that you keep your payments up to date, as you need special motorcycle insurance to keep your riding license in many states.

In order to obtain a lower rate for motorcycle insurance, investigate safety courses or a motorcycle vehicle license. Both these types of classes provide enhanced training on collision avoidance and safe riding techniques. Insurance companies offer lower rates to drivers who have taken these classes, as they have a reduced rate of accidents. Protect yourself and save money at the same time by investing in a safe motorcycle driving course.

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