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Types of motorcycle insurance and where to get them

Types of motorcycle insurance and where to get them

Many people get their motorcycles insured because state registration laws demand it. But what they do not realize is that apart from abiding by the law, having motorcycle insurance is super-useful when it comes to protecting the rider, the vehicle, even any property, or a bystander in the case of an accident. And despite its policy costs ranging from a few dollars to more than a thousand dollars (based on the rider, bike, and location), an insurance policy helps lighten the load when it comes to paying for any damages. However, each insurance policy has its pros and cons. Some may cost more and offer limited benefits, while others may offer an efficient insurance cover at half the price. Therefore, whether someone is about to opt for a fresh insurance policy or switch from an existing one, it’s always better to narrow it down to the best companies out there.

But before we get into that, let’s first understand the different types of motorcycle coverages out there.

Motorcycle collision
Motorcycle collision coverage takes care of damages the bike suffers if the rider is in an accident with another vehicle. However, it is crucial to note that it does not cover any damage caused to the other vehicle/s, nor does it cover any medical expenses for either party involved.

Custom part coverage
Many comprehensive and collision coverages from companies only insure the original factory parts when it comes to motorcycle insurance. But a few companies also offer coverages for custom parts that include the vehicle’s custom paint job, sidecars, and chrome accessories.

Comprehensive coverage
Also known as “other than collision” coverage, comprehensive coverage enables the insured to replace or repair their vehicle if it is stolen or damaged in an incident unrelated to a collision. It may include vandalism, fire damage, or damage caused by the fall of an object, such as a tree, on the car.

Uninsured/underinsured motorist coverage
Such coverage applies to those properties that are in a collision with another but have insufficient or no insurance coverage. It also covers other factors like property damage, medical bills, and lost wages. There are states where it is mandatory to hold an Uninsured Motorist policy by law.

Bodily injury liability
Perhaps, this is the most crucial type of coverage. This type of coverage secures the person financially in case of a bodily injury and property damage liability lawsuits when it comes to an accident that involves another motorist. Certain insurers also offer guest passenger liability coverage in the policy or sell it as an add-on, which is an excellent cover to hold on to.

Apart from the five policies mentioned above, other coverages such as umbrella insurance and renters insurance are suitable for motorists. Also, now that we have an idea of what types of coverage are available to motorists, let us take a look at the popular insurance companies in the market.

  • Geico
    Geico is one of the popular and preferred motorcycle insurance companies because of their attractive prices and their options for accessory protection. The company offers comprehensive and collision policies that cover bike accessories, even the helmet. The brand also offers free emergency roadside service and up to seven various discount options to pick from. Further, Geico lets the consumer pay a lump sum for their insurance or through a payment plan. Focused on effective after-sales experience, the insurance company also features 24/7 customer service accessible via their mobile app, live chat, or a phone call.
  • Progressive
    Progressive is best for those looking for an insurance company that includes many benefits while throwing in generous discounts on the top. They also have exceptional add-on coverage options, making their policy a suitable purchase for daily commuters. Several of these add-ons get included at no additional cost, rendering it a value-for-money deal. The company also offers original equipment manufacturer coverage. This means that if any part of the motorbike, original or custom, is damaged, it is replaced by the same part. Progressive is also known for its accident forgiveness programs, which help the insured keep their premium payments well within the expected limit.
  • Markel
    Markel is the perfect choice for motorcycle enthusiasts with more than one bike, as the company caters to multi-vehicle discounts. These discounts reduce the buyer’s quote if they own more than one insurance policy with Markel. It also offers coverage for several types of motorcycles, such as sports bikes, big twins, cruisers, dirt bikes, and scooters. Apart from their 8+ available discounts, the company also provides coverage for mechanical breakdowns and an available accident forgiveness program. What’s more, one can always get in touch with the company’s 24/7 support team over the phone for their claims.
  • Dairyland
    Dairyland is another one of the popular insurance companies out there that sport most of the bells and whistles one would need in their policy. The company also encourages motorcycle safety by offering select rider training courses. Completing such a course makes the consumer eligible for their incentive program that offers multi-policy discounts, driving record discounts, and even motorcycle association discounts. Dairyland also offers SR22 insurance coverage, which specifies that the rider meets the state’s car insurance coverage requirements when they drive over a specified amount of time. People generally require this coverage if they are linked to previous violations, including reckless driving, DUI or DWI, at-fault accidents, driving without insurance coverage, or a suspended license.

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