05 Dec Guidelines For Buying Motorcycle Insurance In 2017
There are many things to love about bikes – the speed, excitement and even the way it rides. But to enjoy your bike fully, you also need to feel safe while you’re riding it. And when you consider that even the most cautious riders can still get into an accident, you’ll realize how important motorcycle insurance really is.
If you’re looking for motorcycle insurance quotes in North Carolina, I’ve listed a handful of useful guidelines you can follow so you can get the best rates and coverages that suit your needs.
Do You Need Motorcycle Insurance?
Some states do not require you to buy motorcycle insurance however that does not mean you don’t need it. Michigan, New Hampshire, Montana, Hawaii and Washington don’t mandate motorcycle coverage while others with laws governing no-fault auto insurance exclude motorcyclists from PIP coverage.
These states perceive riding a motorcycle as an assumption of risk by the biker, just like rock climbing. What that basically means is that because you are fully aware that you’re engaging in a risky activity, the damage or injury which may result from said activity rests solely on you. Hence, the state does not require insurance providers to offer coverage.
In states that do consider riding a bike to be the same as driving a vehicle, the required minimums for insurance policies aren’t really high and are mostly applicable to liability. States do not require you to get your bike insured against damage caused by an accident, theft or anything else.
So even if you live in North Carolina, your state’s minimum coverage for motorcycle insurance may still not be enough.
There should be a balance between ample coverage and affordability when buying motorcycle insurance. You need to understand the financial risks posed by riding: including the possible cost of damaging your bike or someone else’s property, and the costs that will be incurred if you injure another person. After that, you then need to find ways to save money by getting insurance from a reputable insurer without compromising your coverage.
Types of Motorcycle Insurance Coverage
- Liability (This covers property damage and bodily injury): Expenses that result from injury or damage to others and their property, as well as lawsuits filed after an accident. Liability is required in most states.
- Medical Expenses: This covers your own medical bills following an accident. Some states consider this optional while others require it.
- Uninsured/Underinsured Motorist: If the other person is at fault and does not have sufficient coverage, this type of coverage will take care of your medical and property damage expenses. This also applies to hit-and-run cases. Some states require it, others consider it optional.
- Collision: This takes care of bike repairs following a collision. It is considered optional in all states.
- Comprehensive: This covers bike repairs if it’s damaged by weather, vandalism or anything other than a collision or if it’s stolen. It is considered optional in all states.
- Guest Passenger Liability: This coverage pays for injuries and property damage to your passenger at the time of the accident. This optional coverage is sometimes included in regular liability limits.