5 Questions to Ask Before Purchasing Motorcycle Insurance

What to Ask Before Buying Insurance for a Motorcycle

  • What Does the State Require?
  • How Does the Premium Compare to the Deductible
  • What Coverage is Available?
  • Can the Owner Bundle Coverage?
  • Does the Insurer Offer Roadside Assistance?

Knowing what questions to ask before purchasing motorcycle insurance is important for anyone who wants a new or used bike. Not all companies offer motorcycle insurance. Those that do many charge new drivers higher rates and offer plans that don’t cover everything. Anyone ready to buy new coverage for a motorcycle should look at the questions to ask and what answers they need.

What Does the State Require?

One of the first questions a motorcycle rider/owner should ask is what coverage the state requires. Most states require that drivers either carry a minimum amount of coverage or that they have the financial means necessary to cover damages that occurred during an accident and any injuries that a rider or passenger sustained. Though riders only need a minimum amount, many find it helpful to carry more coverage. Insurance packages can cover accidents that involve someone who doesn’t have insurance or did not have enough insurance too.

How Does the Premium Compare to the Deductible

Insurers offer rates based on factors such as the driver’s record or history, the age of the motorcycle and the deductible chosen. The money that the insured pays to the company is the premium. Most companies allow customers to pay one month at a time or make payments to get six to 12 months of coverage. When filing a claim, the insured will need to make another payment called the deductible. This can be as little as a few hundred dollars to $1,000 or more. Those who have lower premiums typically have a higher deductible. Drivers with higher monthly premiums have a lower deductible.

What Coverage is Available?

Motorcycle owners should ask their insurers about the types of coverage that are available and how much that coverage costs. According to Nerd Wallet, this can include personal injury protection, collision coverage and medical payments. With collision coverage, the insured only needs to pay the deductible to have the insurer cover the cost of repairing the motorcycle. Personal injury protection (PIP) will pay the medical bills and other costs incurred by passengers on the motorcycle or pedestrians injured in the accident. Medical payment coverage will pay for the medical bills of anyone involved in the accident.

Can the Owner Bundle Coverage?

An easy way to save money on insurance is with a bundle, which is why one questions to ask before purchasing motorcycle insurance is whether bundle coverage is available. Instead of just buying coverage for the bike, the owner can add coverage to an existing package. Companies often offer bundles that include options for homeowners and those who own motorcycles, boats and other vehicles. Bike owners should always ask what comes included in the bundle and how much of a discount they get when they bundle.

Does the Insurer Offer Roadside Assistance?

AAA offers roadside assistance for those who pay in advance. Many drivers opt for the roadside assistance benefits offered by their insurers. This is especially important for motorcycle riders because some tow trucks and towing companies are not equipped to tow and move bikes. Riders may spend hours on the side of the road until the company can find the right equipment. Roadside assistance comes standard from some insurers and does not cost extra. Other companies charge a small amount for the service, which can add to the owner’s monthly premiums.

Related Resource: 10 Best Cheap Motorcycle Insurance Companies 2017

Anyone who rides a motorcycle on the highway or any type of street should have insurance. Not only will it cover any injuries that the rider and his or her passenger has, but it will also cover damage to the bike. Those who own a motorcycle should check out the five questions to ask before purchasing motorcycle insurance.