What Motorcycle Insurance Is Required in Your State?
If you have a registered motorcycle, you are required to maintain financial responsibility. This can be in the form of motorcycle insurance or a certificate of deposit with the State Treasurer’s office. To meet the requirements for insurance, you must have $50,000 in liability protection for bodily injury for two or more persons and $25,000 for liability for property damage. Most states are at-fault states, which means that you are going to be liable for all damages that happen due to an accident if you are at fault. If you don’t have adequate coverage, then you can be sued for damages and have your license suspended. While the minimum seems like enough at first glance, with motorcycle accidents, there could be severe damages. If your policy does not cover the losses, then you are responsible for your additional costs. Even if you are not at fault, but the at-fault motorist isn’t insured, the minimum coverage may not be enough to protect your finances.
In the state, a motorcycle is defined as any motorized two- or three-wheeled vehicle, except when it is implemented for farm use or a tractor. This means that motorized bicycles, mopeds, and scooters are considered motorcycles. However, the state only requires that you have coverage for those that have a manual transmission and an engine displacement larger than 49cc.
Additional Coverage Options
Since the minimum coverage may not be enough for you, you may want to speak with an agent at the Platinum Insurance Group to learn about additional coverage options. Collision coverage will protect your motorcycle after an accident under many different circumstances. Uninsured or underinsured motorist coverage can protect you in the case that the driver of another vehicle you collide with doesn’t have insurance or is from another state with lower minimum insurance requirements. Comprehensive coverage is insurance that protects your bike from damages caused by wind, water, vandalism, and theft. Medical payment coverage pays for things like dental care, prescription drug payments, and deductibles from health coverage policies.
Contact Platinum Insurance Group to get a quote on motorcycle insurance.