Majority of states require motorcycle drivers to have liability insurance for paying for bodily injury or property damage sustained by another party in an accident that you’re at-fault for. Aside from liability insurance, lots of states also have required minimum limits for liability insurance coverage.
For example, according to a motorcycle insurance provider in Chicago, IL, you need to have $15,000 coverage for property damage, $20,000 coverage for bodily injuries or death for one individual, and $40,000 coverage for bodily injuries or deaths for multiple individuals. In general, however, the following are basic motorcycle insurance coverage types:
- Property Damage Liability: This would pay for property damage you caused to another individual’s property.
- Bodily Injury Liability: This would help pay for bodily injuries that resulted from an accident you’re at-fault for.
- Collision Coverage: This would aid you in paying for repairs if your motorcycle is damaged due to an accident.
- Comprehensive Coverage: This would help in paying for bike repairs if it got damaged because of other means, like vandalism for example.
- Personal Injury Protection: This would help cover the medical costs you incurred if you got hurt in an accident.
- Underinsured Motorist: This type of coverage could be applied when you get into an accident due to another driver’s fault, and his or her insurance coverage isn’t enough to pay for your costs.
- Uninsured Motorist: This would help cover your costs if you get into an accident that an uninsured motorist caused.
- Accessory Coverage: This would cover costs for custom components and equipment on your motorcycle.
- Roadside Assistance: Likewise called the labor and towing coverage, you could use this for covering costs associated with breakdowns.
It’s crucial to note that coverage limits imposed by states that require motorcycle insurance are usually on the lower side, which means that it’s usually insufficient. That being said, consider buying higher limits and additional types of coverage.
Do note though that not all insurance providers offer the same kinds of insurance coverage. Your best bet is to consult a reputable insurance provider in your area to learn more about your options and how much insurance coverage you really need.