When buying motorcycle insurance, it is important that you consider not just what coverage you need, but what the legal requirements of your state are. In many states, you are not allowed to ride your motorcycle on the road without coverage, and you will be fined if you are caught without coverage, and even risk the loss of your bike. And, of course, if you are involved in an accident and you are not insured, you face heavy out-of-pocket costs that could result in devastating financial losses. Before buying a motorcycle, be sure to do your homework and familiarize yourself with your state’s insurance laws.
While every state has its own particular motorcycle insurance regulations, there are a number of mandatory coverage features that are required by all states. For example, you are required to get a minimum level of bodily injury and property damage coverage, which will protect the policy holder against claims made against them in case of an accident in which they are at fault. The prescribed minimum coverage is usually the same for both cars and motorcycles. However, most experts advise that you do not get just the minimum amount of coverage required, in order to ensure that you are adequately protected in case of an accident.
On the other hand, there are several coverage options that most states consider optional on mandatory motorcycle insurance policies. For example, uninsured and underinsured motorist coverage, which pays off the policyholder if they are injured in an accident by a motorist who has no insurance or does not have enough coverage to pay off claims, is considered a not obligatory coverage. However, most states still require insurance carriers to offer this coverage and, if the policyholder opts out of this coverage, his refusal must be in writing. The majority of states also do not require motorcycle riders to have medical expenses coverage, which is also known as Personal Injury Protection, that will pay medical and other expenses resulting from an accident, including lost income and disability expenses.