What Are Motorcycle Insurance Requirements?

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Almost every state requires some form of insurance coverage if you ride a motorcycle. Florida is the only state that does not require any proof of insurance coverage; you are only required to register your motorcycle with the state.

If you financed your motorcycle, your lender will likely require you to have full insurance coverage for your bike. Even if you are not required to have coverage, it’s a good idea to have insurance. It could save you thousands of dollars in out-of-pocket expenses if you get into an accident.

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What Does Motorcycle Insurance Cover?

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Just like cars, there are different types of motorcycle insurance coverage. Some forms of motorcycle insurance cover repairs if you are in a collision with another vehicle, while others cover medical liability and injuries if you are at fault in an accident. Here’s a breakdown of each type:

1. Collision coverage pays for damage to your motorcycle if you’re in an accident.

2. Comprehensive coverage pays for repair or replacement if your motorcycle is damaged by something other than a vehicle accident (such as fire, theft or weather damage like a hailstorm).

3. Liability coverage can include bodily injury or property damage. This insurance pays for things like the medical bills of another motorist if you’re at fault in an accident or repair property if you damage it.

4. Uninsured/underinsured motorist coverage will pay for damages if another driver is at fault in an accident but doesn’t have insurance — or if their insurance coverage is inadequate. Not all states require this coverage, but some do, and it’s good protection to have.

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What Are Common Motorcycle Insurance Coverage Exclusions?

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Read your motorcycle policy carefully, because while some types of exclusions are common sense, others could surprise you. For instance, it makes sense that if you don’t take care of your bike, the resulting damage is unlikely to be covered. The same goes for theft if you left the bike running outside with the keys in the ignition. It’s best to take common sense precautions with your motorcycle.

However, other exclusions are not as readily apparent. Many common motorcycle insurance carriers exclude coverage for accidents that happen during an “organized riding activity.” Don’t assume this just means a race day at the track; an “organized ride” could be a group of friends out on a weekend ride.

Knowing the exclusions on your motorcycle policy is very important, so read your policy carefully. Frequently, items that are excluded in a basic policy can be added — and having that additional coverage could save you thousands of dollars in the event your bike is lost or damaged.