Motorcycle Insurance Articles
Finding Motorcycle Insurance Coverage For Foreign Bikes
2011-06-29
Motorcycles, including foreign bikes, have been enjoying an increase in popularity over the last few years. This may be due, in part, to the feelings of freedom and excitement that comes from having the wind in your hair as you travel down the freeway or it could have something to do with the steadily rising cost of fuel. Whatever the reason you choose to own and ride a bike you need to find ways to keep the motorcycle insurance costs down.
Although many states do not have a mandatory minimum insurance requirement to register motorcycles it is a good idea to purchase coverage for liability, collision and motorcycle personal injury for you and your passenger anyway. If you are involved in an accident without coverage you could lose your license under the financial responsibility act.
According to the financial responsibility laws in most states you must carry a minimum of $10,000 worth of liability insurance to pay for any property damage and medical expenses in the event that you are at fault for an accident. But liability insurance does not cover you, your passenger or your bike.
To cover damages to your bike you may want to check into a collision insurance policy. Collision insurance will cover the damages to your motorcycle in the event of a crash no matter who is at fault. Repairs to your bike can be expensive and if you own one of the rarer foreign bikes like a Geely or Jinlun then even minor damages could cost an arm and a leg. Collision insurance coverage will help to pay for damages.
PIP or personal injury protection insurance is a requirement in most states but did you know the PIP coverage you have on your car will not cover you if you are involved in a crash on your bike?
In order to protect yourself and any passenger on your motorcycle you will need to add a special motorcycle PIP policy for your bike. Those who ride a motorcycle understand that even the smallest fender bender can result in serious bodily injury and while liability insurance covers those in the other vehicle it will not pay the medical bills for you or your passenger therefore a PIP policy is important addition to your motorcycle coverage.
All of this may sound expensive but there are ways to keep the motorcycle insurance costs down such as opting for a high deductible, excluding drivers, skipping guest passenger liability and of course shopping around for the lowest possible quote.
Although motorcycle insurance costs can be expensive, especially for rare foreign bikes, if you are involved in a collision you will be glad that you have it.