If you are in the business of selling insurance, you will hear many of the same questions day in and day out. Motorcycle insurance customers are no different and many want to know that they are getting the right coverage for their beloved bike. Here are some of the most common questions about motorcycle insurance and easy answers you can provide to your clients.
1. Do I Have to Pay My Premium in Full?
Motorcycle insurance premiums can be paid annually or monthly, although monthly is more common. Premiums are expected to be paid in full, but many insurers offer payment plans and discounts to help lower the cost of motorcycle insurance.
2. What is Collision Coverage?
Collision coverage provides compensation for damages to the motorcycle caused by a collision with another vehicle or object. If you hit a vehicle while driving, for example, collision coverage will help pay for damages to your motorcycle.
3. What is Comprehensive Coverage?
On the other hand, comprehensive coverage provides compensation for nearly everything except collision that may damage your vehicle. Comprehensive coverage provides compensation for damages to your motorcycle caused by fire, wind, hail, lightning, smoke, theft, vandalism and more.
4. Is My Motorcycle Trailer Covered?
If you have a motorcycle trailer, it is not always automatically covered under motorcycle insurance. Motorcycle insurance policies vary and there are additional coverages for trailers. Simply ask an insurance agent about adding motorcycle trailer coverage to your policy.
5. What is Liability Coverage?
Liability insurance is coverage required by most state laws in order for you to drive legally on the road. This insurance covers bodily injury and property damage you may cause someone else while operating the insured motorcycle. For example, if you run a red light and hit a pedestrian, liability insurance can help pay for the victim’s medical bills and protect you in case of a lawsuit.
6. If My Friend Covered if I Let Them Ride My Motorcycle?
As long as your friend is licensed and has permission to operate the motorcycle, they should be covered under liability in case they cause an accident while driving your motorcycle.
7. Does My Motorcycle Insurance Cover Me Outside of the U.S.?
Basic motorcycle insurance policies often have exclusions for travel outside of the U.S. Some insurance providers offer additional coverage for travel outside of the U.S., however, such as Mexico endorsements for travel into Mexico.
8. Who Can I Add to My Motorcycle Insurance Policy?
Individuals who live in the same household and have the proper licensing may be added to your motorcycle insurance policy. Adding someone to your policy can affect your rates, however, so be sure to speak with an insurance agent.
9. Are My Motorcycle Accessories Covered Under Insurance?
Some accessories may be excluded from basic motorcycle insurance policies, but additional coverage can be added to cover extra parts and accessories for your motorcycle such as luggage, custom parts, alarms, heated grips and more.
10. If I Cancel My Motorcycle Insurance Policy, Do I Get a Refund?
As a rule, refunds aren’t generally provided for cancelled motorcycle insurance policies except in special cases. Any possible refunds should be discussed with your insurance agent.
11. Does My Motorcycle Insurance Policy Include Medical Coverage?
Medical coverage is available on most motorcycle insurance policies for the driver and their passengers. Medical payments coverage covers medical bills the driver and their passengers may face after a motorcycle accident, no matter who caused the accident.
12. Does My Insurance Policy Cover Uninsured/Underinsured Motorist Coverage?
Most states do not require uninsured/underinsured motorist coverage, but this insurance is recommended for protecting bikers and drivers against driver without insurance. This insurance often comes as part of a full coverage motorcycle insurance policy.
13. What is Full Coverage Motorcycle Insurance?
Full coverage refers to the highest amount of coverage you can have on a single vehicle. This varies depending on the motorcycle, but most full coverage motorcycle insurance policies include:
- Comprehensive Coverage: Comprehensive coverage covers damages to the motorcycle caused by fire, wind, hail, lightning, smoke, theft, vandalism and other incidents not involving collision.
- Collision Coverage: Collision coverage covers damages to the motorcycle caused by collision with another vehicle or object.
- Liability: Liability insurance covers bodily injury and property damage the driver may cause someone else while operating the insured motorcycle.
- Medical Payments Coverage: Medical payments coverage covers medical bills the driver and their passengers may face after an accident regardless of fault.
- Uninsured/Underinsured Motorist Coverage: This insurance covers damaged incurred in an accident involving a driver who is not carrying insurance.
- Roadside Assistance: Roadside assistance covers trip interruptions such as running out of gas or needing to be towed.
14. Are There Motorcycle Insurance Discounts?
Insurance agencies often provide discounts for motorcycle bikers including mature driver discounts and bundling discounts.
Also Read: Understanding Motorcycle Insurance Deductibles