What is Motorcycle Insurance?
Motorcycles are exhilarating to ride, but there is substantial risk involved. Many people are seriously injured or die while on motorcycles each year, and personal injury is in addition to many other potential perils (e.g. theft, vandalism, etc.). Motorcycle insurance won’t prevent something bad from happening while riding, but it may provide Massachusetts riders with financial assistance in the event of a valid claim.
Motorcycle insurance is a specialized type of auto insurance that’s specifically developed to cover motorcycles and their riders. Because this is a specific type of policy, bike owners should work with a specialized agent when shopping for coverage.
Who in Massachusetts Should Protect Themselves With a Motorcycle Policy?
Most motorcycle owners in Massachusetts should insure their bike with a motorcycle policy. State law normally requires any vehicle that’s driven on public roadways to be insured, and not carrying insurance leaves riders exposed to potential losses beyond any legal consequences.
Of the different auto insurance policies that are available, motorcycle policies tend to best provide the combination of coverages that motorcycle owners need.
What Coverages Do Motorcycle Policies Come With?
Motorcycle policies that are offered within Massachusetts generally come with at least the state’s minimum coverages and limits, and many policies provide additional protections. A few mandatory and optional protections that any given policy might offer include:
- Personal Injury Protection, which may cover injuries to people who are riding a bike
- Bodily Injury Liability Coverage, which may cover injuries to people not on a bike
- Collision Coverage, which may cover multi-vehicle collision damage to a bike
- Comprehensive Coverage, which may cover non-collision damage to a bike
- Personal Damage Liability Coverage, which may cover damage to others’ property
- Accessories and Custom Parts Coverage, which may cover aftermarket parts on a bike
- Personal Belongings Coverage, which may cover belongings kept on a bike
- Underinsured and Uninsured Motorist Coverage, which may cover improperly insured drivers’ accidents
How Much Do Motorcycle Policies Cost?
Premiums for motorcycle policies vary, as they’re based on many different factors. Some of the items that can impact how much a particular rider pays for coverage are the rider’s:
- Age, gender and marital status
- Driving record (for both cars and bikes)
- Annual distance ridden
- Year, make and model of bike
For an accurate idea of how much coverage will cost in a particular situation, motorcycle owners should contact an independent insurance agent who’s familiar with these policies. Since an independent agent isn’t tied to any one insurer, they’re able to request quotes from multiple insurance companies. Having several quotes makes it easy to compare policies’ prices.
What’s the Difference Between Agreed Value and Actual Cash Value Policies?
Motorcycle policies may be underwritten as either agreed value policies or actual cash value policies. The former usually insures a bike for a pre-arranged amount, while the latter typically sets a policy’s coverage limit to equal the bike’s fair-market value. (The limits referred to in either case are generally only for protecting the bike against damage, theft and loss.)
There are situations where each type of policy is preferable. Many bikes can be insured with an actual cash value policy, but agreed value coverage is sometimes helpful when a bike's rare, is customized or has other considerations. An insurance agent can help determine which option offers the best protection for a given bike.
How Can Motorcycle Owners Get Motorcycle Insurance?
For help finding motorcycle insurance in Massachusetts, get in touch with the independent insurance agents at Roger Keith & Sons Insurance. Our team has helped many riders in the state insure their bikes, and we’re ready to assist you.
