Motorcycle Insurance Cost: Types Of Coverage And Limits Of Coverage

When it comes to motorcycle insurance, more than anything else, the types of coverage and limits you choose determine the cost of motorcycle insurance.

Basic liability coverage is required in most states, but after that, it’s up to you to choose the types of coverage you want and the limits you prefer.

All motorcycle insurance companies have different rate structures and offerings, but below is general information about how the primary types of coverage and limits of coverage affect the cost of motorcycle insurance.

Primary Types Of Motorcycle Insurance Coverage
With motorcycle insurance, much like auto insurance, the primary types of coverage are:

Typical Limits Of Motorcycle Insurance Coverage
When you’re buying motorcycle insurance coverage, you’ll also choose limits of coverage. These limits are typically applied per injured person and per accident total.

Liability Insurance Limits
With liability coverage, bodily injury limits usually range from $25,000 to $100,000 per person and $50,000 to $300,000 per accident. Common property damage limits range from $10,000 to $50,000 per accident.

Collision Insurance Limits
The coverage limit on collision insurance is typically the cash value of your motorcycle.

Comprehensive Insurance Limits
Like collision insurance, the coverage limit on comprehensive insurance is typically the cash value of your motorcycle.

Uninsured And Underinsured (UM/UIM) Insurance Limits
Uninsured and underinsured motorist coverage limits will usually mirror the limits you’ve selected for bodily injury liability.

Choosing Limits On Your Motorcycle Insurance Coverage
It might be tempting to choose lower limits on your motorcycle insurance coverage, because they cost less. But it’s important to bear in mind that any costs exceeding your coverage limits are typically your responsibility, which is why selecting the right limits is crucial. You need to weigh the benefit of lower premiums against the risk of potential financial ruin if you’re underinsured!

Check With Your Insurance Agent Or Company
Please note that the information provided above is for informational purposes only. For the most accurate, up-to-date, specific information, check with your insurance agent or insurance company.