Motorcycles come in all shapes and sizes. They’re not all made the same and as a result, they all have different types of risks, values and insurance needs. If you've just purchased your first bike and you’re anxious to hit the road, your first step should be choosing the right amount and type of coverage for your bike. This means carefully considering the type of bike you own.
What Types of Bikes are Covered?
Motorcycle insurance is varied. That is, not all insurance companies offer the same amount and type of coverage. Some do not cover specific types of motorcycles. Most types of bikes require coverage if they are used on public roads. That includes:
- Classic bikes and motorcycles
- Trike conversions
- Touring bikes
- Sport cycles
- Custom bikes (these often require specialized policies to cover their actual value)
But, what type of motorcycle insurance should your bike have? Most states have requirements of motorcycle operators. This will apply specifically to liability insurance (protection for other people on the road in the event that you cause an accident or a type of covered loss). In addition, you also need to consider the value of additional policies and coverage types, such as:
- Comprehensive coverage to protect the bike from accidents related to falling objects, fires and theft.
- Roadside assistance policies to help you if your bike breaks down.
- Equipment and accessory coverage, which is very important in situations where the cost of replacing these high-end accessories is high.
If you have a classic motorcycle, customized bike or other high-valued bike, it is best to have a policy that takes this value into consideration. Specifically, you may want a policy that's right for your vintage bike that you keep in storage or the customized bike you take out on the road every weekend.
Motorcycle insurance is available for most types of bikes. If you can operate it on public roads and it requires a license to do so, chances are good you'll find insurance plans available for it. It's always a good idea to choose a comprehensive plan that insures the value of your bike and minimizes your risks with liability protection.