What is full coverage motorcycle insurance?

What does full coverage motorcycle insurance cover?

There's no consensus on precisely what the term means. Full coverage actually isn't a coverage type at all, but rather a term that lenders, insurers, agents, and customers may use to refer to policies that include physical damage protection in addition to liability coverage. Depending on the insurer, it may consist of other optional coverages as well. Because the term doesn't have a strict definition, different insurers may include various optional coverages in a full coverage policy.

The term full coverage motorcycle insurance often refers to policies with the following coverages:

Liability coverage

Liability coverage required by law in most states, that typically pays for damage you cause others. It protects you from financial loss if you injure someone, their property, or another vehicle, but it won't pay to repair your bike.

Comprehensive coverage

Motorcycle comprehensive coverage covers repairs to your motorcycle when forces damage it outside of your control, like natural disasters, vandalism, and theft.

Collision coverage

Motorcycle collision coverage pays for damage to your motorcycle that results from a collision, regardless of fault — and even if you were the only driver involved. It can repair your bike when you hit a telephone pole, cause an accident with another motorist, or lose control and drop the bike on the roadway.

Other additional coverages may include accessories coverage to pay for upgrades and modifications or carried contents coverage to pay for other belongings you have with you on your bike when it gets damaged. Depending on the insurer, these coverages may be automatically included, or you may need to add them separately. Progressive, for example, includes a minimum of $3,000 in accessories coverage with all physical damage protection policies.

Is full coverage motorcycle insurance required?

Most states require you to carry liability insurance by law. However, lender and lease agreements also require at least comprehensive and collision coverages — and they may refer to “full coverage” in the loan or lease terms. If your lender requires physical damage protection (comprehensive and collision), you'll need to carry them even though the law does not require it. If you own your bike outright or your loan agreement doesn't require more than the state-mandated minimum coverages, you're free to choose whether or not you want optional protections for your ride. Learn more about motorcycle insurance requirements by state.

How much is full coverage motorcycle insurance?

Any plan with physical damage protection or other optional coverages will typically cost more than a policy that only offers the bare minimum required by law. The exact cost will depend on details like your location, driving history, the make and model of your bike, and much more. Learn more about motorcycle insurance cost.

Should I get full coverage on my motorcycle?

When you're customizing a policy, it's best to start by figuring out what specific motorcycle insurance coverages are right for your situation and then asking your insurer for a policy that includes them. Since the term isn't clearly defined, just because you request “full coverage” doesn't mean you're getting the coverages you want, or you may even be paying for coverages you don't need.

A good starting point for thinking about optional coverages is to ask yourself what you could afford to spend on a sudden expense if your motorcycle were damaged and you had to pay for repairs out of pocket. Compare that to the cost of a policy with the coverages you'd like and to your bike's value — the more valuable the motorcycle, the more you stand to benefit from physical damage protection or other optional coverages. It may not be worth buying physical damage protection for bikes with a low market value.