Is motorcycle collision coverage required?
State insurance laws do not require collision coverage. If you own your bike and are no longer making payments, you can choose if you want to carry this coverage. Most lenders require collision coverage as part of the terms of your lease or loan – if you're leasing the bike or if you are still making payments on a loan, you’ll want to check your financing agreement or speak with the lender to find out if you're required to carry collision.
How does motorcycle collision coverage work?
Motorcycle collision coverage protects you against most kinds of collision. When you're involved in a covered incident on your motorcycle, you can make a claim on your collision coverage. If the claim is approved, you'll receive a payout from the insurance company to repair the damage to your motorcycle.
Some insurers and policies write a check for the expected cost of repairs, while others reimburse you for the repairs once you have made them. If the insurance company deems your bike is a total loss, they will base they payment on the current market value of your motorcycle.
In any case, the payment will not exceed the maximum coverage limit established in the policy and will not include your insurance deductible (the amount you agreed to pay before your coverage kicks in).
What's covered by motorcycle collision coverage?
As its name suggests, motorcycle collision coverage covers the motorcycle itself in the event of a collision with another vehicle or object, regardless of who was at fault. Situations where motorcycle collision coverage can help include:
- Hitting an object (fire hydrant, road sign, tree, etc.)
- Roadbed collision (sometimes referred to as dropping your bike)
- Hit-and-run damage, including parking lots
- Collisions with other vehicles, even if they're parked
What's not covered?
Collision only covers damage from a collision, and it only protects your motorcycle. It can't be used for medical expenses and doesn't cover instances of theft. Collision coverage also generally doesn't cover motorcycles used for commercial purposes (such as delivery riders) or competitive events like races.
Is motorcycle collision coverage worth it?
Whether or not motorcycle collision coverage is a good investment depends on your tolerance for risk and your ability to pay for repairs (or a new motorcycle) out of pocket. Think about whether you'd rather pay less each month or be protected against sudden expenses.
Consider the bike's value when deciding whether to add collision coverage to your policy. The more the bike is worth, the more you can lose if something happens. Expensive motorcycles also usually cost more to fix, so be realistic about what repairs you could afford to pay for out of pocket. Even if the bike is totaled, collision can help you pay off the rest of your loan. Learn more about motorcycle insurance coverages.
How to file a claim
If your bike has sustained damage in an accident, contact your insurer immediately. Accident claims have a statute of limitations, meaning there's a deadline to file your claim if you want to receive a payout.
When you contact your insurer, they'll assign you a claims adjuster who will evaluate the claim and the likely cost of the damages. You may have to provide details about the incident or photos of the damage. If the claim is approved, you'll get a payout for the amount of the repairs minus your deductible. Learn how to file a motorcycle insurance claim with Progressive.