The inside track on motorcycle insurance

Looking for a little more info on bike coverage (or just need a quick refresher)? Then you’ve rolled into the right place—here are some commonly asked questions and answers on all things motorcycle insurance:

Q. Are minimum coverage limits for motorcycle insurance usually the same in a given state as they are for auto insurance?

A. Yes, similar to car insurance, motorcycle insurance is regulated at the state level and while they vary from state to state, minimum liability limits are generally the same for cars and motorcycles.

Q. Assuming motorcycle insurance rates are primarily based on an owner’s driving record and other individual factors, do premiums vary according to the type and price of motorcycle, just as with cars? Which types of bikes tend to be most and least expensive to insure?

A. There are many variables that go into pricing motorcycle insurance, and the type of motorcycle and driving history of the operator are two of them. Other factors include where the bike is ridden/garaged, what limits of coverage are selected and the age and experience level of the operator.

Because motorcycle insurance protects both the bike and the rider, the motorcycles that are less expensive to insure tend to be older and less valuable bikes while those that are more expensive often are newer and more expensive rides.

Q: If my motorcycle is badly damaged after hitting a pothole in the road, will my premiums increase?

A. If you file a claim due to damage from hitting a pothole, it would be paid under collision coverage. A situation like this would generally be thought of as a single vehicle accident and would be considered the fault of the rider. As such, most insurance companies would consider raising your premium as a result. However, if the company offers some form of accident forgiveness, your rates may not go up.

For example, Progressive’s Small Accident Forgiveness waives premium surcharges on claims with a payout less than $500, and our Large Accident Forgiveness waives the surcharge on any accident, regardless of payout, if you have five years of claim-free experience with Progressive. You may want to check with your current company to find out what types of accident forgiveness they offer.

Q. What aspect or coverage regarding motorcycle coverage is often overlooked?

A. When people customize their bikes, they often don’t adjust their coverage accordingly. Progressive includes $3,000 of Accessory coverage on every policy with Comprehensive or Collision coverage, but that may not be enough if you’ve done extensive work to your bike. Getting the extra Accessory coverage will ensure your custom bike has the right protection.