What Does Motorcycle Insurance Mean?
Regardless of what you call your two- or three-wheeled vehicle – motorcycle, motorbike, moped, or scooter – you will need to get motorcycle insurance for it. Most states require that drivers get motorcycle insurance, although you may choose to get more than the minimum required amount. Similar to auto insurance policies, there is a wide range of coverage options you can choose from, starting with the most basic one of liability, which covers damages owed to any involved parties in the event of an accident.
When two or more different types of vehicles are involved in an accident, the motorcyclist is at a higher risk of sustaining personal injuries. The reason for this is fairly obvious: unlike with a car or truck, there is no protective body around motorcyclists to bear the brunt of an impact. This is one-factor motorcyclists need to take into account when purchasing insurance. In the event of an accident where you are entirely or partially at fault, your insurance policy will cover the damages owed to the victim. Without insurance, you will have to bear these costs out of pocket.
To date, Florida is the only state that does not require motorcyclists to be insured. However, that does not absolve you from paying damages if you are responsible for an accident. It just means you have to handle those costs yourself, which is why many motorcyclists in Florida choose to get insurance regardless. You will need motorcycle insurance when you register for a learner’s permit, when purchasing a motorcycle and when registering your new vehicle.
If you are financing your motorcycle with a loan, most lenders will require you to have an insurance policy throughout the term of your loan. In addition, you will need to register your motorcycle before you can take it out on the road and provide valid proof of insurance during the registration process.
Although the process of getting motorcycle insurance does not take overly long, it can take up to a few days and weeks to process. Ensure that you have all the required documents already, such as your learner’s permit and Vehicle Registration Number (VIN) to speed up the process. If you already know what type of coverage you are going for, this will help to speed things up as well.
If you are financing your motorcycle with a loan, most lenders will require you to have an insurance policy throughout the term of your loan. In addition, you will need to register your motorcycle before you can take it out on the road and provide valid proof of insurance during the registration process.
