Any motorcycle rider must have a special motorcycle insurance policy. You’ll need to make sure you purchase your coverage in advance just like you would your auto insurance policy. Contrary to some popular opinion you do need to get a separate policy for your motorcycle. You’ll need to have this type of insurance for any vehicle of either 2 or 3 wheeled variety that is classified as legally rated for on road use, both highways and main roads.

Please keep in mind that this categorization will also include a moped or a motorized scooter.

Coverage Specifics

An insurance policy will provide coverage for both the person holding the policy but anyone using the vehicle. Insurance policies will cover things, in event of an accident like:

• Medical coverage
• Property damage
• Death benefits

Liability Coverage

Having liability coverage is what protects you in accidents or situations where you’d be found liable for said incident. It will cover both damage to the vehicle or object and any personal injury of the other party.

With liability only coverage it will not provide coverage to either you or your vehicle, you’ll need to have collision and comprehensive coverage for coverage to both you and your vehicle for personal injury, collision and other than collision claims.

Collision/Comprehensive Coverage

The collision and comprehensive coverage cover the motorcycle rider and any passenger as well as the motorcycle itself. You will be spending more for this type of insurance; however, should you be in an accident that is your fault it can be invaluable; especially if there is a rider on your motorcycle that should be seriously injured or at the worst dead.

You’ll also not have to pay out of pocket for any damage to your motorcycle, just the deductible that you choose when you initially purchase your policy. There are deductibles for both collision and comprehensive. The deductible is the amount of money that you pay out of pocket before your insurance will cover the rest of the loss up to your policy limits.

Payment Options

Unlike the normal auto insurance that you purchase you have more payment options than you do for motorcycle insurance.

The 3 options for paying for your motorcycle insurance policy are:

1. Paid in full (advanced payment)
2. Twelve equal payments
3. Six equal payments that are spread out over the year

The options are not available everywhere as the options will be dependent on the area you live in and the risk assessment.

Paying the entire policy premium in advance for the entire year is something that you can do for any and all types and forms of insurance. The option to pay in twelve equal payments is only available for places where you can ride your motorcycle year round. This is the closest and most common policy and payment option and the policy runs close to that of a standard auto policy.

The last option is that of the six equal payments. The only time this is an option is for the colder climates where you are only able to use your motorcycle for a portion of the year which makes the six equal payments option the most commonly preferred.

The risk for the insurance company is at the highest when the rider can actually use the bike which necessitates the payment during those periods. You must keep your insurance policy in affect and payments up to date as mentioned above you do need to keep and carry the special motorcycle insurance to keep your riding license.

Obtaining Lower Rates

If you want to get a lower rate on your motorcycle insurance policy you’ll want to check into and take some motorcycle safety courses or get a motorcycle vehicle license.

Both of the things mentioned above are going to give you a specific training and an enhanced knowledge on how to safely ride and avoid a collision. You’re going to find that when renewing your policy or shopping for a policy insurance companies are going to offer reduced premiums for those that have taken these classes.

By taking these classes you’ll do two of the most important things:

1. Decrease potential from harm by learning to protect yourself
2. Save money

The lower the risk the lower your premium and if you take these safety classes you’ll be assessed as a lower risk.