Toys Policies

Motorcycle and ATV Insurance

Many states require that all motorcycle and ATV owners have insurance. It’s a smart idea because motorcycles and ATVs have a high rate of accidents. Keep reading to learn more about bike insurance and how it works.

About Motorcycle and ATV Insurance

Motorcycle, ATV or bike insurance is like auto insurance, except it’s for a motorcycle or an ATV. It provides financial protection for the rider and the motorcycle or ATV in the case of an accident or other mishap.

Who Needs It

This insurance is for anyone who owns and drives a motorcycle or ATV. Most states require motorcycle owners to have at least a minimum of state-required liability insurance. For example, a person might need at least $5,000 of liability insurance to legally drive their motorcycle.

The Details

In exchange for this insurance, the policyholder pays a monthly, bi-annual or annual premium. The premium is based on driving record, type of bike or ATV, age and other things. Policies also have a deductible, which the policyholder pays before the insurance company does their part.

Types of Coverage

• Liability for Injury and Property Damage – When you are at fault, liability covers the cost if you are sued by someone who was injured or had their property damaged.
• Collision – Covers damages to your bike when you hit something.
• Comprehensive – Covers damages not related to a collision, like wind or storm damage.
• Uninsured or Underinsured Motorists – Pays for damages or injuries you suffer when the person at fault does not have any or enough insurance.
• Medical Payments – Pays your medical expenses following an accident.

Some policies offer special coverage for custom parts and equipment. Roadside assistance or towing and rentals may be covered as well, depending on the policy.

Benefits

Motorcycle and ATV insurance is a benefit because of the protections it provides. Not having coverage during an accident can be devastating financially.