Although having Motorcycle insurance isn’t required in Florida, it is better to have it and not need it, than to not have it and need it. There are several options available for motorcycle coverage:
Standard Motorcycle Insurance Coverages
- Bodily Injury & Property Damage Liability – Bodily Injury Liability Coverage applies to injuries that you or an approved driver cause to someone else while driving a covered vehicle. Property Damage Liability covers the cost of repairs the other vehicle involved in the crash. It also protects against damage to other types of property such as telephone poles or lamp posts, homes or buildings, mailboxes, fences, or other structures. The State of Florida requires all drivers to have at least $10,000 coverage in Property Damage Liability, but additional coverage can be purchased.
- Uninsured/Underinsured Motorist – Florida is one of the worst states when it comes to uninsured motorists, and if you are ever hit by one, you could end up paying for the damages to your vehicle if you don’t have this coverage. Even if the other driver does have insurance, if they don’t have enough, you can still be out a large portion of repair costs. With this coverage, you won’t have to sweat the repair bill. The costs of your injuries or lost wages are also taken care of under this policy.
- Comprehensive & Collision – If you are in an accident, Collision coverage will help cover the cost of the repairs (or replacement) – all you have to pay is the deductible you have selected. On the other hand, Comprehensive covers damages from a collision with an animal or other damage not from a collision (e.g. fire, theft, falling object, etc.)
- Medical Payments – Covers the cost of your medical bills (or your passengers’) if you are involved in a crash, regardless of who is at fault. This is similar to Personal Injury Protection coverage for vehicle motorist.
Extra Coverages You Can Add
- Accessories and Custom Parts/Equipment – It is common for motorcyclist to customize their bikes with after-market parts. This type of coverage is offered by some carriers as part of the Collision and Comprehensive coverage, but additional coverage levels can be purchased if you need a higher coverage limit. Coverage includes upgrades, customizations, equipment, and accessories such as helmets, gloves, and leathers.
- Small Accident Forgiveness – Many motorcycle insurance carriers won’t increase your premium because of a claim that costs $500 or less.
- Large Accident Forgiveness – Many motorcycle insurance carriers won’t increase your premium after your first accident – although some may have individual requirements before providing this coverage.
- Total Loss Coverage for a Brand New Bike – This coverage is great if you purchased your bike new. In the event that your bike is deemed “totaled”, you are paid the full MSRP (Manufacturer’s Suggested Retail Price), minus your chosen deductible.
- Roadside Assistance – Under this coverage, towing expenses are nothing to worry about. In the event you get stuck or your bike is disabled, your bike can be towed to the nearest repair shop for free. Some carriers may allow additional add-on’s such as Trip Interruption which helps you pay for food and lodging expenses up to $500 if you’re away from home when the breakdown occurs. Typically, you must have Roadside Assistance first and then add Trip Interruption, if it is available from the carrier of your choice.
- Carried Contents and Personal Belongings – Sometimes you have more than just your helmet and riding gear when on your bike. Carried Contents coverage protects just about all of your personal belongings from damage, theft, or from being lost.
- Enhanced Injury Protection – This is additional coverage to Medical Payments coverage. Under Enhanced Injury Protection, if you are injured and can’t work, a financial benefit is paid for an allotted period of time.