Without a doubt, driving or riding a motorcycle comes with risks, and these risks can be hard to handle if you do not have the right protection. The only thing that can give you the protection you need is an insurance policy. One of the highest standard level of coverage you can get for your motorcycle is comprehensive motorcycle insurance.
When shopping for a motorcycle insurance quote, it is important that you find out if the insurance company offers comprehensive coverage. This will make it easy to access more coverage options and terms at a budget-friendly price.
What is Comprehensive Motorcycle Insurance?
Comprehensive motorcycle insurance, also known as full coverage motorcycle insurance is a type of insurance coverage that provides financial protection for your motorcycle against a wide range of risks, beyond just accidents with other vehicles. This coverage typically includes protection against theft, vandalism, fire, weather-related damage, and other non-collision incidents.
How Does It Work?
Comprehensive insurance is often optional, unlike liability insurance, which is typically required by law in most places. However, comprehensive coverage can provide valuable peace of mind by safeguarding your investment in your motorcycle against various unforeseen events.
When you purchase comprehensive motorcycle insurance, you’ll pay a premium, and in return, the insurance company will compensate you for covered losses up to the policy’s limits.
The specific coverage details and limits can vary depending on the insurance provider and the policy you choose. It’s essential to review the policy terms carefully to understand what is covered and any exclusions or limitations that may apply.
What Does Comprehensive Motorcycle Insurance Cover?
To repeat, comprehensive motorcycle insurance is part of motorcycle or motorbike insurance. This means that the coverage options will not be the same. If you are still confused, that is not a problem. Here is a better understanding of what I mean:
| Comprehensive Motorcycle Insurance Coverage | Standard Motorcycle Insurance Policy Coverage |
| Vandalism | Medical payments |
| Collision (Depending on the insurance company) | Liability insurance |
| Theft | Collision insurance |
| Weather-related issues | Roadside assistance |
| Fire | Custom parts and equipment coverage |
| Hitting an animal | Personal injury protection |
| Falling objects | Guest passenger liability |
| Hail | OEM endorsement |
| Floods | Total loss coverage |
| Uninsured/Underinsured motorist coverage | |
| Comprehensive insurance | |
| Total loss coverage |
As the table shows, comprehensive motorcycle insurance is part of standard motorcycle insurance. But we will be learning more about what comprehensive coverage is all about.
What It Doesn’t Cover
Here are the events you will not be getting coverage for, even if you have a comprehensive coverage quote:
- An uninsured person riding your bike.
- Theft caused by carelessness.
- General wear and tear.
- Damage and injuries caused under the influence of drugs or alcohol.
- Driving with an invalid driver’s license.
How Much Does Comprehensive Motorcycle Insurance Cost?
When it comes to the cost or price of receiving coverage, it is advisable to get comprehensive motorcycle insurance instead of a third-party policy. Besides, this type of policy offers more coverage and is budget-friendly. Nonetheless, there are different factors that affect the cost of getting comprehensive motorcycle insurance.
They include:
- Your age.
- The type of bike you want to insure.
- The safety procedures you follow.
- Claim bonus.
- Riding history.
- If you make payments for your insurance monthly or yearly.
- Excess fee total.
Lastly, how you store your motorcycle when it is not on the road or in use (parking space).
How to Get Comprehensive Motorcycle Insurance
Although there are various factors to consider when shopping for comprehensive motorcycle insurance, it is important that you figure out how to get it. Since the terms and rates of lenders differ, you should be able to compare and choose the best quote that offers the most comprehensive coverage for your motorcycle. So, if you are interested in getting a quote, here is what you need to do:
- Find out how much coverage you need.
- Search online for insurance companies that offer comprehensive coverage.
- Read these insurance companies’ reviews.
- Find out if you meet the requirements.
- Apply to get a quote.
During the application process, you will need to provide some personal information and information about your motorcycle as well.
FAQs
Do I need Comprehensive Motorcycle Insurance?
While comprehensive coverage is optional in many places, it can provide valuable protection for your motorcycle, especially if it’s new or valuable. It offers peace of mind knowing that your bike is covered against a wide range of risks beyond accidents.
Is full coverage motorcycle insurance required by law?
Comprehensive insurance is typically optional and not required by law. However, if you have a loan or lease on your motorcycle, the lender or leasing company may require you to carry comprehensive coverage to protect their financial interest in the bike.
What is the deductible for full coverage motorcycle insurance?
The deductible is the amount you agree to pay out of pocket before your insurance coverage kicks in. Deductibles for comprehensive insurance can vary, and you’ll typically have the option to choose a higher deductible to lower your premium or a lower deductible for more coverage upfront.
Are there any exclusions with full coverage motorcycle insurance?
While comprehensive coverage protects against a wide range of risks, there may be exclusions or limitations in your policy.
Common exclusions include normal wear and tear, mechanical failures, and intentional damage. It’s essential to review your policy carefully to understand any exclusions that may apply.
How do I file a claim for comprehensive motorcycle insurance?
If your motorcycle is damaged or stolen, you’ll need to contact your insurance provider as soon as possible to initiate the claims process.
They will guide you through the necessary steps, which may include providing documentation, such as a police report for theft claims, and arranging for an inspection of the damage.
Can I add additional coverage to my comprehensive motorcycle insurance?
Yes, many insurance providers offer optional add-ons or endorsements that you can include with your comprehensive coverage for additional protection.
These may include accessories coverage, roadside assistance, rental reimbursement, and more. Be sure to ask your insurer about available options to tailor your coverage to your needs.
