Now that the weather’s warming up, it’s time to take your bike for a ride! Before you and your passenger jump on, though, when was the last time you checked your motorcycle insurance? Depending on what kind you have, certain types of accidents and even passengers may not be covered! Let’s make sure your policy has everything you need here at Freedom Insurance Agency.
Motorcycle Insurance Minimums
Much like auto insurance in Maryland, there are state-imposed requirements for motorcycle insurance. At a bare minimum, you have to have liability insurance to cover other people’s damages and/or injuries in the event of an accident. How much coverage will vary from state to state, but in Maryland that number starts at $30,000 for individual bodily injury protection. If you have 2 or more people riding, then you can automatically double that minimum to $60,000. Don’t forget about the $15,000 requirement for property insurance, too.
Most insurance companies that operate in Maryland will be aware of these requirements and bundle them into one basic policy that meets your legal needs. Keep in mind, we may recommend options well beyond this. Especially if you have a more expensive motorcycle and/or frequent passengers.
Personal Injury Protection (PIP)
Since this provision isn’t required by law, many motorcyclists choose to forego this option in hopes of saving money. Still, your personal injury protection, or PIP, could make a drastic difference in the event of an accident. Basically, this type of coverage kicks in for no-fault situations. So, if you’re the only person affected by the accident, your insurer would help with associated medical costs and even your lost income. With the cost of healthcare creeping higher and higher, paying more for this provision could save you tens of thousands of dollars in the long run.
Comprehensive & Collision Coverage
Let’s not forget about your bike! If your accident involves another bike, car, etc. then their insurance should cover the damages to your motorcycle—provided it was their fault. Still, if it’s your fault or an animal collision, you’d need to tap into the comprehensive or collision parts of your policy. These can even help if your bike has been stolen or vandalized! For expensive, custom motorcycles, we often recommend including these extra levels of coverage.
More or Less
At the end of the day, motorcycle insurance doesn’t have to be expensive. Although this type of driving is naturally riskier—and therefore costlier—it’s usually cheaper than auto insurance. That’s because most drivers don’t rely on their motorcycles for daily transportation. They’re often considered a recreational vehicle that’s off the road more often than not. So, the higher risk and decreased use tend to counteract one another.To get a personalized quote on motorcycle insurance and learn more about protecting your bike, contact Freedom Insurance Agency! Located in the heart of Carroll County, we’re experts on Maryland insurance requirements and more. Let us customize a policy for you, so you can enjoy the freedom motorcycling brings—without the worry.