Your Motorcycle Insurance Agency
Tatum Insurance LLC is an independent insurance agency which provides insurance services to our clients. Our team of skilled professionals will assist you to find the right motorcycle coverage to fit your needs and lifestyle. We will educate you about the legal requirements for motorcycle insurance and what the law entails. Tatum insurance will also give you tips on how you can qualify for discounts. With us, you can save on your monthly insurance premiums while still being adequately covered.
Understanding Motorcycle Insurance
Insurance is important to road warriors seeking adventure, as well as riders looking for a way to ride around town. Motorcycle insurance protects you against financial loss arising from physical damage, and bodily injuries sustained from traffic collisions. It covers you from liability that could be caused by the actions of another motorcycle rider. Insurance may also protect you from motorcycle theft, and damages from certain things and traffic collisions. Choosing the right motorcycle policy is similar to choosing your motorcycle. You need it to fit into your lifestyle and budget.
For you to make the right decision, it is essential to understand the options available to you.
Motorcycle Insurance Coverage Types
Most states require motorcycle riders to carry a minimum amount of liability coverage. There are other types of coverage which are optional, but you should consult your insurance provider about laws that apply in your state, and clarify the options available for you.
Some common types of motorcycle insurance coverage include:
- Liability Insurance
- Medical Payments and Personal Injury Protection (PIP)
- Guest Passenger Liability Coverage
- Comprehensive Coverage
- Motorcycle Collision Insurance
- Coverage for customized motorcycle parts
Your state may require you to carry two types of liability insurance: Property damage and bodily injury liability coverage. Both coverage types protects the property of other people from damage. It also covers bodily injuries sustained by others when you are at fault. Note that property damage and bodily injury liability insurance do not protect you (the rider) or the motorcycle.
Medical Payments and Personal Injury Protection (PIP)
Medical payments coverage pays the cost of your medical bills when you (the rider) are injured in an accident. It pays medical bills up to your policy’s limit. This coverage doesn’t consider who is at fault when the accident happened. Medical payment coverage is optional, and policyholders can choose from a selection of claim limits.
Guest Passenger Liability Coverage
Guest passenger liability coverage protects any passenger who is injured on your motorbike. In many states, it is mandatory for a liability insurance policy to include guest passenger coverage. However, insurance companies that do not include guest passenger liability typically offer it as an option.
Comprehensive coverage is the highest level of motorcycle insurance a rider can purchase. It helps to pay for the cost of repair to your damaged bike, or replace it all together. This coverage reimburses a policyholder when a covered event other than collision happens to the motorcycle. For instance, if your bike is damaged by a storm, fire, vandalism, or stolen, you would be compensated if you have comprehensive insurance. Your insurer would pay for damages without your deductible, and it would cover the book value of the bike.
Motorcycle Collision Coverage
Collision coverage pays the cost of repairing your motorcycle or replacing it when it is involved in a traffic accident. Collision coverage pays up to the current cash value of your motorcycle after you have paid your deductible.
Coverage for Customized Motorcycle Parts
Most comprehensive and collision policies only offer coverage for standard parts of your ride. However, insurers in most states have coverage for custom accessories and parts.
Coverage limits are usually up to $3,000, but the amount may vary depending on the state and insurer. If the saddlebags and chrome finishes are worth more, you can purchase extra coverage up to $30,000.
Qualifying For Discounts
It is best to find out how you can qualify for a discount from at least three motorcycle insurers. Discounts are a great way to save your insurance premiums and still get adequate coverage.
There are several types of motorcycle insurance discounts including:
- Motorcycle Safety Course Discount
- Multi-Cycle Discount
- Motorcycle Association Discount
- Anti-Lock Braking System (ABS) Discount
Motorcycle Safety Course Discount
As the name suggests, you must complete an approved motorcycle safety course to qualify for this discount.
For motorcycle owners who own many motorcycles and insure them with a single carrier, they can qualify for the multi-cycle discount.
Motorcycle Association Discount
Members of registered motorcycle associations get discounts. Associations such as the United Services Automobile Association (USAA) and the Harley Owners Group members are eligible.
Anti-Lock Braking System (ABS) Discount
If your motorcycle is equipped with an ABS system, you can qualify for a discount on your motorcycle policy.