There is a camaraderie among motorcycle riders like no other; whether it is a tip of the head to a fellow rider or even membership in a local motorcycle association, for many, life on two wheels is far better than four. One thing all riders need before hitting the road is a reliable motorcycle insurance policy. At Great Lakes Insurance, we believe quality coverage can come at affordable prices. We know a thing or two about riding and the hazards that come with it – especially in the greater Cloquet & Duluth area. That is why we help riders like you find competitive rates on policies that offer a broad range of protections tailored to motorcycle-related risks.
All Riders Need Coverage
Like other Minnesota motorists, motorcycle owners are required to have insurance. It may be tempting to drop coverage during the winter months when you are not riding, but any savings will be short-lived. Not only will you likely pay much more in premiums due to a lack of continuous coverage, but you could also face a total loss of your bike if it is damaged in a fire or if a tree falls through your garage.
Minnesota requires all riders to have a minimum amount of coverage, and many lenders require riders to purchase physical damages coverage when they finance the purchase of a motorcycle. However, we typically recommend tailoring your policies to fit your needs – not just the demands of others. Often, riders need much more than the minimum coverage requirements to protect against loss adequately.
So How Much Insurance Do You Need?
There are different coverage limits for the various sections of your insurance policy. Choosing how much coverage to purchase should not be a decision you take lightly. Instead, work closely with your independent agent to calculate your needs based on your risks, how often you ride, the type of motorcycle you have, and how much you could stand to lose in a lawsuit.
Types of Motorcycle Coverage
Your motorcycle insurance may contain multiple coverage types. Examples include:
Property Damage and Bodily Injury Liability
If you are deemed responsible for an accident, victims can pursue you for compensation of damages. Imagine having to pay the medical bills and vehicle repair expenses for a driver who swerved off the road and hit a tree to avoid missing you when you lost control of your bike. Sure, you are thankful to be alive, but without the right liability coverage, you could be out-of-pocket tens of thousands of dollars or more. To avoid litigation-related expenses, and the cost of victim medical bills and other losses, talk to your agent about coverage options that could better protect you against accident-related claims.
Collision and Comprehensive
You might be able to buy a new bike for $10,000, but who has that kind of cash sitting around? With collision and comprehensive insurance, you can insure your motorcycle’s value and obtain compensation for covered damages and loss. Collision coverage helps pay for damages caused by rollovers and run-ins with other vehicles or objects. Comprehensive coverage helps pay for non-collision damages caused by forces outside your control, from run-ins with wildlife to hail, wind, and fire. It can even help compensate you if your bike is stolen.
Few bikes on the road are the same as they were when they came off the showroom floor. Chances are you have made improvements and added your own touches to your ride, whether it is new chrome or special navigational equipment. Make sure your motorcycle insurance policy covers these after-market parts against damage and loss.
Uninsured/Underinsured Motorist (UM/UIM)
As a motorcycle rider, you have to be especially cautious of other drivers. Many act irresponsibly by not purchasing liability insurance as required by law. Others have too little coverage to provide adequate compensation for damages after an accident. Either way, if an uninsured or underinsured driver injures you, you could face out-of-pocket costs for some or all of the damages while you attempt to obtain compensation through legal means. Instead, rely on your uninsured motorist and underinsured motorist coverages to help fill in gaps left by other drivers.
Personal Injury Protection (PIP)
Unlike traditional motorists in Minnesota, motorcycle riders are not required to purchase personal injury protection by law, However, many riders still opt to add this coverage to their policies, as it can help provide no-fault coverage when you are injured in a motorcycle-related accident. This can include compensation for medical bills, as well as coverage for lost wages. It does not matter who caused the accident; with PIP, your injuries are covered up to the limits of your policy.
Towing and Assistance
Motorcycles are easy to maintain, but breakdowns happen from time to time. Whether you run out of gas on a long road trip or need help getting your bike to the closest shop, talk to your agent about how towing and assistance coverage can help reduce your costs.
Many riders have an alternative means of transportation – usually a car. If not, you might need to find temporary transportation when your bike is being repaired. Talk to your agent if you want to include coverage for a rental car under your insurance policy.
Requesting a Minnesota Motorcycle Insurance Quote
At Great Lakes Insurance, we can help you insure nearly any type of bike you may own, from sport bikes and Harleys to scooters and trikes. We make it easy to save money on the coverage you need by shopping and comparing rates from leading Minnesota carriers. We can provide a local face to your policy, answer your questions, provide ongoing support, and even introduce you to money-saving tips, such as:
- Raising your motorcycle insurance deductible
- Taking a motorcycle safety course
- Purchasing additional lines of coverage from the same carrier
- Qualifying for a rider’s association discount
- And more