Question #1: How much insurance do I have to have?

Answer: While regulations vary from state to state, liability coverage is usually the mandatory minimum required, liability (or bodily injury) meaning you can pay for the damages you cause if you hit something or someone. How much liability coverage is a matter of choice. The minimum might get you official clearance, but when the lawyers get to work, if you’re at fault, the minimum can be way too minimal. Various levels of insurance premiums afford you higher level of coverage. Pay more, get more protection, a simple cause and effect equation. To check on your state’s insurance requirements, log onto your local Department of Insurance.

Generally, you must have minimum liability coverage of $15,000 for one person, $30,000 for all injured parties in case of an accident, $5,000 for property damage (car, motorcycle, house, etc.) Most companies, and logic, recommends expanding that coverage to $100,000/$300,000. While your bike is smaller than a car and would seemingly cause less damage, think pedestrian or your passenger and the coverage makes sense. Some companies, for example All-State, offer special “Passenger Protection” options.

Question #2: How Do They Figure Out How Much I Have to Pay for Bike Insurance?

Motorcycle insurance premiums vary from company to company and are computed as a function of the bike’s displacement, type (e.g. sport, cruiser, dirt), rider’s age and driving record, location (higher in urban areas) and whether garaged or not.

Question #3: What is “Collision” coverage and how much do I need?

Answer: Collision as in collide. It covers damage caused to the owner’s motorcycle from a collision caused by another vehicle. Collision coverage pays to fix your bike, minus your deductible, a deductible being out of pocket money depending on your choice of amounts, the higher the deductible, the lower your premium. If someone hits you, their insurance would pay for your repairs...if they have insurance. Best to cover yourself with collision coverage and ante up a deductible you can afford. Lots of bad drivers out there with bad or nonexistent insurance. Been there, done that.

Question #4: What about motorcycle medical coverage?

While car insurance comes with automatic medical coverage, none such standards exist with bike insurance, that is the bike insurers don’t offer automatic medical bill coverage, but some offer optional coverage as in an added premium. Your personal health insurance has to cover you if you are injured while riding your bike or that of a family member living with you. However if you happen to have borrowed a friend’s bike but also own a car and crash hurting yourself, your car insurance pays up thanks to an” extended medical benefits” provision. Check to see if you have it, as coverage varies from state to state. For example, California Medical Payments Coverage covers the cost of necessary medical care provided to you as a result of a motorcycle accident and applies no matter who is at fault although the coverage is often limited to medical care you get in the first one, two, or three years after the accident and is limited to a specific dollar amount.

Question #5: What is Uninsured Motorist coverage and do I need it?

If you’re unlucky enough to get smacked by someone, you’ll wish you had it. Covers the insured for your bodily injury caused by a hit-and-run driver or an at-fault driver who has no auto or motorcycle liability insurance. Check out the provision for Uninsured and Underinsured coverage, UM and UIM respectively. A good rule of thumb is to pay for the same UM/UIM limits as your liability coverage. Your agent will always ask you whether you want the coverage or not as it’s not mandatory.

Question #6: What if someone rips off my bike? Do I get a new one?

Answer: You can be compensated for a stolen motorcycle if you have "Comprehensive Coverage” which takes care of fire, theft, falling objects, earthquake, missiles, explosion, riot, civil unrest and vandalism. The list itself makes you want to stay in the garage, but that’s the actual stated risk coverage. Missiles probably means flying objects like golf balls rather than ICBMs. At least we hope so. That compensation is based on the current book value of the particular bike if stolen and amount of repairs if damaged. Again, factor in your deductible…$50-1000. Here’s a caveat. Most likely you won’t be covered for those aftermarket billet mirrors or hand tooled custom leather seat, so check. Some companies do over specific additional coverage for accessories and custom parts. If you carry comprehensive or collision coverage with Geico, you are eligible for $500 coverage for optional accessories. (Note that Geico is available in all states except Delaware, Massachusetts, Michigan, and New Hampshire.) Bottom line for your add-ons, remember to keep accurate records and proof of the cost of the items. Backing up your insurance with photos is also a smart move.

Another insurance factor to check is whether bike towing and car rental is part of the package.

Question #7: If I buy a bike by financing it, how much insurance do I have to have?

Answer: Usually Full Coverage. The finance company wants to cover all the bases in case something happens to the bike as in accident or theft. Full coverage can be a tidy chunk based on the bike (less for a scooter, more for a liter superbike), your age, driving record, if the bike is garaged or not and geographical location, more in L.A., less in Tumbleweed, AZ.

Question #8: Any nifty ways to cut my insurance costs?

Answer: Be over 30, have a perfect driving record, and take the Motorcycle Safety Foundation safety course. You have no control over your age, and hopefully a bit more over your DMV record, but the MSF course is available for anyone and usually gets you an insurance discount. As far as alarms and theft recovery systems, for example, Lojack, that kind of added theft insurance can get you a discount. Many companies offer a number of other discounts including membership in certain bike organizations, senior citizens, multiple vehicles, etc. Check with your local insurance rep.

Question #9: You have a custom mega-buck bike. You’re worried some yahoo in their sky blocking Nauseator might back over it in a parking lot and leave no witnesses. Can you get physical damage insurance coverage? And can you find someone to insure that way cool 1945 Zundapp you just had to drag home?

Answer: First check with your other vehicle insurer, be it car, boat, truck, blimp. They might want to help you out since you’re already a customer. But some riders have reported three times the rate for a custom over a stock OEM bike. At last check of the Internet, we hear that neither Progressive nor Geico cover custom bikes. Farmer’s in CA apparently does insure custom bikes as does Markel Insurance Company in Pewaukee, WI (262-548-9880). Note that Markel requires front and rear turn signals and allows for a maximum rake of 38 degrees. If you’re on the East Coast, another reported good source is Berglund Insurance (www.berglundins.com or 800-537-2555). Note they don’t insure for AK, HI or NJ. Two companies that will insure custom bikes for liability are Allstate and Foremost. Word is many companies will only insure custom bikes for actual cash value subject to limit on the policy. Stuff like superchargers and turbochargers can raise insurance coverage walls. As for antique bike fans insurance costs and coverage vary from company to company. Age, make and model are factors. Sometimes an official appraisal is require (often for custom bikes as well). An appraisal is an iffy affair in itself and insurers have their Catch 22’s so you must inquire about specifics when looking to insure custom and/or antique bikes. Remember, most antique bike insurers allow only a certain amount of annual miles, frequently 2500, and the bike can only be ridden to events and not as transportation.

Question #10: Should I report even small fender benders to my insurance company? And when do I call an attorney?

Insurance companies say report any accident immediately. They even give you little cards to carry to fill out with pertinent information. Remember you might not report it, but the other person might, despite what you agree upon at the scene. If there is physical damage or injury, many states require the filing of an additional form, often sent to you by your insurance company. As far as calling an attorney, that’s your call. In the event of sustaining physical injury, often too likely in a bike mishap, an attorney is basically mandatory, whichever side of the mishap you were on fault-wise. Check the Yellow Pages for motorcycle specific lawyers. There’s a bunch.