Does umbrella coverage include bikes?
Your business umbrella policy may provide excess coverage for your vehicles too. Check your existing policy before considering other excess coverage types.
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Commercial providers offer customized coverage for motorcycle fleets, including police and transportation departments, rental bike companies and other businesses. Taking extra safety steps like training courses and risk assessments can improve safety and help you save money on your fleet budget.
A fleet policy offers blanket liability coverage for your business vehicles, as well as additional add-ons you choose. Because all businesses have different needs, providers work with you to customize your coverage.
You won’t see motorcycle fleet insurance advertised during your insurance search. However, many providers cover a variety of vehicles under their commercial fleet policies, including motorcycles, mopeds and scooters.
In addition, motorcycle rental businesses will need either customized coverage plans for their business and customers or a commercial package that includes coverage for both. In this case, you might start your search with specialty rental business insurance providers.
You’ll find many of the same standard coverage types as with other vehicles, but consider getting higher limits for physical damage and liability to better fit your business needs. Coverage you may need:
Your business umbrella policy may provide excess coverage for your vehicles too. Check your existing policy before considering other excess coverage types.
In addition to these coverage offerings, motorcycle rental businesses can use a provider that offers insurance packages to their rental customers. Coverage offered to customers may include:
The cost depends on your type of business, the number of motorcycles insured and your state. However, the average motorcycle premium for individuals is $518 per year, but you can expect your premium per motorcycle to dip lower than this amount. The more motorcycles you have, the cheaper your premium may be.
For example, motorcycle rental companies might spend $70 per bike per year while offering insurance packages to customers starting at $15 per day. The cost may be lower because the company’s high number of bikes and because customers shoulder some of the coverage responsibility.
Compare motorcycle insurance near you.
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Insuring an entire motorcycle fleet can seem daunting until you work with a representative on your specific needs. Follow these steps to cover your troop of bikes:
Insuring multiple bikes and riders has challenges. Easy mistakes or downfalls to watch out for:
Insuring a motorcycle fleet might require a little digging to find providers for your troop or rental bike business. However, you may find what you’re looking for with general fleet or rental insurance providers.
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