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Full coverage for your bike means you’re protected against most types of damage, including liability, comprehensive and collision. While this costs more than liability-only coverage, you’ll get more protection if an accident occurs, leaving you with fewer out-of-pocket expenses.
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Because you’re more likely to claim bike damage from a collision, you might find full coverage helpful in multiple situations:
Full coverage on a $15,000 bike could cost $200 or more per year, while a liability-only policy might cost half that price. The amount you’ll pay depends on the kind of bike you drive, your age and other factors. Full coverage policies cost more because of the higher chance your insurance company will have to pay out a claim.
By definition, full coverage means that your motorcycle is covered for the minimum state requirements plus other common physical damage. Typically, a full coverage policy includes comprehensive and collision, which are standard types of coverage that aren’t legally required.
The following is what is usually included with full coverage:
When you have full coverage, you’re protected against the most common types of accident situations or bike damage. That means that if an accident happens you can file a claim and most likely get a payout for the damage incurred, whether or not you’re at fault.
By comparison, less coverage like a liability-only policy could mean you’d pay for your own expenses when you’re at fault in the accident. The other driver’s insurance should kick in first to cover expenses if they’re the one at fault.
Jake sideswiped a car while riding his motorcycle around town one weekend. He incurred $300 in damage to the car’s side door, $600 in damage to his bike and $350 for a recurring shoulder injury after the accident.
Jake’s liability coverage took care of the car’s damage. However, unlike a liability-only policy, collision covered his own bike’s damage and PIP took care of the medical bill. Jake only paid the deductibles, which were $250 each for collision and PIP.
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Full coverage might get confusing when you realize there are items that aren’t covered by just state minimums plus comprehensive and collision. You might still need to add extra coverage you’d prefer for your motorcycle. But in general, you can only get some of these add-ons if you already have collision and comprehensive coverage.
Full bike coverage typically covers all your needs for liability and physical damage. However, it doesn’t include some items you might want protection for, such as customized parts or gap insurance. While full coverage policies can cost double compared to liability only, you can find the best rate by shopping with multiple providers.
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