What insurance should you have to make sure you and your bike are protected?
Though not quite as popular as they were a few decades ago, you can still spot motorcycles out for a joy ride on Sunday mornings along the greatest Missouri roads for bikers. But for all you bikers out there, all the love and accessories you have added to your ride are meaningless if you don’t have good insurance to match. When I ride, make sure my equipment and my insurance policy are in good shape.
Even though motorcycles only account for 3% of the vehicles on the road, they are 29 times more likely than cars to be involved in a collision with another vehicle. 4,985 motorcyclists were killed in 2018 in motorcycle crashes. With these numbers, it’s important for bikers to not only know the risks and proper safety before riding a motorcycle, but they should also know about their insurance coverage!
It’s Required
Motorcycle insurance is not only smart, it’s required. 47 out of 50 states require motorcycle insurance with state-mandated minimums. In Missouri, the minimum coverage required is $25,000 in bodily injury protection per person and $50,000 per accident, as well as $10,000 in property damage coverage. Like most things, the minimums are a starting point rather than a goal.
Liability Insurance
Liability insurance covers two things: bodily injury and property damage. This means if you are found liable for bodily damage or property damage for a third party including a passenger while riding your motorcycle, the damage is covered up to the limit of your policy along with your legal defense. Because motorcyclists are out in the open instead of being in a steel “cage” like a car, injuries to riders and their passengers tend to be more severe after a crash. The minimum liability coverage will likely be inadequate to protect the friend or relative who is riding with you. More coverage is better!
Collision Coverage & Comprehensive Coverage
Liability insurance covers a driver’s liability for a third party and their vehicle, collision and comprehensive coverage covers the vehicle. Collision coverage covers the cost of repairing or replacing your motorcycle in case of an accident that is your fault. Comprehensive motorcycle insurance covers the cost to repair or replace your motorcycle in the event nearly anything other than a collision occurs. These coverages are important to have in your motorcycle insurance policy since they protect you and your vehicle.
Under and Uninsured motorist coverage
With a lot of motorcycle insurance policies, you may want to add more coverage depending on your riding habits and lifestyle. Unlike liability coverage, underinsured motorist and uninsured motorist coverage protect you and are wise places to spend extra money on premiums. Missouri requires uninsured motorist coverage in the same minimum limits as liability coverage. Given that the average emergency room visit can run in to the tens of thousands of dollars, upping your uninsured motorist coverage is a smart move to protect you from the lawbreakers on the roads. Adding underinsured motorist coverage protects you if you are in a crash with someone carrying low limits on their liability insurance.
Remember, motorcycles can be just as dangerous as they are fun. Ride safe, ride sober, and know your motorcycle insurance policy before cruising in the Ozarks this summer!
If you or a loved one is in a motorcycle accident, The S.E. Farris Law Firm may be able to help. Contact us for a free consultation. You can call us at 314-252-9937, our toll-free number 866-955-5297, or email us at courtnotices@farrislaw.org.