Colorado roads are great for motorcycle adventures, but are you insured enough?
Once you've experienced a mountain road trip on a motorcycle, you'll never look at Colorado's natural wonders the same way again. There's something about having the wind in your face, a long stretch of road ahead of you, the sputter of the engine, and the arms of a significant other wrapped around your leather-clad waist as you go wherever the asphalt leads. If there's one thing riders can agree on, it's that a motorcycle awakens the senses in a way that no other automotive can. Another thing all motorcycle riders can collectively nod their heads on is the importance of having good motorcycle insurance.
Don't Do Motorcycle Insurance on the Cheap
It's tempting to want to opt for cheap, minimum liability coverage, but this doesn't do you any favors in the long run. In fact, liability coverage doesn't cover your injuries or any damage to your bike. Because of this, additional coverage is necessary in the form of collision, uninsured/underinsured motorist coverage, and comprehensive insurance. The last thing you need after a motorcycle accident is to have to pay thousands of dollars for a mistake caused by a negligent driver. Also, because many motorcycle riders often have a sweetheart riding along with them, it's important to err on the side of caution to see if your insurance coverage applies to them. Currently, the minimum amounts for motorcycle insurance in Colorado include:
- $25,000 bodily injury per person
- $50,000 bodily injury per accident
- $15,000 property damage per accident
Insurance for Customized Motorcycles
Just like cars, many motorcycle enthusiasts love to make their bike unique to them. The problem is, many riders don't take the new additions into account when it comes to insuring the bike. Custom parts and equipment insurance will help pay to fix or replace aftermarket add-ons to your motorcycle if they are damaged or totaled in a covered loss based on the depreciated value of the parts. It's important to remember that this coverage has a limit and any repairs or replacements that exceed that amount will need to be paid for out of pocket. Usually, custom parts and equipment insurance does not have a deductible, but you will need to pay the deductible on your collision comprehensive insurance as part of your claim.
Motorcycle Insurance Discounts
Motorcyclists are entitled to insurance discounts too! Being proactive and getting more rider education within 36 months of getting a new policy can help lower your premium. Riders who get a motorcycle endorsement on their license also benefit from a lower insurance rate. You can also get a discount on motorcycle insurance by insuring more than one bike or by getting your policy from the same provider that insures your home or car.
Motorcycle Insurance Matters – Even in Winter
It's tempting to cancel coverage during the colder months when the bike is safely tucked away for a long winter's nap, but you absolutely want to keep a policy alive for the sake of theft or vandalism. Ask your insurance provider about seasonal pricing over the course of 12 months—since we all know how Colorado winters can often be mild and the bike may not be in the garage for long. A year-long insurance policy is worth it, especially since it is far cheaper than automotive insurance.
With any automotive, having a substantial insurance policy will be your best friend in the event of an accident, theft, or vandalism. Motorcycle riders have the added difficulty of being more at-risk for an accident with a motorist and therefore need to have funds at the ready to cover any repairs, medical bills, or lost wages. Motorcycles are fun, but knowing that you have good insurance makes the ride even more enjoyable.