Motorcycle Insurance Myths

There are common misconceptions when it comes to motorcycle insurance coverage. Knowing what is and isn’t covered under your insurance policy is crucial. Our agents at Peachstate Insurance are well-versed in helping you navigate your coverage so you can get the most out of your policy.  

Common Myths 
There are several common myths about motorcycle insurance. We’ve laid them out for you to help provide clarification about your coverage:  

Myth #1: You don’t need medical payment (MedPay) coverage on your motorcycle insurance policy if you have health insurance. 

It’s not safe to assume your health insurance will fully cover your medical expenses. Deductibles and copays can add up quickly, which is why MedPay can be helpful. MedPay is available in most states and can come in second to your health insurance and help with costs excluded from your health insurance. Assess your needs with an agent before opting out of additional coverage.  

Myth #2: Your credit history has nothing to do with your insurance premium.  

The insurance industry has increasingly used insurance scoring to determine an individual’s insurance rates. This is not the same thing as a credit score. While income is not used in insurance scoring, other factors such as payment histories, revolving accounts, number of accounts and risk factors are. Not every company will use insurance scoring instead of your credit score, so it’s important to discuss how your premium is calculated.  

Myth #3: Comprehensive and collision coverages are interchangeable.  

Collision insurance protects damage to your bike due to an accident with another vehicle or object. Comprehensive coverage protects against injuries outside of a collision, such as theft, fire, weather damage, vandalism or hitting an animal. Both coverages only handle damages done to your bike not other vehicles.  

Myth #4: Your driving record has nothing to do with your motorcycle insurance.  

Potential insurers always look at your driving record. The more violations and accidents you have, the riskier you are to insure—and the higher your premiums. Being a safe driver can help you save money and help you qualify for discounts.  

Motorcycle Insurance Coverage 
With almost all states requiring coverage, it’s essential you get coverage as soon as you purchase your motorcycle. Coverage elements typically include liability, collision, comprehensive, accessories and customized parts and underinsured/uninsured motorist coverage. Discuss your needs with an agent to determine the coverage that best suits your needs. 

Motorcycle Insurance Costs 
There are several factors that can influence your motorcycle insurance costs, including:  

 Your age, your driving record and where you live. 

The type or style of bike you ride—for example, sport bike, cruiser or custom motorcycle. 

• The age of the motorcycle.
• The number of miles you ride each year.
• Where you store your bike. 

• Training course discounts
• Multi-bike discounts
• Organization member discounts
• Mature rider discounts
• Layup policy savings