Under the law, motorcyclists need to have the same level of liability insurance as car drivers. This includes $50,000 for bodily injury and $15,000 for property damage liability. These mandatory requirements are meant to make sure that everyone who is responsible for causing an accident can pay compensation to other parties. Keep in mind that the minimum liability requirements may not be enough to financially protect the typical rider.
Different Coverages for Motorcycle Coverage in Colorado
Motorcycle insurance is like car insurance. An agent at Schiller Insurance can help you determine the right coverage options for you.
Liability Coverage: This is the only coverage that is required, and it’s designed to pay for any third-party property damage or injuries if you are responsible.
Collision Coverage: This type of coverage helps with damage to your motorcycle caused by an accident, regardless of who was at fault for the accident. You can purchase replacement value coverage or actual value. Replacement value coverage can be more useful if you need to replace your motorcycle in the event of a total loss.
Comprehensive Coverage: This coverage is like collision coverage but protects you against non-accident related events, such as weather or vandalism. It can also cover you if your bike is stolen.
Personal Injury Protection: This coverage is for medical treatment for both you and your passenger if you are injured due to a motorcycle accident.
Accessories Coverage: If you have added accessories on your bike, you want this coverage to help increase the bike’s accessed value if your bike is considered a total loss, either due to a non-collision event or accident.
Uninsured Motorist Coverage: If a driver without insurance hits you then this can cover your damages and medical treatment without you having to sue. The insurance company takes on the burden of getting the money back from the uninsured driver.
Roadside Assistance: If your motorcycle breaks down while on the road then you don’t need to worry about the cost of mechanical assistance or towing.
Contact Schiller Insurance to get a quote on motorcycle insurance.