Essential Motorcycle Insurance Coverage Every CNY Biker Should Have

You’ve decided to join the CNY motorcycle community. You’re actively doing research and are eager to experience the joy of riding on the open road. But first, you have to secure motorcycle insurance.

You’re probably wondering if any special coverages or protections exist that you should have as a motorcycle owner. That’s why you’re here reading this article.

You know that motorcycle insurance is not only mandatory by law but also vital for your safety and protection. But as a new rider, you may not be familiar with the different types of coverage that are available and how they can benefit you in case of an accident or theft.

Have no fear. We’re here to guide you through this murky area of the insurance world. We care about our motorcycle friends in CNY, and we want to make sure you have the right insurance for your needs.

We’ve helped many bike owners find the best coverage for their bikes and their budgets. In this article, we’ll explain the most important motorcycle insurance coverages you should know about. We’ll also show you how to ask for them when you get a motorcycle quote.

After you’ve absorbed all the info in this article, you’ll be ready to ride with confidence and peace of mind.

Stay Protected with the Right Motorcycle Coverage

There’s nothing like the thrill of riding a motorcycle. It’s a passion that lasts a lifetime for many people. But riding a motorcycle also comes with some risks.

You and your bike are more exposed and vulnerable on the road than other vehicles. That’s why you need more than just a basic insurance policy for your motorcycle. You need a policy that covers the specific needs and challenges of being a biker.

But which coverages are designed to meet those unique needs and challenges?

Essential Coverage 1: Max Out the Medical Payments

Motorcycle accidents can cause serious injuries to bikers, even if they are minor. That’s why you need to have enough medical expense coverage to help cover your medical bills. New York is a No-Fault State, which means that your car insurance policy will pay for your injuries if you get into a car accident, no matter who was at fault.

This coverage is included in all New York auto policies. But this No-Fault protection does not apply to motorcycle insurance. If you get injured on your bike, you’re unprotected. Unless you add a coverage called Medical Payments to your policy.

Medical Payments coverage will pay for your medical expenses if you get hurt while riding your bike. Not all carriers offer this coverage, so you should only choose a carrier that does and look to take as much as they’ll offer you. To find out more, check out our review of the Top 3 Motorcycle Insurers in New York.

This valuable coverage will cost you extra, usually a 25 percent bump in your premium. But when you think about the potential injuries and hefty medical costs from a bike accident, Medical Payments coverage is more than worth it!

Essential Coverage 2: Supplementary Uninsured/Underinsured Motorist Coverage (SUM)

Another way to protect yourself as a rider is to get as much SUM as possible. SUM stands for Supplementary Uninsured/Underinsured Motorist coverage. It protects you if you get permanently injured by another driver who has no insurance or not enough insurance to cover your damages.

SUM lets you claim against your own insurance, which is very valuable for a motorcyclist. This coverage is also available on auto policies, but bikers need it more. The cost to add this coverage is very low.

However, you can only add an amount that matches or is lower than your own liability coverage. So, if you want to increase SUM limits, you’ll have to pay for more bodily injury coverage as well.

But don’t worry. We can help you with that! As we said earlier, we’re here to guide you through the murky world of insurance.

Essential Coverage 3: Agreed Value Protection for Your Bike

So far, we’ve focused on your safety and protection. Now let’s talk about your precious bike.

You should always consider adding physical damage protection (Comprehensive and Collision) to your policy. But you should also know how the insurance carrier will value your bike if it’s a total loss.

There are two ways they can arrive at that valuation. The first is by:

Actual Cash Value

Actual Cash Value (ACV) is the amount of money an insurance company would pay to replace a damaged or stolen motorcycle minus depreciation.

Depreciation is the decrease in the value of an asset over time due to wear and tear, age, or market conditions.

When you purchase a motorcycle insurance policy with ACV coverage, the insurance company will pay you the ACV of your motorcycle if it is damaged or stolen. This means that you will not be reimbursed for the full purchase price of your motorcycle, but you will be compensated for its current market value.

While ACV can save you money on your motorcycle insurance premiums, keep in mind that you may not be fully compensated for a damaged or stolen motorcycle through this policy option.

The second way the carrier can arrive at a valuation for your bike is by:

Agreed Value

When possible, choose Agreed Value, and here is why. Agreed Value means that you and the insurance carrier agree on the value of your bike when you insure it. And that’s the value you’ll get if your bike is totaled.

It doesn’t matter if your bike is damaged 8 years later or if its book value has dropped 40 percent since then. As stated above, Actual Cash Value coverage will factor in that depreciation and give you a much lower payout than you’d expect. Not so with Agreed Value.

And Agreed Value coverage is not very expensive. But unlike you, many shoppers are not as smart and would not know to ask for it!

How to Shop for the Best Motorcycle Insurance

The best way to shop for motorcycle insurance is to compare quotes from different carriers and look at the coverages carefully, meaning line by line. Don’t just focus on the final price. You might miss some important details or differences.

When shopping for motorcycle insurance, be sure to:

• Ask other motorcycle riders about their experiences with different carriers. You can also check online reviews and ratings.
• Look at the financial strength and customer service of each carrier. You want a carrier that can pay claims and handle them quickly and fairly.
• Consider the type of bike you have and how it affects your rate.
• Ask about discounts and ways to lower your rate. You may qualify for savings if you bundle your policies or take a safety course.

As an agency with multiple motorcycle insurance carriers, we can make this process easier for you. We know that you’d rather be riding than dealing with the insurance part of motorcycle ownership. Insurance is definitely not an exciting aspect, but after an accident, it’ll end up being the most important one.

Don’t Settle for Inferior Coverage That Leaves You Unprotected

Whether you’re cruising to the Catskill Preserve or to Wegmans, you deserve to enjoy your ride without worrying about your insurance coverage. Don’t let a cheap policy leave you in financial hardship after an accident. Don’t waste time and energy on frustrating phone calls and disputes with your insurer.

You need a motorcycle insurance policy that protects you and your bike from any mishap on the road. That’s why we’re here to help you find the best coverage for your needs and budget. Let’s work together to create a customized plan that gives you peace of mind and confidence.

Ready to get started? Click the Get a Quote button below and fill out a simple form. You’re moments away from beginning the journey to personalized protection.

Or, if you want to learn more about what impacts motorcycle policy costs, check out our article “4 Factors That Affect the Cost of Motorcycle Insurance.”