There really is nothing like being on the open road, the wind in your face and the sun overhead. Riding a motorcycle is both exhilarating and freeing at the same time. However, if you own and drive a motorcycle, it is very important for you to obtain the proper insurance. While vehicle insurance is a must for any driver in the state of Florida, motorcycle insurance is slightly different, so you must know the ins and outs of the insurance options available to you.
INSURANCE REQUIREMENTS FOR THE STATE OF FLORIDA
First, it is important to establish financial responsibility when you own a motorcycle. To do this, you can purchase liability coverage from your insurance provider. This is the most typical way to prove financial responsibility. You can also establish financial responsibility by obtaining a Financial Responsibility Certificate from the Bureau of Financial Responsibility or a Self-Insurance Certificate from the Bureau of Financial Responsibility.
There are insurance requirements you must follow through with though when you obtain motorcycle insurance. First, there is a financial responsibility law, depending on the number of individuals or vehicles involved in an accident. First, $10,000 is required for one person injured in an accident and $20,000 for two people or more injured in an accident. There is also a $10,000 limit required for potential property damage. This coverage is a minimum and is necessary to legally drive on the streets with your motorcycle.
HELMET REQUREMENTS
Motorcyclists, who are at least 21 years old and carry at least $10,000 with a medical insurance policy, do not have to wear helmets while operating their bikes. This requirement can be satisfied by purchasing medical payments coverage on their motorcycle insurance policy.
It is important to carry your insurance ID card or other proof of Financial Responsibility while on your bike.
In terms of kinds of coverage available to you as a motorcycle rider and owner, it all comes down to what you are looking for and how much of your bike you wish to insure.
BASIC MOTORCYCLE COVERAGE
- Bodily Injury – Bodily injury liability provides coverage to pay for injuries suffered by others in a crash you cause.
- Property Damage Liability – This coverage will help pay for repairs if you cause damage to other people’s property.
- Comprehensive – This coverage will pay for losses for other physical damage to your motorcycle, other than collision such as fire, theft, vandalism, severe weather, falling objects, hitting or being hit by an animal.
- Collision – Collision coverage will pay for the repairs to your bike as a result of a traffic accident.
- Medical Payments – This coverage will help cover medical-related expenses you incur from a motorcycle accident even if you are at fault. Medical payments coverage with a limit of $10,000 can be used to satisfy the no helmet law.
- Personal Injury Protection – Like medical payments, this coverage will help with medical expenses, regardless of who is at fault. The PIP coverage would provide coverage no matter who is at fault.
- Uninsured/Underinsured Motorist – This coverage will provide payment for medical costs and lost wages if you are injured by and uninsured or underinsured driver or motorcyclist.
- Roadside Assistance – The roadside assistance coverage will help you when your bike breaks down on the road. It will provide assistance with towing, flat repair, minor mechanical repair, locksmithing, fuel delivery or a dead battery.
- Accessory Coverage – This valuable coverage is also known as custom part and equipment coverage. These are items which were added to your motorcycle after it has left the factory. It can include items such as sidecars, antennas, audio devices, custom paint, exhaust systems, and safety apparel.
When it comes down to your insurance for a motorcycle on the road, it is very important for you to know what sort of coverage is available and the types of coverage required to remain a legal rider.