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Understanding Motorcycle Insurance

man on motorcycle understanding motorcycle insurance

Understanding motorcycle insurance in MN.

Understanding motorcycle insurance in Minnesota is important and as a result, it could save your life and wallet.

I saw a couple of bikes out last weekend therefore, here are a few tips for understanding motorcycle insurance.

In MN, certain coverages that autos have to have are optional for motorcycle insurance. Here are the ins and outs of understanding motorcycle insurance.

Motorcycle insurance in MN needs one coverage, liability. A motorcyclist is responsible to cover the medical bills for the other occupants if you cause an accident, as a result, motorcyclists must carry the state minimum liability of $30,000/$60,000/$10,000. $30,000 per person, $60,000 per occurrence and $10,000 in property damage. I would suggest stronger limits than these.

That’s it! You can now legally ride a motorcycle in MN! But what about the optional coverages? Here they are and what they protect.

Understanding motorcycle insurance and Uninsured/underinsured motorist coverage

First of all, uninsured and underinsured motorist coverage is optional in MN for motorcycles. This covers YOU and YOUR medical bills up to the limits purchased. If someone is uninsured or underinsured and hits me, I want to be covered for medical bills. Otherwise, I am responsible. What if I broke my back and can’t work?  Keep in mind, 11 out of every 100 drivers in MN are uninsured and as of 2014, 50,000 citations were given out for driving without a valid license.

Motorcycle insurance and personal injury protection (PIP) or medical payments

Secondly, personal injury protection (PIP) or medical payments are optional for motorcycles in MN. Furthermore, this will cover the initial medical payments you may incur. This is important for the reason that if I don’t have this coverage, I will be sent the bills. If I can’t afford treatment, the bills will be sent to collections. If I am hit on my bike, I am going to get hurt. My medical bills could be costly. I have PIP that will cover my health insurance deductible. In many cases that could be $10-15,000. My health plan will only cover 80%, therefore, I will be responsible for the other 20.

Cover damages to your bike

I want damages to my bike covered, therefore, I would purchase this coverage to get my bike fixed. It’s a no brainer.

Life insurance

Above all, get life insurance!!! Every rider needs a life insurance policy because life insurance will replace your income, It’s for the living and the survivors you leave behind.

Helmet law

Lastly, the only helmet requirement in MN is for minors. Everyone under the age of 18 has to wear a helmet.

Bottom line

The optional coverages I discussed are costly and tend to go unpurchased. Riding a bike is dangerous and costly if you ever fall off. The optional coverages are for the rider(s) therefore It’s important for you to cover yourself. I urge all bike riders to purchase this coverage. My stepson was hit from behind and I am glad he was properly covered.

Understanding motorcycle insurance helps protect you, your bike, and passengers from the cost of an accident. Hitting the open road on your bike is a lot of fun but as a result, the bill for a motorcycle accident can quickly add up. Most noteworthy is we’ll help you determine the appropriate coverage and compare quotes to find you the best deal. Give us a call at (612) 467-9591 or request quotes to get started.

I hope to see you on the road!

Dan