Whether you are a seasoned motorcyclist or a newcomer, an accident can happen to anyone and be catastrophic. Having the right insurance and knowing the details of your policy is critical to protecting yourself and others out on the road. The proper insurance coverage for a motorcycle is not only a necessity, but the law.
Do I Need to Insure My Motorcycle?
The answer is yes. North Carolina motor vehicle law requires that all motorcyclists purchase liability coverage for their vehicles. They can do so under the Miscellaneous Type Vehicle Endorsement, which recognizes motorcycles (as well as golf carts, travel trailers, electric scooters, and similar vehicles) as motor vehicles to be covered by insurance. This is an extension of the Personal Automobile Policy, which serves to pay for any injuries or losses a covered motorist endures in an accident.
Premiums Will Vary
Insurance premiums for motorcyclists in North Carolina are subjective based on factors like the cyclist’s driving record, the motorcycle type, and its performance when operated. It is highly advised that you evaluate all of your options before even purchasing a motorcycle, as you do not want to purchase any vehicle only to find out that its usage is limited by coverage expenses.
Minimums and Coverage
Like any insurance policy, motorcycle policies have many facets and mandatory limits for the coverage they provide. In North Carolina, an insurance policy must cover at least $30,000 per person/$60,000 per accident to pay for bodily injury liability to whomever the policyholder causes injury or death. This coverage will pay for damages such as medical bills, funeral expenses, lost wages, pain and suffering, and legal expenses. A policy must also include at least $25,000 per incident in property damage liability, which covers vehicle or property damage for which the at-fault driver becomes legally liable.
Riders may also elect to purchase other than collision, also known as comprehensive coverage, as part of their policy. Comprehensive coverage pays for damage to your motorcycle related to hail, floods, lightning from thunderstorms, earthquakes, tornadoes, falling objects (such as tree limbs), fire or explosions, hitting an animal (such as a deer), theft, and vandalism or civil disobedience (such as a riot).
Uninsured (UM) vs. Underinsured (UIM) Motorists Coverage
Another form of coverage known as Uninsured/Underinsured Coverage protects a rider in the event they are injured in an accident due to a negligent uninsured or underinsured driver. This coverage ensures that the affected party is sufficiently covered despite the at-fault driver’s inability to provide compensation. However, it only covers certain conditions.
Uninsured Motorists (UM) Coverage protects against bodily injury, as well as property damage if an accident with an at-fault driver with no insurance occurs.
On the other hand, Underinsured Motorists (UIM) Coverage covers bodily injury but does not protect against property damage. The coverage pays the maximum difference of the underinsured driver’s liability limits with your UIM coverage.
We Put You First
Be sure to keep all of these different forms of coverage in mind when deciding what insurance plan would suit you and your motorcycle best. In the event of an accident, motorcycle wreck lawyers at Henson Fuerst are here to help. We will work tirelessly to help get the compensation you need for your injuries and losses. Call us toll-free at 919-781-1107 or fill out a form on our website today for a free consultation of your case.
