Like every other motorized vehicle, a motorcycle needs to be covered with insurance to protect you and your motorcycle in the event the unexpected ever occurs. Insurance helps to provide you the peace of mind from knowing that you and your motorcycle are protected in case of loss or theft as well as for damage incurred in an untoward incident. Insurance can help cover the cost of repairs to your bike and medical costs to you in the event of an accident. Your motorcycle insurance policy also provides coverage if your bike is stolen.

Insurance coverage can vary with the type of motorcycle you have—whether it is a cruiser, sport bike, high-performance bike or standard urban motorcycle. But usually the types of coverage can be categorized into(1)  third-party liability insurance, meaning that a third party other than the owner or the government will shoulder the expenses resulting from damage or injury to a person resulting from the use of the vehicle, and (2) comprehensive insurance, which includes the basic liability plus coverage for the driver’s own damage to the unit and loss of the unit.

In addition, the following are some of the more detailed or specific types of motorcycle insurance coverage:

• Accessories insurance—often included as part of a comprehensive or collision coverage and includes coverage for accessories such as helmet, saddlebags, backrests, seats, chrome pieces and CB radios.
• Bodily injury liability—coverage that will come to your help if you inflict bodily injury to or cause the death of a person while you are using your motorcycle. It is also a provision for a legal defence in the event of a lawsuit against you.
• Medical payments or personal injury protection—coverage that will pay for medical expenses of the injured driver and passenger.
• Uninsured motorists’ insurance—protection that will pay for any injuries you suffer that are caused by an uninsured driver in an accident where you are not at fault.
• Comprehensive physical damage insurance—provides protection for damage to your motorcycle or loss from theft, vandalism, flood, fire and similarly serious dangers.
• Collision insurance—answers for damage to your motorcycle as a result of hitting or being hit by another vehicle or object.
• Property damage liability—provides protection coverage for damage you cause to another person’s property as a result of an accident that is your fault; likewise provides you with a defence by an attorney.

You should always remember to negotiate for a discount with an insurer. Leading insurers are willing to give discounts for multiple vehicle coverage and for a customer with a safe driving history or record. Some insurers may also agree to specific coverage for periods when you plan to travel to other countries and expect to ride a motorcycle while there.

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