Motorcycle Insurance Requirements

People who live in Wayzata, MN and who ride on motorcycles are required by state law to purchase various insurances, ensuring the protection of everyone who travels on the road. The penalties are severe for those who drive without their proof of insurance, and uninsured people can face heavy fines. They can even be arrested and put into prison. In addition, a motorcycle operator can have his or her license suspended or revoked if they do not purchase insurance within the allotted period of time prior to their court date.

Insurances Required by Minnesota State Law

You are responsible for obtaining coverage that will pay for the damages rendered to another person’s vehicle or property that are found to be your fault. You also must carry indemnification that will pay for the medical bills related to the bodily injuries that result from a collision that is caused by you. 

The state of Minnesota sets forth requirements that motorcyclists also have underinsured motorist insurance. This provision ensures that a person is still protected when they are hit by somebody who does not have adequate insurance coverage, and each driver must have insurance that provides for his or her own bodily harm and for the physical losses sustained. 

In addition, Minnesota residents are mandated to purchase uninsured motorist coverage. This insurance will pay for the medical costs related to accidents that involve a person who does not have insurance. Personal Injury Protection, while a requisite for drivers of cars and trucks in Minnesota, is not a requirement for motorcycle operators.

Pizano Insurance Can Help You  Get Insured

Pizano Insurance has served the residents of Wayzata, MN for years, and we can find the right motorcycle insurance package for you. Call us, or visit our office to speak to one of our friendly agents today!

Does Your Commercial Insurance Cover Damage to a Third Party’s Vehicle While It’s On Your Property?

The agents of Pizano Insurance serve residents and business owners in Wayzata, MN. It’s important for business owners to have a commercial policy in place that protects their investment as well as prevents financial loss in case of an accident. Liability insurance is just one of many different types of policies that are included in commercial coverage insurance.

Third Party Liability

Third party liability involves coverages for damages to a third party’s property while it’s in your business. Liability coverage protects your business from financial loss if a person’s property is damaged or they are physically injured while on property owned by your company. The three parties involved in this type of coverage are the insurance agency, the business owner and the owner of the property in question. Most types of liability coverage are considered third party liability.

Umbrella Coverage

Umbrella coverage is a term given to a grouping of insurance policies that are used to protect a business from many different types of loss. This is sometimes considered an additional line of coverage that goes over and above what other types of policies cover. It generally pays for major claims that would cause a catastrophic financial loss for your company. It also includes coverage for situations that are not covered by traditional policies.

If you’re a business owner in Wayzata, MN and need answers about commercial insurance coverage, call the agents of Pizano Insurance today. They can evaluate your needs and find a policy that provides the right amount of coverage for your particular type of business. Call them today to schedule a review of your insurance policy!