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If you are an Elk River, MN resident who is planning to insure your motorcycle, you are probably wondering exactly what your new motorcycle insurance policy will cover. Actually, the answer can be different for every person since you have the ability to customize your insurance policy. However, there are several different basic coverage types that you will probably choose to include in your plan for the fullest coverage. Those include:
Liability Coverage
The law in Elk River, MN and all other areas in the state requires you to maintain liability insurance on your motorcycle. This coverage gives you protection in the event that you are the cause of an accident. The state does set minimum levels of liability coverage. For example, damage to one person must be insured in the amount of $30,000, damage to two people must be insured in the amount of $60,000, and you must also maintain property damage coverage for vehicle repairs in the amount of $10,000.
Underinsured and Uninsured Coverage
The law also requires MN residents to hold both underinsured and uninsured motorcycle coverage. Underinsured coverage takes over paying for damages you sustain if the other (at fault) driver doesn’t have enough insurance. This coverage must be maintained for $25,000 for one-person injures and $50,000 for two-person injuries.
The uninsured coverage will cover your medical damages if the driver responsible for the accident did not have insurance. This coverage must be held in the same amounts as the underinsured motorist coverage, $25,000 and $50,000.
You may also want to get other optional coverage types that protect your vehicle, namely comprehensive and collision. Collision coverage can pay for repairs to your vehicle in accidents while comprehensive is there to cover the damages that don’t happen on the road.
It is quite easy to get the best motorcycle insurance coverage for your budget by comparing insurance quotes with Pizano Insurance over the Internet in just minutes.