Motorcycles are always a joy to ride, but their compact nature makes them more susceptible to theft than other vehicles. Many people purchase insurance because they’re legally required to, but does motorcycle insurance cover theft?
Legal Requirements
The minimum requirements in Richmond, VA, state that all registered vehicles, including motorcycles, must carry minimum liability insurance. This must include:
- $20,000 property damage liability insurance
- $25,000 bodily injury liability per person
- $50,000 total bodily injury liability per accident
Motorcycle owners who obtain minimum liability insurance to meet legal requirements will not have insurance that covers theft. However, other insurance options are available to provide additional coverage.
Additional Coverage
Insurance companies like Cary-Wheeler & Associates Inc. offer several levels of coverage to protect motorcycles. Motorcycle owners may have the same options as car owners do:
- Comprehensive Coverage: Comprehensive coverage provides coverage for events other than an accident with another vehicle, such as hitting a telephone pole or animal, vandalism, theft, and weather damage.
- Collision Coverage: This provides coverage for your motorcycle if you’re in an accident with another vehicle or object. However, some companies offer collision coverage for accidents with another vehicle and only provide coverage for accidents with an object or animal under comprehensive coverage.
- Uninsured Motorist Coverage: This type of coverage can help you if you’re in an accident with someone who doesn’t have insurance or whose insurance isn’t enough to cover the cost of damages.
Motorcycle owners can also enjoy roadside assistance, coverage for add-ons, and more. However, this varies depending on the company you work with.
We understand motorcycle owners are more likely to deal with theft. That’s why experienced agents at Cary-Wheeler & Associates Inc. will help you find the right coverage to ensure you’re protected. Contact us today to find the right policy for your motorcycle. We’re currently serving the Richmond, VA area.