Riding a motorcycle is a fun and freeing experience, but you also face huge risks every time you jump on your bike. You must have the right coverage in place from a reputable insurance agency to protect yourself against any dangers. When shopping for the right kind of policy, you also have to make knowledgeable decisions based on your unique needs. The following guide can help you get started.

4 FAQ About Motorcycle Insurance

Do I have to have motorcycle insurance?

All motorists residing in Kentucky are obligated to have a minimum amount of liability coverage. This part of a policy pays for damage when you're deemed at fault for an accident. According to the law, you must have bodily injury protection totaling $25,000 per person and $50,000 for two or more people injured during an accident. You must also have a minimum $10,000 limit for any property damage that occurs during an incident. 

What other types of insurance do I need?

In addition to basic liability protection, motorcyclists are also encouraged to have collision and comprehensive coverage in place. Collision coverage pays for damage to your motorcycle, regardless of who was at fault, while a comprehensive plan pays for noncollision-related damage, such as theft and vandalism. 

You can also secure medical payment coverage if you lack additional health insurance and financial protection to help repair or replace damaged parts and accessories. High-value items may require an additional rider, which expands the limits of the original policy.

What happens if my bike is deemed a total loss after an accident?

This depends on what type of policy you have. An actual cash value policy will pay you for the value of your bike minus depreciation. Agreed value reimburses you for the full value of the bike that was agreed upon by you and the insurance agency when you purchased the policy. These plans are often used for extremely valuable bikes, such as custom or classic rides.

How much insurance do I really need?

How much insurance you need depends on a number of factors. People with more valuable motorcycles and equipment naturally require more coverage to ensure full protection. If you ride frequently—or use your bike daily—you should consider purchasing more insurance since you face additional risks compared to someone who rides once a month. The type of motorcycle also plays a role. Speed bikes often have a higher risk of accidents, so they require more coverage.

The agents at Insurance Marketing Group Inc. in Corbin, KY, will help you find the right policy to ensure you're fully protected on the road. This independent insurance agency leverages its relationships with numerous carriers to find the best plans at the most affordable prices. Their agents provide skilled customer service at every step, whether you're just signing up or need to file a claim. They also offer auto, homeowners, and business insurance. Learn more about their motorcycle coverage options online, or call (606) 523-0881 to get started on a quote.