What is Motorcycle Insurance?
Owning a motorcycle is lots of fun, but the fun comes with a certain level of risk. Thousands of motorcycle accidents occur each year, and the settlements that come from these accidents total billions of dollars. While every Vermont resident who gets on a motorcycle considers and accepts the associated risks, it’s also important to prepare for what could potentially happen. One way to prepare is to get motorcycle insurance.
Motorcycle insurance is similar to auto insurance, except it’s specifically designed for people who own motorcycles. The coverages found in motorcycle policies are frequently similar to those contained in auto policies, but they’re often slightly altered to address the unique needs of motorcycle riders.
Who in Vermont Needs a Motorcycle Policy?
Vermont residents who own a motorcycle generally should have insurance for it. In order to legally ride on public roads in the state, motorcycle owners need motorcycle liability insurance coverage that at least meets the state’s minimum requirements. In addition to motorcycle liability insurance coverage, riders who have financed or leased their bike are often obligated by the terms of their agreement to carry comprehensive and collision coverage for the bike.
Even if a bike isn’t being taken on public roads, riders still often should have motorcycle liability insurance coverage and other protections. Accidents can occur on trails, private drives and even in garages.