Now that you’ve bought the Harley of your dreams, you now have something else to think about: insurance. Insurance is required for all motor vehicles in Texas. In fact, if you don’t meet the minimum requirements, you could get your license suspended and your motorcycle impounded.
Motorcycle insurance is different from car insurance. Riding a motorcycle is riskier than driving a car, which means that your insurance reflects that. Your insurance coverage will reflect the safety feature of your bike, costs of repair and its value. The good news is that motorcycle insurance is not as expensive as car insurance. It’s often as much as 60 percent less.
Each state sets its own minimums for insurance coverage. For Texas, the minimum for motorcycles is 30/60/25. This means that you must have liability insurance that covers $30,000 per person injured in an accident, $60,000 per accident and $25,000 for property damage.
Keep in mind that this is the minimum amount of coverage that you need to ride legally in Texas. To cover all the damages you could suffer in a crash, you may need much more. Motorcycles are smaller than cars, but can cause significant damage, especially in terms of injuries. Therefore, the more liability insurance you can afford, the better.
Other Insurance Coverage
If you are financing your vehicle, you are usually required to purchase collision and comprehensive coverages. Collision coverage will repair your bike in the event of an accident, while comprehensive will pay for damages caused by other events, such as fire, floods or theft. If your bike is customized, you should increase your coverage so you have the money to replace the parts if needed. If your bike is older, though, you may decide that you don’t need these coverages. Think about the value of your bike before purchasing.
Uninsured and underinsured motorist coverage is a good idea, especially since many motorists do still drive without insurance. If you suffer serious injuries from an uninsured motorist, you’ll end up paying for your medical bills if you don’t have this type of insurance. This could mean hundreds of thousands of dollars out of your pocket.
Roadside assistance is another good coverage to have. If you are stranded on the road, this coverage will pay for towing and the cost of a rental vehicle while your motorcycle is being repaired. It may pay for other expenses as well.
You may not need medical payments coverage if you already have health insurance. However, if you frequently carry passengers on your motorcycle, having this coverage will protect them.
Contact a Personal Injury Lawyer
If you’re considering buying a motorcycle for the first time, you may want to learn more about your options. You can get an adequate amount of insurance for less than what you pay to insure a passenger vehicle.
Not sure what types of insurance you need? The Austin, Texas personal injury attorneys at Christensen Law Firm, PLLC can make sure you meet the state requirements while making sure you have enough coverage in the event of a crash. Contact us today at (512) 220-1800 to schedule your free consultation.