Common Myths About Motorcycle Insurance Debunked

As a motorcycle owner, understanding the truth behind common misconceptions about insurance is crucial. In this article, we’ll debunk eight prevalent myths related to motorcycle insurance, providing you with accurate information to make informed decisions. Whether you’re a seasoned rider or a new enthusiast, it’s essential to separate fact from fiction and ensure you’re adequately protected on the road.

8 Common Motorcycle Insurance Myths

The following are eight misconceptions about motorcycle insurance that could impact your decision-making process:

1. Motorcycle insurance is expensive.
   Many people assume that motorcycle insurance is expensive due to the higher risk associated with riding motorcycles. While premiums can vary based on factors like the type of motorcycle, driving record, location and coverage limits, not having insurance can lead to significant out-of-pocket expenses in case of damage or injuries.
2. Car insurance claims history does not affect motorcycle insurance rates.
   Although car and motorcycle insurance are separate products, insurers may consider your overall claims history. If you’ve had a car accident, it can impact your motorcycle insurance rates, even if you buy policies from different providers.
3. Not filing claims will prevent an increase in premiums.
   Insurers gather information from various sources, not just your claim reports. They may still learn about accidents or traffic violations even if you don’t file a claim. Transparency is crucial for accurate risk assessment.
4. Borrowing a friend’s motorcycle means their insurance covers you.
   If you borrow a friend’s motorcycle, their insurance won’t necessarily cover you.
5. Parking tickets impact motorcycle insurance rates.
   Parking tickets alone may not have as substantial an impact on insurance rates as other factors like accidents or traffic violations; however, accumulated fines may impact future vehicle registration.
6. Minimum motorcycle insurance coverage is sufficient.
   Riders sometimes believe that minimum insurance coverage provides adequate protection. Motorcycles face a high number of risks, so minimum coverage may not be enough. Customize your coverage based on usage, your bike’s value and other essential factors to ensure maximum protection.
7. You should cancel motorcycle insurance during winter.
   Terminating your policy exposes your motorcycle to off-road risks. Insurers may charge more or deny renewal if you repeatedly cancel during winter months.
8. At-fault drivers pay for damages.
   Liability coverage can pay for other people’s damages, not your own. For personal protection, consider additional coverage, like collision insurance, to help cover repairs to your bike.

Insurance for Motorcycle in Tyler, TX

Contact Lamas Insurance Agency today to discuss your motorcycle insurance needs. We can make coverage recommendations based on your motorcycle and driving habits.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.