Do you have the right insurance coverage on your motorcycle insurance policy in Ohio?
As you may know, Ohio boasts one of the largest populations of motorcycle riders in the country.
And while this likely means we’re one of the coolest states in the nation, it also means that with more riders, comes more risk.
Which is why we are taking it upon ourselves to make sure all Ohio motorcycle riders have the right motorcycle insurance protection in place.
In this article we’re going to answer some of the most common questions on motorcycle insurance, and offer our recommendations on the key coverages you need on your motorcycle insurance policy.
What Motorcycle Insurance Do I Need?
In the state of Ohio, you are required to have Motorcycle Insurance.
It is our recommendation to carry these motorcycle insurance limits:
- $100,000 – bodily injury coverage for an accident involving one person
- $300,000 – bodily injury coverage for an accident involving two or more people
- $100,000 – property damage coverage.
As of 2018, the state of Ohio requires your motorcycle insurance policy to have at a minimum these three limits:
- $25,000 – bodily injury coverage for an accident involving one person
- $50,000 – bodily injury coverage for an accident involving two or more people
- $25,000 – property damage coverage
The numbers above reflect the state minimum requirements for motorcycle riders in the State of Ohio. However, our Personal Account Managers can advise you on the recommended limits for your motorcycle insurance policy.
What Does Motorcycle Insurance Cover?
We highly recommend that you include these four insurance coverages on your motorcycle insurance policy:
- Liability Insurance, which covers bodily injury and property damage that you may cause to other people involved in an accident.
- Bodily injury liability typically covers the other driver or your passenger’s expenses such as medical bills, lost wages, and pain and suffering.
- Property damage liability typically covers the expense of repairing damage to others’ property (vehicles, homes, fences, etc.)
- Collision Insurance, which covers damage, minus your deductible, to your motorcycle if you are involved in an accident. Keep in mind, collision insurance usually covers the book value of the motorcycle before the loss occurred.
- Comprehensive Insurance which pays for damages caused by an event other than a collision, such as fire, theft or vandalism. However, just like collision insurance, your policy will pay for damages, minus your deductible, and will cover only the book value of the motorcycle.
- Uninsured/Underinsured Motorists Insurance which covers damages to you and your property caused by another driver who either is uninsured or underinsured to cover your damages. This coverage typically pays for medical treatment, lost wages and other damages.
There’s also optional Equipment Coverage. So, if you decide to customize your motorcycle, you may want to look into obtaining additional, optional equipment coverage. Most comprehensive and collision insurance coverages only cover the factory standard parts on your motorcycle.
Do I Need Motorcycle Insurance Year-Round?
If you only ride your motorcycle during the warmer seasons, you may want to consider a lay-up motorcycle insurance policy.
If your motorcycle is stored for months at a time, a lay-up insurance policy will suspend all coverage except comprehensive coverage for a specific period of time. So that way, you still have coverage on your motorcycle for theft and any non-accident related damages such as a fire or vandalism. Also, because the Ohio weather is so unpredictable, you could keep a limited level of liability coverage so you could ride on those randomly and unexpectedly warm days during the winter months.
How Much Does Motorcycle Insurance Cost?
According to ValuePenguin, The average cost of a motorcycle insurance policy in Ohio is about $457 per year, which breaks down to about $38 per month. However the cost of motorcycle insurance varies depending on a number of factors including (but not limited to) age, years of experience and driving record.
In addition to having the right motorcycle insurance policy, it’s important for motorcycle riders to be aware of the risks they face while out on the road.
To help riders like you stay safe, we recommend the following motorcycle safety tips:
- Attend motorcycle training courses and get a license specifically for a motorcycle
- Always wear a helmet and other appropriate gear
- Do not ride under the influence
- Practice using the controls and gears while your motorcycle is off and parked
- Follow posted speed limits
- Look out for hazards such as potholes, cracks and bumps in the road
- Exercise extreme caution when you are carrying passengers
Need help securing a motorcycle insurance policy?
Let’s talk. Call us at (330) 334-1561 or email firstname.lastname@example.org to connect with one of our Personal Account Managers, who can review your personal insurance and discuss with your motorcycle insurance needs.
This article was adapted from Zywave. This is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice.