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If you own a motorcycle, having collision coverage is essential. Contact Encore Insurance Group today to add collision coverage to your insurance policy.

As a motorcycle owner, your bike is probably your pride and joy. However, without collision coverage, your insurance policy would not provide any benefits to repair damages to your motorcycle in the case of an accident. All of the money you have invested in your bike would essentially be for nothing.

Adding collision coverage on a motorcycle insurance policy can give you peace of mind that you will be able to repair your bike in the case of an accident. Even better, this coverage is typically very affordable, so you may not even notice the additional funds coming out of your bank account.

At Encore Insurance Group, a local Michigan agency, we can help you adjust your motorcycle insurance policy to include all of the coverage you would need to pay for repairs and damages resulting from a crash. We’ll put our expertise to work to find the coverage you need at a price you can afford. 

What Is Motorcycle Collision Insurance?

Motorcycle collision insurance provides funds to repair your bike if you damage it in an accident. This type of coverage typically applies to accidents in which you were at fault as well as ones in which another driver was at fault.

Motorcycle collision coverage pays for physical damage to your own motorcycle in an accident. It does not cover medical bills if you become injured in an accident. It also does not cover physical damage to other vehicles or medical bills for those persons that were involved in the crash.

Collision coverage includes three major components:

  •     Premium: The premium is the amount you pay each month or year to hold motorcycle collision coverage.
  •     Deductible: Your deductible is the amount that you will need to pay before your collision coverage kicks in. For example, if your deductible is $500, you’ll need to pay the first $500 in the event of a crash, then your insurance company will cover your damages.
  •     Limits: Your coverage limit is the maximum amount your insurance company will pay you for your collision claim. For example, if your limit is $8,000, your insurer will give you $8,000 for your crash above your deductible. You’ll be responsible for any expenses exceeding this limit.

Typically, premiums and deductibles have an inverse relationship. For example, if you opt to pay a higher monthly premium, your deductible will be lower. If you can only afford a small monthly premium, your deductible will need to be relatively high.

Is Collision Coverage Required in Michigan?

Each state requires its motorcycle owners to hold certain insurance coverage to operate their vehicles on the road.

In Michigan, motorcycle owners must carry liability coverage, which would protect them if they cause physical or bodily damage to another party during an accident. This motorcycle liability coverage must be separate from other auto liability coverage on their policies.

Collision coverage is not required for motorcycle riders in Michigan. However, it’s a good idea to add this coverage to your policy to save you money in the event of a crash.

Comprehensive vs. Collision Coverage

Many people confuse motorcycle comprehensive and collision insurance. However, these policy types provide completely different coverage for your bike.

As we’ve discussed, collision coverage can pay to repair your motorcycle after an accident. Meanwhile, comprehensive coverage covers repair or replacement costs from other, non-accident events, such as:

  •     Theft
  •     Fire
  •     Vandalism
  •     Hail damage
  •     Wind damage
  •     Lightning

We recommend that you purchase both comprehensive and collision insurance for motorcycles. Holding both of these coverage types can give you more complete coverage if you need to repair or replace your bike.

If you’re looking to add motorcycle coverage to your policy, you may be able to save money by switching to a different insurance company. At Encore Insurance Group, we can provide you with quotes from several motorcycle insurance companies and help you determine the most affordable option.

Contact us at Encore Insurance Group today at 248-466-0200 if you live in Michigan.