Category: Moto

Do I need insurance before buying a motorcycle?

If you are ready to purchase a motorcycle in Florida, then you will definitely need to purchase coverage on the bike. Many bikers wonder if they need to first purchase insurance before buying their motorcycle. Generally, it depends on your situation. Here is all you need to know about motorcycle insurance in Florida.

So do I need to purchase coverage beforehand?

It depends on your situation if you can purchase coverage before purchasing the bike. Let’s say you are going to purchase a bike from a seller or a close friend. You may go ahead and call your insurance company and get the bike covered before heading over to pay for and pick up the bike. However, if you are leaning more towards going to a dealership and purchasing a bike, you may want to hold off until after you finalize the purchasing process. You may show up at the dealership and change your mind and decide to purchase a bike that wasn’t originally planned.

So, if you know 100% that you are purchasing a particular kind of bike, it’s safe to go ahead and get it covered. I mean when you go to pick it up you will obviously want to drive it back home. Motorcycle insurance in Florida from will be able to cover you and your bike easily.  There are many coverage options available for you.

What coverage options are available?

For the most part, coverage options that are available for your motorcycle include the same standard ones you see for auto insurance. Most companies will be able to offer you these types of coverages. These coverages are collision, comprehensive, medical payments, and personal injury protection.

  • Collision – This will pay out damages to your motorcycle minus your deductible.
  • Comprehensive- This will pay if your motorcycle is stolen or damaged by something other than a vehicle collision. For example, an animal collision is covered.
  • Medical Payments – This coverage type will be able to cover any medical bills if you and your passenger are injured in an accident.
  • Personal Injury protection – This will usually pay for any medical costs for injuries no matter who is at fault.

There are three types of settlements that you need to understand if your bike becomes damaged or stolen. They are as followed:

  • Actual Cash Value – This will be able to pay out the cash value of what your bike is worth, this does not include your deductible or depreciation.
  • Stated Amount – This will pay out the amount you selected when you bought your policy.
  • Agreed Value – This will be able to the amount you and the insurance company agreed on when you bought the motorcycle.

When it comes motorcycle insurance in Florida here, shop carefully. It’s quite simple to purchase a policy. Just take your time, do your research, and never drive without a policy!