While you’re getting your bike ready for another great season, motorcycle insurance is probably not the first thing that you’re thinking about.
However, it’s a good idea to add it to your checklist so you have the right coverage to protect yourself, and at a rate that keeps gas in your tank.
The Bare Minimum
Wisconsin law requires motorcycle insurance, and all riders must have a minimum of 25/50/10 coverage.
You have three options to prove to the Wisconsin Department of Transportation that you have met the “financial responsibility” insurance requirements:
- Carrying a liability policy for at least 25/50/10 limits
- Placing a cash deposit of $60,000 with WisDOT
- Posting a bond issued by an insurance company
Behind the Numbers
But what does 25/50/10 coverage actually mean, and is it enough protection for you and your family? Let’s take a look.
If you are in an accident and you cause injury or death to a person or person(s),
your insurance would cover up to $25,000 for one person if they are injured in an accident.
If there is more than one person injured in an accident that you are at fault for,
then the maximum the insurance company will pay out for is $50,000.
The last number (in this case $10,000) is the maximum amount of money
that your insurance will cover for property damage.
There are Plenty of Other Questions …
Even if you meet Wisconsin’s requirements, determining the right motorcycle insurance coverage is a lot like the open road. You just never know what’s around the next corner.
If you want to insure yourself or your bike for anything beyond just protecting “the other guy”, then you will want to explore purchasing more than the state minimum insurance.
So ask yourself a few key questions:
Do you want to purchase insurance for your own motorcycle if it’s damaged in a collision and the person who’s hit you doesn’t have insurance (or not enough insurance)?
What if your bike is damaged by something other than a collision such as vandalism, hail damage, etc.
What if your bike is stolen?
What happens if you collide with something like a tree or a fence?
Do you want your insurance to pay for medical payments if you are injured?
Do you need additional coverage for any custom work on your bike or attached side cars?
The Road to Savings: Multiple Policy Discounts
You can get a discount on your motorcycle insurance for having other policies in place! One of our trusted insurance advisors can show you the path to savings. Just visit our contact page or call (262) 326-4750 to speak to a member of our team.
The freedom to ride is truly an amazing feeling. It’s even more amazing when you know you have the best insurance protection available.