Posts Tagged ‘motorcycle insurance quote’

Oklahoma Motorcycle Insurance Minimum Requirements

Saturday, July 2nd, 2011

Oklahoma motorcycle owners must have liability coverage in place to comply with state law. Bodily injury and property damage coverage protect the occupants of the other vehicle. Physical damage coverage to protect the bike itself is not required under Oklahoma state law but if the owner took out a loan to pay for the motorcycle, the financing company may insist that the owner keep full coverage in place until the bike has been fully paid for.

The minimum amount of bodily injury liability coverage which must be put in place to stay legal is $10,000 to pay for a single accident victim’s injuries and $20,000 to pay for all medical bills and related expenses stemming from the same accident. This part of the policy also pays out a funeral benefit if the accident results in one or more fatalities.

Property damage coverage of $10,000 or more must also be on the policy so that the Oklahoma motorcycle owner can comply with state law. The minimum amount for this type of protection is $10,000. It pay for repairs to the other driver’s vehicle and for any public property damaged in the accident.

Full coverage on a motorcycle means keeping collision and comprehensive protection in place. Collision coverage pay for the cost of repairs to the vehicle following an accident which involves striking a vehicle or another object. If the bike is totaled, the policy pays out based on the bike’s cash value.

Comprehensive coverage is used when the loss stems from an event other than a collision and pays for damage caused by fire, severe weather or vandalism. It also pays out if the bike is stolen.

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Posted in Motorcycle Insurance, Oklahoma, USA |

North Carolina Motorcycle Insurance Requirements

Thursday, June 30th, 2011

North Carolina motorcycle owners are required to have at least a minimum level of insurance coverage in place to stay legal. Under state law, drivers must buy at least $30,000 per person for bodily injuries and $60,000 to compensate all victims injured in the same accident. This type of coverage also provides a funeral benefit if the accident causes one or more fatalities.

Property damage of at least $25,000 must also be purchased by motorcycle owners. This coverage pays for repairs to the other driver’s vehicle following an at-fault accident. This part of the policy also pays for repairs to public property, such as fences, sign posts and light stands.

Physical damage coverage on motorcycles is not required under state law. If the bike has been financed, the lender may require an owner to keep this type of protection in place to protect its interests until the bike has been paid off in full.

Collision coverage pays for repairs to the bike following a collision which involves striking another vehicle or an object. In a situation where the bike has been totaled, the insurance company will write a check for its cash value.

Comprehensive coverage pays out when the damage to the bike was caused by something other than a collision. It pays for losses stemming from event such as hail, flooding, vandalism or fire. This part of the policy also pays out if the bike is stolen and not recovered.

 

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Posted in Motorcycle Insurance, North Carolina, USA |

Kentucky Motorcycle Insurance Minimum Requirements

Saturday, June 25th, 2011

Motorcycle owners in Kentucky must buy comply with the state’s financial responsibility legislation. To do so, they must buy third party liability coverage and they can add no-fault coverage onto their policy if they choose.

The minimum amount of liability coverage that must be put in place is $25,000 to pay for injuries sustained by a single accident victim and $50,000 to compensated all occupants of the other vehicle injured in the same accident.

Property damage insurance of $10,000 or more must also be purchased under state law. It is used to pay for repairs to the other driver’s vehicle following the incident. This coverage also pays for repairs to public property damaged in the accident. Mail boxes, light stands, fences and guard rails may fall into this category.

Motorcycle owners who choose to buy no-fault insurance coverage can get up to $10,000 in protection to pay for their injuries and lost wages incurred as a result of the accident. Doing so means that the policyholder has limited rights to sue to collect damages from the at-fault driver. The advantage to getting compensation from one’s own insurance company is that settling the claim should be accomplished much quicker and easier than if the matter was taken to court.

A driver looking for Kentucky motorcycle insurance coverage can choose to buy a third party liability policy with a higher limit than the minimum amount required by law. This will provide the driver with a higher level of protection in the case of a serious accident.

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Posted in Kentucky, Motorcycle Insurance, USA |

Indiana Motorcycle Insurance Requirements

Friday, June 24th, 2011

Indiana motorcycle owners are required to have third party liability coverage in place to comply with state laws. The minimum level of coverage required for bodily injury is $25,000 to cover the injuries sustained by a single accident victim and $50,000 to pay for all injuries stemming from the same accident. This type of coverage protects the occupants of the other vehicle when an accident occurs, and it also pays out a funeral benefit if one or more fatalities occur as a result.

A property damage liability policy with a limit of at least $10,000 must also be put in place under Indiana state law. Property damage coverage pays for repairs to the other driver’s vehicle. It also covers public property, such as mail boxes, sign posts, fences and guard rails.

A motorcycle owner in Indiana can choose to buy a policy with a higher limit if he or she wishes to do so. In this tort state, one driver will be found at fault for an accident and that person is responsible for paying for the damages he or she caused. In a situation where the available coverage doesn’t fully pay for the damages, the at-fault driver will be responsible for making up the difference personally.

Although Indiana motorcycle insurance requirements don’t specify physical damage coverage, an owner should consider putting this important protection in place. Collision and comprehensive coverage pay for repairs following an accident or other types of losses, such as wind, flooding, fire and theft.

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Posted in Indiana, Motorcycle Insurance, USA |

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