Motorcycle Insurance - Minnesota
This is going to hurt
Which Motorcycle insurance in Minnesota is the best for you depends on you. There are state requirements and then there are options.
LIABILITY COVERAGE - Like auto insurance Motorcycle Liability insurance covers bodily injury and property damage that you may cause to other people involved in an accident. It doesn't cover you or your motorcycle. some insurers offer Guest Passenger Liability, which provides protection in the event that a passenger is injured on the motorcycle. Whether or not this is included depends on the laws of your state and the company issuing the policy.
COLLISION COVERAGE- As it sounds Collision insurance covers damage to your motorcycle if you are involved in an accident. Your insurance company pays for damages, less your deductible, caused when you crash with another vehicle or object. Collision insurance usually covers the book value of the motorcycle before the loss occurred.
COMPREHENSIVE COVERAGE - Comprehensive coverage pays for damages caused by an event other than a collision, such as fire, theft or vandalism or a deer running into the road. However, just like collision coverage, your insurance company will pay for damages, minus your deductible, and will cover only the book value of the motorcycle.
Most companies will only cover factory standard parts on your motorcycle. If you decide to add on any optional accessories such as chrome parts, a custom paint job, trailers or sidecars, you should look into obtaining additional or optional equipment coverage at a cost of course.
UNINSURED/UNDERINSURED MOTORIST COVERAGE - Uninsured/underinsured Motorist Coverage covers damages to you and your property caused by another driver who either doesn't have insurance (uninsured) or doesn't have adequate insurance (underinsured) to cover your damages. A few years back in Minnesota 1 out of every 4 drivers was uninsured.
This coverage typically pays for medical treatment, lost income and other damages. If your uninsured/underinsured motorist coverage includes property damage, then your motorcycle would also be covered under the same circumstances. Check with your insurance professional to see if property damage is included or needs to be purchased separately.