Speeding down the roads on a motorcycle can be a lot of fun. Whether you’re on a cruiser, a custom bike, or something else, you need to have a motorcycle insurance policy that you can rely on. At MSM Insurance Agency Inc., our agents in Kearny, NJ can help you build a policy.
Is motorcycle insurance required?
The moment you buy a motorcycle, you will need to look into insurance. This is because the state requires it. You will need to meet the minimum liability levels to stay compliant.
Beyond what the state requires, you may also need to have added coverage based on what a lienholder requires. For example, if you are leasing or making payments on your motorcycle, the bank that owns your vehicle may require more insurance as a way to protect it. You will need to provide proof of insurance to them, too.
The Specifics of a Policy
You have the opportunity to customize a policy based on what’s important to you. Adding a bit more coverage than what is required by the state can also provide more financial protection.
You will want to identify how a motorcycle is calculated in terms of the replacement cost. This can be based on actual value or depreciation. If you have added a lot of aftermarket parts to your bike, you will want to make sure you get actual value to avoid paying too much out of pocket for repairs or a replacement.
As you explore a policy, you will also want to consider other forms of coverage:
- Other damage
When you have the right policy, it offers you peace of mind when you’re on the road.
Start shopping for motorcycle insurance in New Jersey, New York or Florida with the help of our agents at MSM Insurance Agency Inc. in Kearny, NJ. Call to get customized policies and ask about the various available levels of coverage.