You are required by the state of New Jersey to have liability insurance on your motorcycle to operate it on the state roads and highways. If your bike is financed, you will be required by the lender to have additional insurance to cover damages to it in the case of an accident.
A motorcycle is defined for insurance purposes as a two-wheeled vehicle with an engine displacement of more than 50cc. In this case, it is considered a motorcycle and must be insured and registered in New Jersey and the tri-state area.
The minimum liability coverage for motorcycles is expressed as 15/30/5, meaning that you need $15,000 coverage for injuries to one person in an accident, $30,000 coverage for injuries to more than one person in an accident, and $5,000 property damage.
The state minimum liability insurance on your motorcycle only pays out to others for damages that you cause to a person or property. It does not cover any damages to your motorcycle or your injuries. Also, you can add many of the same items to your insurance policy for your motorcycle as you do on a car. Comprehensive and collision cover damages to your motorcycle from an accident or natural forces, such as storm damage and theft. This type of insurance will repair or replace your motorcycle if it is totaled. You can also add medical payments coverage to take care of any medical bills from being in a motorcycle accident. Optional equipment coverage will cover losses on accessories that you have added to your bike if a crash were to occur.
Uninsured and underinsured motorist coverage from Rock Insurance Agency Inc. in Medford, NJ will cover your medical costs and damages if the other driver is at fault and has either no insurance or not enough to cover your damages. Towing and labor coverage are useful items to consider, as it will pay for a tow truck in the case that you break down, have a dead battery, a flat tire, or lose your keys.
It can be quite confusing to secure motorcycle insurance. You can call Rock Insurance Agency Inc. in Medford, NJ in the tri-state area to get help in deciding on the perfect amount of coverage that you need to give you peace of mind.