Colloquially referred to as a “bike,” motorcycle insurance can be baffling in regard to motorcycle customization. The standard motorcycle policy will provide collision and comprehensive coverage, which is typically enough for most bike riders. However, if you have a high-end cycle, vintage vehicle, custom built motorcycle, or have added custom parts, you’ll definitely want to explore coverage options carefully before making a purchase.
Some insurance companies may refuse to insure custom motorcycles, while others will insure the vehicle but the premiums could be astronomical. Disagreements can arise over what constitutes a custom vehicle and its actual value. The term ‘custom motorcycle’ encompasses nearly every bike that isn’t factory stock in specific ways. From an insurance company’s perspective, even luggage racks, trunks, and sissy bars are considered customizations.
One of the most important differences in Florida is that personal injury protection isn’t required as it is in many other states. In fact, Florida is distinctly different in that riders aren’t asked to carry the excessive amount of coverage that many states across the nation require. For instance, individuals in northern climates where winter holds sway often pay more for a single year’s worth of insurance than people in Florida that can ride year-round.
Motorcycle insurance is required in Florida and there are consequences for not having coverage. If someone is injured in a motorcycle accident, an individual doesn’t have to demonstrate a permanent injury to recover funds for pain and suffering. Another factor to consider for motorcycle owners when purchasing insurance is if their bike is among those most likely to be stolen.
Despite being less regulated, that doesn’t mean that understanding motorcycle insurance is easy for the average rider. It’s essential for anyone with a motorcycle to consult with an insurance agent that can provide them with information about minimum coverage amounts and any available discounts. If you have a customized cycle, speak with an agent specializing in custom motorcycle insurance.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
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