Protecting Your Investment: Full-coverage vs. Liability-only Motorcycle Insurance

Motorcycle insurance is essential for riders, but navigating the available options can be overwhelming. One critical decision you’ll face is whether to choose full-coverage or liability-only insurance. Let’s explore the differences to help you make an informed choice.

What Is Liability-only Motorcycle Insurance?

Liability-only insurance primarily helps financially cover bodily injury and property damage liability resulting from accidents you may cause. However, it doesn’t extend to your motorcycle or personal injuries. In many states, motorcycle owners are required to have liability insurance. It can help ensure you can compensate others if you’re at fault in an accident. While liability-only insurance is more affordable than full coverage, it won’t cover your medical expenses, bike repairs or replacement if your motorcycle is stolen or damaged.

What Is Full-coverage Motorcycle Insurance?

Full-coverage motorcycle insurance may help cover damage to your bike, your medical costs and damage you may cause to others in an accident. It often includes comprehensive coverage, which can financially protect against fire, theft, vandalism or severe weather damage to your motorcycle. It also generally includes liability coverage for damage you may cause to third parties. Additionally, collision coverage can help pay for motorcycle repairs after a collision, regardless of fault.

Full coverage may also include personal injury protection or medical payments coverage, helping to cover medical expenses and sometimes lost wages, regardless of fault. Optional features like uninsured/underinsured motorist coverage can offer financial protection in accidents involving drivers without adequate insurance.

Should I Get Liability-only or Full-coverage Motorcycle Insurance?

Consider the following factors when choosing between liability-only and full-coverage motorcycle insurance:

• Your motorcycle’s value—If you have a valuable motorcycle, full coverage can offer peace of mind by financially safeguarding your investment.

• Budget—Consider your budget and how much you’re willing to spend on insurance premiums. Liability-only insurance is more affordable but offers less protection.

• Risk tolerance—Evaluate your risk tolerance. Decide if you are comfortable with the potential financial burden of repairing or replacing your motorcycle if it’s damaged or stolen.

Can You Upgrade to Full-coverage Motorcycle Insurance?

You can typically switch from liability-only to full-motorcycle coverage using the following process:

1. Contact your insurance company. Reach out to your insurance company or agent. Let them know you want to upgrade from liability-only to full-coverage motorcycle insurance. They will guide you through the necessary steps.
2. Consider the timing. Some insurers allow changes during your policy term, while others may require you to wait until renewal. Ask about any associated fees or adjustments to your premium.
3. Review the details. Understand what full coverage includes (e.g., comprehensive, collision, personal injury protection). Make sure it aligns with your needs and budget.
4. Adjust your policy. Once you’ve decided, your insurer will update your policy accordingly. They’ll provide you with the new coverage details and any changes in premium.

Motorcycle Insurance in Katy, TX

Contact TS Insurance today to discuss your motorcycle insurance needs. We help you decide which coverage is right for your situation.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.