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What is Included in a Motorcycle Insurance Policy?

Motorcycle Insurance Policy

Spending a nice afternoon on a long motorcycle ride can be fun and exciting.  While a motorcycle is a lot of fun to ride, it is also an expensive asset that needs to be properly covered by insurance.  For those that are in Colorado, having a full motorcycle insurance policy can be a great option.  A motorcycle insurance policy will provide you with several different types of coverage.

Motorcycle Insurance Policy & Liability Coverage

The first type of coverage that will be included in your motorcycle insurance policy is liability insurance coverage. Liability coverage will provide you with financial coverage in the event you are found liable in an accident.  In the state of Colorado, you are required to have minimum motorcycle liability coverage of $15,000 per accident in property damage and $25,000 per person and $50,000 per accident in bodily injury coverage. Liability coverage will only provide coverage for the other party’s expenses.

Collision and Comprehensive Coverage

When you own a motorcycle, it is also likely a good idea for you to have collision and comprehensive insurance coverage. Collision and comprehensive insurance coverage will provide you with coverage in the event you are in an accident with an uninsured driver, if your vehicle is stolen or damaged by storm, or if you are in an accident involving an animal.  In many cases, having collision and comprehensive coverage will be a requirement of a lender if you have a loan on your motorcycle.

For those that are in the Broomfield, CO area and are in need of a motorcycle insurance policy, contacting Aspen Gold Insurance Brokers could be a great option.  Aspen Gold Insurance Brokers can help you to better understand your insurance needs and help you to get into a great policy today.

To read more about motorcycle insurance information, see our other blogs on motorcycle insurance policies.

Coverage Options for Colorado Motorcycle Insurance

Colorado Motorcycle Insurance

While Colorado riders are required to have Colorado motorcycle insurance, it may be advisable to get additional coverage so you can be protected from any losses that the minimums won’t be able to help you with. Many things can happen while you’re on the road, but liability coverage can only get you so far. Any additional amounts that are left over after the minimum amounts will be your responsibility if you’re at fault, and it could result in severe financial and even legal liabilities. That’s why you should look into some additional coverage for your motorcycle insurance policy.

Additional Coverage Available for Colorado Riders

There are several options for Colorado riders who want to purchase additional coverage, and some of them may include:

Collision Coverage – Covers your bike if it was involved in an accident regardless of the circumstances, but it may not necessarily cover any losses from an uninsured or underinsured motorist.

• Uninsured/Underinsured Motorist Coverage – Covers your bike if you were in an accident that involves an uninsured or underinsured motorist who was at fault.

Comprehensive Coverage – Covers your bike from any losses that resulted from any damage that has been caused by a fire, water, or vandalism. It can even cover your bike if it has been stolen.

Bodily Injury Coverage – Covers any costs associated with bodily injury related to an accident for which you’re at fault, and it will cover any passenger who rides on your bike.

Medical Payments Coverage – Covers any medical costs and funeral expenses associated with an accident for which you’re at fault.

If you want to find out more information about what’s available in the State of Colorado, be sure to speak to an agent about your specific needs.

Finding the Best Motorcycle Insurance Policy in Broomfield, CO

If you want to find the best Colorado motorcycle insurance policy in Broomfield, CO, you should get a hold of Aspen Gold Insurance Brokers. We have a team of expert agents who can help you get the coverage you need, and we’ll be able to find a policy that you can afford. Be sure to get in touch with Aspen Gold Insurance Brokers in Broomfield, CO today!