What are the Motorcycle Insurance Requirements?

Riding a motorcycle on a nice day can be a very fun and exhilarating activity. While a motorcycle is a great recreational vehicle and mode of transportation, it also is a valuable asset that needs to be properly covered by insurance. For those that live in the Scotia, NY area, as well as other areas of state, there are minimum motorcycle insurance requirements that need to be followed.

Property Damage

When you are looking for a new insurance policy in the state of New York, the first type of coverage that you will need to have is property damage insurance coverage. In the state of New York, the minimum requirement is $10,000 for property damage for every single accident. This will provide coverage to the other party in the event that you are found at fault in an accident.

Bodily Injury Coverage

When you are looking to build a motorcycle insurance policy is compliant with state requirements, you will also need to have bodily injury coverage. In the state of New York, you will need to have minimum requirements of at least $25,000 per person and $50,000 per accident. You also need to have an additional level of coverage of $50,000 per person and $100,000 for an accident in which two or more people are involved.

Additional Requirements

While you following the state requirements are important, you also need to make sure you are in compliance with your motorcycle lender requirements.  Your motorcycle lender may also require collision and comprehensive coverage. 

For those that are in the Scotia, NY area, finding the right insurance company is very important. One insurance company that could provide you with valuable insight into your needs is the DePaulo Agency. The DePaulo Agency will be able to help you better understand your insurance needs and get you into the right policy for your situation.