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Insuring Motorcycles is About More than Just Two Wheels

There are over 8 million motorcycles registered in the U.S., and many of those are considered more than just a mode of transportation by their owners – they’re a lifestyle. But motorcycles also inherently have some greater risks than other vehicles, and they’re not all safety based. Let’s take a look at some of the issues to consider when considering motorcycle insurance.

Most states, including Tennessee, have minimum limits for motorcycle insurance coverage. In Tennessee, those limits are:

  • $25,000 for per-person bodily injury liability limits
  • $50,000 for per-accident bodily injury liability
  • $15,000 for property damage liability (increasing to $25,000 on 1/1/23)

With that in mind, you have a starting point for your coverage needs. But if your motorcycle is your “baby”, there are more factors to consider:

Replacement Cost – Some policies will not cover your bike’s repairs to pre-accident conditions, and/or may depreciate the parts’ value. Those with custom parts may be especially affected by this.

Total Loss Replacement – Not all policies will provide coverage to replace your bike with equal value in the case of a total loss. This coverage can make a huge difference in a “totaled” claim scenario.

Personal Contents – Are you a road warrior with valuable possessions traveling with you? Not all policies provide the coverage you may need if these items are damaged or stolen.

Medical Liability – Above minimum limits, covering medical payments for larger recovery or treatment costs are definitely something to consider. Some policies even offer a “death benefit” should the worst-case scenario occur.

Agreed Value – Got a custom or vintage motorcycle? You may be better off with a policy that determines an agreed value with you for the bike if there’s a covered loss.

As you can see, motorcycle insurance isn’t as simple as it may seem. Contact Brandon Patterson at 865.453.1414 or email and he’ll be happy to provide you info on the coverage you need before you ride.