From the San Juan Skyway to Black Canyon Run, the picturesque roads of Colorado are a draw for motorcycle enthusiasts all over the US. It is therefore little wonder that there are nearly 200,000 motorcycles registered in this state. If you are the owner of a bike, you need to cover it with motorcycle insurance.
When you are looking for the best and most affordable coverage, an independent agent can help. Contact an independent insurance agent near you to get more information and to start comparing customized quotes from some of the best motorcycle insurance companies in Colorado.
Is Motorcycle Insurance Required in Colorado?
Yes. Just like with car insurance, if you want to ride your bike around in Colorado, you will need to first make sure that it is covered by a suitable motorcycle insurance policy. In this state, your policy must meet or exceed the following coverage requirements:
- Bodily injury coverage per person: Minimum of $25,000
- Bodily injury liability coverage per incident: Minimum of $50,000
- Property damage liability coverage per incident: $15,000
All other coverage is optional.
Motorcycle insurance policies go with the bike. This means that if you are riding someone else’s motorcycle, your policy will not cover you. Rather, you will be covered by the policy held by the owner of that bike.
How Much Does Motorcycle Insurance Cost in Colorado?
The average cost of motorcycle insurance in Colorado is $602 a year. Of course, rates can vary from person to person because they are calculated on a case-by-case basis. Some of the factors that insurance companies may take into consideration when pricing your policy include:
- Details about the motorcycle you are insuring
- Your age, occupation, years of riding experience, and traffic citation history
- Your claims history and credit score
- Whether or not you qualify for any motorcycle insurance discounts
By obtaining customized quotes from a few different insurance companies, you can be certain that the policy you are choosing is offered at a competitive price. Independent agents make comparison shopping easy.
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What Does Motorcycle Insurance Cover in Colorado?
Motorcycle insurance is very similar to car insurance. In Colorado, riders are required to have liability insurance, but all other coverage is optional. You can expect a typical Colorado motorcycle insurance provider to offer the following coverage:
- Liability coverage: This is the only coverage that is required. It is designed to cover third-party injuries and property damage if you are responsible for a collision while out on your bike.
- Collision coverage: This is designed to cover the cost to repair or replace your motorcycle if it is damaged in a collision, regardless of fault. You can purchase either actual-value or replacement-value coverage to compensate you for your bike if it is totaled.
- Comprehensive insurance: This is designed to cover the cost to repair or replace your motorcycle if it is damaged in a non-collision event such as a flood or a tornado. It can also compensate you for your loss if your bike is stolen. As with collision insurance, you can purchase actual-value or replacement-value coverage.
- Medical payments coverage: This is designed to provide a limited amount of coverage (typically between $5,000 and $25,000) for medical treatments needed by you and/or your passenger if you are injured in a motorcycle accident. While this coverage is optional, you can only opt out of it if you do so in writing.
- Accessory coverage: This can cover any customized accessories or equipment that you have added to your bike. It increases your motorcycle's assessed value so if it is deemed a total loss following a covered event, you will be compensated for the extra money you have put into it.
- Uninsured motorist coverage: If an uninsured or underinsured driver hits your bike and causes you injuries, this can cover your medical treatments and associated costs without you needing to go through lengthy legal channels to collect what is owed to you.
- Towing and roadside assistance coverage: If your motorcycle becomes inoperable while out on the road, you will not need to worry about the cost of a tow or mechanical assistance when you have this optional coverage.
By reviewing each coverage option and looking at how much each would cost to add to your policy, you can best determine which are a good value for you.
How Can I Earn Discounts on My Motorcycle Insurance Premiums in Colorado?
Most motorcycle insurance providers in Colorado offer discount opportunities, some of which you may qualify for. Examples of discounts you may come across include rate reductions for:
- Passing a certified motorcycle safety course
- Being a member of a qualifying organization or riding association
- Owning your home
- Bundling your motorcycle insurance with other policies like home insurance or car insurance
- Paying your annual premium in full
A good insurance agent will help you take advantage of all the discount opportunities for which you qualify when shopping for the best motorcycle insurance policy to meet your coverage and budgetary needs.
How Can an Independent Agent in Colorado Help Find the Best Motorcycle Insurance?
Independent insurance agents provide professional, personalized service. These agents are not tied to a particular insurance provider, so they are free to shop around to find you a policy that includes all the coverage you want at the most competitive price.
Find an independent insurance agent near you to learn more. You can soon be comparing customized quotes from some of the best motorcycle insurance companies in Colorado.
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