If you have a motorcycle or you plan on buying one, you should know a few things about motorcycle insurance. Take a minute to look at this short list of questions and answers to learn the basics about motorcycle insurance before you buy a bike or take yours out for a ride.
Do I Need Motorcycle Insurance?
Yes. If you own a motorcycle and you ride it anywhere in Wisconsin, you must have motorcycle insurance. A minimum amount of coverage as required by law, as it is for all other motorized vehicles. Wisconsin state law requires insurance coverage of $25,000/$50,000 for bodily injury and $10,000 for property damage. This is sometimes expressed at 25/50/10. While this is the minimum coverage required by law, we strongly recommend higher limits.
What Is the Minimum Amount of Motorcycle Insurance Required in Wisconsin?
The minimum Bodily Injury coverage required by Wisconsin state law is a split limit of $25,000/$50,000. “Split limit” refers to the two limits included in the coverage. The first limit (in this case $25,000) refers to the amount of coverage per individual. In other words, if you caused bodily injury to someone and you were found at fault, your insurance would cover up to $25,000 in damages. The second limit (in this case $50,000) refers to the total amount of coverage per accident. So in essence, 25/50 coverage would only cover damages for up to two people at $25,000 each, three people at $16,666.66 each, four people at $12,500 each, etc.
Wisconsin law also requires at least $10,000 of coverage for Property Damage. Property Damage is damage caused by your motorcycle to the property of others. Most often, in the case of a two-vehicle accident, it would be the damage to the other party’s vehicle or motorcycle. However, it could also be used to pay for the damages to someone’s property such as a fence or their house.
Do I Need More Motorcycle Insurance than the State Minimum Amount?
While the state minimum limits are 25/50/10, it is not enough coverage for most everyone. It is not uncommon to hear of court awards for bodily injury to far exceed $250,000 or more. Because of this, it is quite common for people to carry 10-times the minimum amount of coverage (250/500), in addition to a 1-million dollar umbrella policy or higher.
In addition to higher limits for BI and PD, we recommend additional coverages as well including:
- Uninsured Motorists
- Underinsured Motorists
- Medical Payment
- Roadside Assistance
Are Modifications and Customizations Covered by Insurance?
Any improvements or alterations to the motorcycle beyond the original manufacturer specifications may not be covered without buying Additional Accessory Coverage
This includes changes that alter your motorcycle’s appearance or performance. Examples include custom paint, aftermarket added chrome, luggage racks, or saddlebags. If you’ve made modifications to your motorcycle, or you plan to make some alterations to it, give us a call to be sure you get the additional coverage you need.
Can I Drop My Insurance When My Cycle Is in Storage for the Winter?
You could, but It’s probably not a good idea Doing this won’t likely save you any money. Any premiums that are refunded will likely be offset by higher premiums next year due to the loss of a continuous coverage discount, or sometimes referred to as a renewal discount. Another risk of dropping coverage during the winter is forgetting to add it back on in the spring.
We hope this cleared things up a bit about motorcycle insurance requirements in Wisconsin. If you still have questions, or would like a quote for your motorcycle, give us a call. We’ll be happy to answer your questions and if you like, find the coverage you need at a great price.