A Guide to Motorcycle Insurance

Motorcycle insurance in Centennial, CO is required. In order to be in compliance with the law, you must carry $50,000 of bodily injury liability insurance per accident and $15,000 for property damage liability per accident.

Why You Need Motorcycle Insurance

Besides being required, motorcycle insurance can help protect you if you get into an accident There are different kinds of motorcycle insurance, besides just liability, that can also protect your bike. Collision coverage will help with the cost to repair your bike if you get into an accident. Comprehensive coverage will help with the cost to repair or replace your bike if it is damaged in an event that is not an accident, or if it’s stolen. Uninsured and underinsured motorist coverage will help if you are in an accident that isn’t your fault but the driver doesn’t have insurance or not enough insurance. Optional equipment coverage can help if you are adding personal touches to your bike to enhance the riding experience. Medical payments coverage can help if you don’t have adequate health insurance or a plan that will cover your needs. This type of coverage will kick in for injuries regardless of who is at fault for the accident. An agent at Compass Insurance can help you determine which motorcycle insurance is best for your needs.

Factors That Impact the Cost of Motorcycle Coverage

The model and make of your bike can affect coverage. In order to lower premiums, have a good credit score along with good accident records. One of the most significant factors when determining cost is your age. Statistics show younger riders are more likely to get into an accident, so premiums can be higher. The security measures you take to protect your motorcycle will also play a role. Where you store your motorcycle and if there are anti-theft measures can lower or raise premiums.

Contact Compass Insurance, serving Centennial, CO, to get a quote on motorcycle insurance. 

What is Toy Insurance?

Adults have toys too, though they may vary greatly from children’s toys when it comes to function and size. Machinery and vehicles like motorcycles, snowmobiles, boats, classic cars, ATVs, RVs, etc. may be classified as "toys" instead of regular vehicles, though that doesn’t mean they should not be protected in the traditional sense. 

We’re talking, of course, about toy insurance. If you live in the Centennial, CO area. Compass Insurance is here to help you and your toys get the coverage you need. After all, you’ll want to be able to play with them for a long time!

But what exactly defines "toy insurance"?

The Basics

Vehicles and craft machinery may qualify for toy insurance if they are used for strictly recreational use. This is especially true when they are not used for regular driving purposes and are subject to frequent off-road speeding and stunts. 

Toy insurance is like other forms of vehicle insurance in that it keeps both you and your "toy" covered in the event of an incident. 

Types of Coverage

Now, the exact kind of policy you need will depend on the toy vehicle itself and what kind of risks there are. For example, insurance coverage between an ATV and a speedboat are naturally going to have a lot of difference in the details. That said, the general areas of coverage are going to be the following:

Liability– Applies to bodily injury and property damage.

Comprehensive: Covers non-collision forms of damage, such as that from theft and vandalism or fire.

Collision: Covers damage caused by a collision or "accident".

Underinsured / Uninsured: Provides coverage in the event that the other party involved does not have adequate coverage. 

Taking the Next Step

Whether you’re ready to start exploring your toy insurance options or simply want to learn more, contact the experts at Compass Insurance today! Serving clients in the Centennial, CO area and beyond, we’re here to help!