Some people think that insurance for motorcycles and autos is one and the same, but there are marked differences. That is because any insurance policy that is issued is about costs and risks. The risk involved in riding a motorcycle is increased based on the design of this form of transport.
Why Policies for Motorcycles and Cars Vary
While the cost for a motorcycle is less than a car, you can also sustain more damage to your motorcycle if it is involved in an accident. That is why motorcycle insurance policies are not designed like the policies which cover cars.
Minimum Liability Requirements
In North Carolina, motorcycle insurance policies are governed by the state’s mandatory insurance legislation. Therefore, all motorcycle drivers must obtain liability motorcycle insurance. The mandatory requirements are as follows:
* $30,000 for bodily injuries in a single accident
* $60,000 for bodily injuries caused to more than one person in one accident
* $25,000 for property damage per accident
Additional Coverage: What You May Need
When you are obtaining quotes for motorcycle insurance policies, keep in mind that the above list only covers the minimum requirements. You may need additional coverage in the form of collision protection, comprehensive insurance, medical payments, or towing and labor.
Do Not Forget to Pay Your Premiums
It is also important to note that you should never permit your current coverage to lapse. When you do allow your coverage to lapse, your insurance company will notify the DMV. In turn, a bureaucratic form, numbered FS 5-7, is sent your way. If you ignore this form and notice, your plates are suspended for a period of 30 days. Other penalties are also imposed when you fail to maintain motorcycle coverage.
Stay Connected and Stay Insured
In order to make sure that you stay on top of your insurance needs, talk to an insurance professional at the Ewing Insurance Company. You can visit the insurer’s website online at the following link our website. Stay connected and stay insured by visiting the company’s website or giving the agency a call now at 704-861-0110. You can pay a visit to Facebook page for more information!
