FRIDAY, JULY 17, 2020
 You might also own more than one motorcycle. Lucky for you, it is possible to insure multiple bikes under the same motorcycle insurance. A multi-bike policy is a great way to cover several bikes conveniently. When you do, you can buy cohesive coverage and even achieve premium savings.
Why All Bikers Need Insurance
Most states to require bikers to carry motorcycle insurance. By buying a multi-bike policy, you can cover several bikes at once. The policy will compensate the motorcycle owner in case a wreck or other hazard damages the bike. It can offer several types of coverage:
- Liability insurance pays for damage the insured causes to other people and property if an accident is the biker’s fault.
- Physical damage insurance pays for damage to the bike following wrecks or other hazards.
- Medical payments insurance applies to injury costs the biker or their passengers sustain.
- Uninsured motorist coverage pays if an accident is another party’s fault, but they lack liability insurance to pay for the insured's damage.
Keep in mind, however, that you might have to buy higher policy limits and additional coverage. A basic policy might not adequately address all the bike’s features and liabilities. You might need higher coverage limits and special coverage might apply to unique features like saddle bags, helmets and accessories.
The Convenience of a Multi-Bike Policy
You might think that a multi-bike policy won't offer each bike adequate coverage. Motorcycle insurance needs to fit the bike, after all. However, a multi-bike policy will make it easier for you to apply coverage to all the bikes under your roof.
- You can choose to add multiple riders to your policy. The policy will apply the same limits to each qualifying rider.
- The coverage will apply regardless of which bike you ride.
- The policy can address the value of each bike in turn. The most expensive bike and the bike of least value can still have coverage.
- You can usually add specific coverage endorsements for unique accessories on each bike.
By insuring multiple bikes on the same policy, you might save on your premiums. Insurers often offer discounts because there is less cost risk for multi-bike as opposed to single-bike policies.
Limitations might exist on your multi-bike coverage, however. For example, your policy might not cover specialty bikes, antiques, mopeds or scooters. Some policies even set a maximum number of bikes they will insure. Still, your agent can help you find a solution if you disclose exactly which bikes need coverage.
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