Millions of people enjoy riding motorcycles. However, these are high-risk assets. One wrong turn or bump could lead to deadly consequences. Motorcycle insurance is an asset that can cover you if an emergency arises. However, there could be complications if you don’t have a license.
Insurance companies may classify you as a high-risk driver because of your unlicensed status. Motorcycle licenses are certifications. You can also inquire about an endorsement that provides the same privileges as a motorcycle license. Establishing your premium may be difficult if you don’t have a license. Some carriers expect you to have a state-issued ID to qualify for coverage.
There are a few adjustments you can make to increase your chances of obtaining coverage. Consider excluding yourself. While you won’t be covered for riding your motorcycle, you can avoid being labeled a licensed driver. If you regain your license, you can update your info. You also have the option to name a primary driver. This allows the insurer to look at their driving record to help determine your rate. If your license is suspended, you can wait until it is reinstated. You may pay a slightly higher premium because of the lapse in coverage, but finding a policy will be less stressful.
- Is Coverage Necessary?
Motorcycle insurance is essential even if you don’t have a license or have purchased a motorcycle. Insurance is vital even if you purchased the motorcycle for someone else to use. Insurance is also essential if you own a classic motorcycle.
- Motorcycle Insurance Costs
The policy amount depends on why you don’t have a license and the primary rider insured on the policy. If you are the main rider on the policy, you will have to pay higher premiums because of your uninsured status. Research shows that high-risk riders can see an increase of 50% in their premiums based on their driving records. If you purchase coverage for someone else to ride your motorcycle, you can enjoy more standard rates.
- Key Motorcycle Insurance Coverages
The amount of insurance coverage you need depends on how you plan to use the motorcycle. If your license was suspended, you might be able to add minimum liability coverage to adhere to the state requirements. If you are purchasing coverage for another rider, consider adding extra coverage. Bodily injury coverage protects you if your motorcycle is responsible for injuring someone. The coverage will pay for the injured party’s medical treatment. If your motorcycle damages property or an object, property damage liability coverage can protect your finances. Similar to auto insurance, collision insurance covers the repair cost if your motorcycle is involved in an accident. Comprehensive coverage covers your motorcycle if stolen, vandalized, or damaged due to severe weather.
- Things to Consider
Keep in mind that you can get insurance without a license, but you won’t be able to ride the motorcycle legally. You will be opening yourself up to potential consequences if you are pulled over. If you exclude yourself from the policy, you would be financially responsible for covering any damages to your motorcycle if you are involved in an accident. If you plan to add a young driver to your policy, that may alter your insurance premiums. You can explore different situations to see how they may increase your rate. It may make more sense to add a primary driver and keep the young driver on your policy as an extra. Contact your carrier if you plan to make any changes to your policy.
Consult With Weaver & Associates
While finding motorcycle coverage without insurance can be complicated, it’s not impossible. We recommend that you exclude yourself from the policy. If you have more questions about your coverage, contact the experts at Weaver & Associates. We will assist you in finding the best coverage policy for your needs.