Last year, the Ohio State Patrol recorded over 4,000 accidents involving motorcycles in Ohio. Since motorcyclists are far more likely to be severely injured in an accident than cars, it’s critical that anyone operating a motorcycle has all the necessary protections in place.
When most people think of motorcycle protection, they consider helmets, protective clothing, proper driving technique, and a bike in good working condition. Those are all important, but so is having the right insurance policy. Motorcycle insurance can provide invaluable legal and financial protection in the case of an incident.
To legally ride a motorcycle in Ohio, the state requires you to prove financial responsibility. There are a variety of ways to do that, but the most common way is to get a motorcycle insurance policy.
While the Government of Ohio has minimum requirements for motorcyclists, there are many reasons to get a comprehensive policy tailored to your unique circumstances. Those reasons include a higher likelihood of vehicle damage, as well as possible bodily injury to the driver and passenger.
Wallace & Turner Insurance offers a range of affordable policy options for motorcyclists in Ohio. Contact our Springfield and Urbana agents for more information, and keep reading to learn more about motorcycle insurance in Ohio.
What Does Motorcycle Insurance Cover?
Motorcycle insurance policies can cover a variety of needs, but here are a few of the most common.
Collision—If you get into an accident with another motor vehicle, having this on your policy will cover you for damages incurred on your motorcycle.
Bodily injury liability—In the case of an incident in which you are responsible for injuring or killing another person while operating your motorcycle, this will provide you with coverage, including legal counsel in the case of a lawsuit.
Medical bills and personal injury—If you or your passenger are injured while operating your motorcycle, this covers medical payments, including hospital stays.
Physical damage—This option provides coverage if your motorcycle is damaged by fire, theft, or vandalism while in use or in storage.
Uninsured motorist—If you are in an accident that is not your fault, having this on your policy provides you with protection if the other party is uninsured, underinsured, or has fled the scene without providing insurance information.
Property damage liability—This covers any damages to others’ property caused by your motorcycle, including legal counsel in the case of a lawsuit.
Accessories and gear—This covers damage or loss of your equipment including saddlebags, backrests, seats, and more.
Ohio Motorcycle Insurance: Minimum State Requirements
It is illegal to operate a motorcycle in the state of Ohio without providing proof of financial responsibility. Proof can be provided in the following ways:
An insurance policy—Your policy must provide coverage that meets the minimum state standards outlined in the section below.
An insurance ID card—Your policy must provide coverage that meets the minimum state standards outlined in the section below.
Surety bond—The value must be at least $30,000 from an authorized surety or insurance provider.
Real estate secured BMV bond—The value must be at least $60,000 in equity.
BMV government bond certificate—The certificate must prove money or government bonds that equal at least $30,000.
BMV self-insurance certificate—This option is available to individuals or businesses in possession of at least 26 vehicles.
Those who don’t comply with the state requirements will temporarily lose their license and will be subject to fees and penalties.
The minimum state requirements for motorcycle insurance are as follows:
Auto liability insurance must amount to at least $25,000. This includes coverage for bodily injury for a single driver. Coverage must be $50,000 for over one person. Coverage must also include $25,000 to cover damages to property.
Additional coverage can be included in the policy at the insurer’s discretion but is not legally required by the State of Ohio.
More Motorcycle Coverage: Collision Coverage
The cost to repair your motorcycle after a collision can be thousands of dollars. If you want your insurance provider to cover the cost of damages to your motorcycle in the case of a collision, you need to add collision coverage to your policy.
Collision coverage can provide protection to your motorcycle in the case of mechanical and aesthetic damage incurred due to an accident. It will typically cover the appraised value of the motorcycle pre-accident, minus your deductible.
Uninsured Motorist Coverage
In a study conducted by the Insurance Research Council, 12.5% of motorists in Ohio didn’t have insurance. In the case of an at-fault collision with one of these drivers, you could be responsible for paying thousands of dollars of medical and damage expenses. That’s why we recommend including uninsured motorist coverage in your policy.
If you’re involved in an incident with an uninsured or underinsured at-fault driver, uninsured motorist coverage will protect you. This can also protect you in the event of a hit-and-run where the at-fault driver is not held accountable for the accident.
Depending on the policy, uninsured motorist coverage can include protection for damage to your motor vehicle, medical bills including hospital stays, property damage, and expenses for passenger injury. This insurance will prevent you from paying for an incident where someone else was at-fault.
If you want to learn more about additional coverages for your motorcycle policy, contact one of our agents.
Find Ohio Motorcycle Insurance
Having the right motorcycle insurance policy can make a big difference in your ability to physically and financially recover from an incident. No one wants to think of the worst-case scenario, but we’re here to make it easier.
At Wallace & Turner Insurance, we are committed to protecting what matters most to you. As one of the oldest and most trusted independent insurance agencies in Ohio, we are dedicated to providing the best insurance coverage and premiums to our clients in Springfield and Urbana.
Contact us to learn more about how our coverage can provide you and your motorcycle with protection so you can focus on doing more of what you love.