(800) 253-1482Colorado Motorcycle Insurance
There isn’t any other feeling quite like hitting the open road on a motorcycle. Colorado provides plenty of breathtaking views that you can’t replicate anywhere else, making it a favorite among riders. But while taking in lush forests and stunning mountains is the goal, staying protected with motorcycle insurance in Colorado is imperative.
As enthralling as a run through the Mount Evans Scenic Byway may be, there are several risks that come along with riding. Risk is a part of the game and if you ride, you’re not one to shy away from it, but it’s also important to protect against losses and safeguard your finances.
Not only is Colorado motorcycle insurance required, but having the right policies is a great way to avoid paying out of pocket for losses including accidents, weather-related damage, and other perils that may come your way.
If you want an accurate, quick motorcycle insurance quote, give us a call. The team at Freedom Insurance Group is here to help with all of your coverage needs. Below, you can explore the many options available in The Centennial State for affordable coverage while you ride.
Do You Need Motorcycle Insurance in Colorado?
Yes, you must have motorcycle insurance in Colorado. Specifically, riders are required to maintain proof of liability coverage. In the Centennial State, liability coverage is required to help you restore the loss suffered by another after an accident. Here are the Colorado motorcycle insurance requirements all riders must maintain:
- $25,000 in bodily injury coverage per person
- $50,000 in total bodily injury coverage per accident
- $15,000 in property damage coverage per accident
The key here is to remember that while these coverages aim to help other motorists or riders restore their losses after an accident you’re at fault for, they don’t help restore your own losses. Furthermore, they don’t protect your motorcycle from non-accident-related losses.
Luckily, riders have plenty of coverage options that can help cover such issues. Some of the most common examples are collision insurance and comprehensive insurance. Together with liability coverage, they can provide a multi-policy approach known as “full coverage”.
You should also understand that while minimum liability coverage keeps you legal, it may not be enough protection after a major accident. Increasing your policy limits can help you avoid paying out of your own pockets, even when you have coverage.
At the end of the day, riders don’t need every single coverage but should have an adequate level of protection to protect against relevant risks. Doing so means you can find affordable coverage and protect against a major financial loss in the process.
How Much Is Motorcycle Insurance in Colorado?
On average, motorcycle insurance in Colorado costs riders around $30 to $60 per month. The amount you pay for coverage, however, will differ depending on a variety of factors including the amount of coverage you need, the type of motorcycle you ride, your age, and much more.
While the price of premiums will vary due to personal factors, reviewing the average cost of motorcycle insurance in Colorado can help riders understand several things about their coverage:
- If your coverage is far cheaper than the average cost, you may be underinsured. Being underinsured means you are more exposed to costly risks.
- Riders that are paying well over the average may either have too much coverage or be enrolled with the right policies, but the wrong company.
There’s no reason to overpay for Colorado motorcycle insurance, but it happens often. Yes, insurance companies are all looking at different factors to decide how much you’ll pay, but each brand does this differently.
Because each carrier assesses risks differently, you can expect to pay different prices for the same coverage simply depending on who your carrier is. Riders are advised to review their coverages at least annually to ensure that the price they are paying is the cheapest available.
Nevertheless, some of the factors that raise your rates are within your control, while others are out of your hands completely. Here are some of the most common reasons riders pay rising premiums for their motorcycle coverage:
- Age
- Where you live and how much you ride
- Your driving record
- The number of claims you’ve submitted (claims history)
- Your motorcycle’s age and body type
- The amount of coverage you need and the number of motorcycles you require coverage for
- Your policy’s deductible amount
- Where your motorcycle is stored
- Various factors including things such as your credit score
As a general rule, if you are a risker client to insure based on the above factors and more, you can expect to pay more for your coverage, and if you are less risky as a client, you will enjoy cheaper rates.
Optional Motorcycle Coverages for Colorado Riders
The best motorcycle insurance in Colorado is going to protect you from relevant risks to your finances and provide this protection at an affordable rate. Several coverage options are optional for riders, but they can help you protect yourself and your motorcycle in specific ways.
Many riders make the mistake of simply finding the cheapest motorcycle insurance Colorado insurers have to offer without looking at their specific needs. It’s unlikely and unreasonable for a rider to need every coverage, but if you only have the bare minimum, you can still put yourself at risk.
Looking at your personal factors and risks can help you assess which coverages are appropriate for your needs. We’ve already covered liability coverage, but here are some of the most common, predominant optional coverages available to riders:
Collision Coverage
Following an accident, there’s a good chance that you’ll need to restore your motorcycle in the aftermath. Liability coverage is great but it doesn’t cover your property damage. Collision coverage helps you restore losses to your motorbike, regardless of fault. Riders should note, however, that there is a deductible that must be paid before receiving reimbursement for damages.
Comprehensive Coverage
Riders have plenty of perils that can harm their motorcycles outside of an accident. Colorado is known for wildfires, wildlife, and flooding. Comprehensive coverage can help you protect against damage from such incidents and can even help you in the event of theft or vandalism. Just like collision coverage, however, there is a deductible.
Uninsured/Underinsured Motorist Coverage (UM/UIM)
If you are in an accident that someone else is at fault for, you’re going to need to take legal action in the event they don’t have insurance or don’t have enough. Otherwise, you’ll have to restore your losses on your own. UM/UIM is there for you when the other party doesn’t have adequate coverage or coverage at all. Provides reimbursement for both property damage and medical costs.
Motorcycle Roadside Assistance Coverage
It’s hard to imagine a worse feeling than having to deal with a roadside repair. Minor repairs can turn a relaxing ride into misery, but this coverage can help you get back on the road safely, and quicker, and even help with the expenses.
Towing and Labor Coverage
Unfortunately, some repairs are too large for a roadside fix. Towing and labor prices continue to climb and if you are in a particularly remote area, this can be a very sizable bill before your motorcycle is back in riding condition. Towing and labor coverage helps riders get their bikes to a shop without having to come up with a large amount of cash on the spot.
Added Equipment Coverage
Your bike is unlike any other and customizing it to fit your style is only natural. Riders that have custom accessories and equipment can feel shocked to realize that their other protections may not be enough to restore their losses. This coverage is here to help.
Gap Coverage
If you’re leasing a motorcycle or have purchased one through financing and it ends up being totaled or stolen, your bike may be gone, but your payments are not. You’ll need to have both collision and comprehensive coverages in order to enroll in gap insurance, but it can be a helpful protection, as it pays off your note following total losses.
Can You Get Motorcycle Insurance Without an Endorsement in CO?
Colorado motorcycle insurance laws dictate that all riders must have a motorcycle endorsement in addition to having coverage. So, if you’re in need of motorcycle insurance in Colorado, you’re also going to need to have a valid license with the right endorsement. Here’s what that looks like:
- Riders can add a motorcycle endorsement by passing the written exam, purchasing a motorcycle instruction permit, and then passing their scheduled motorcycle driver skills test.
- Alternatively, you can complete a Motorcycle Operator Safety Training (MOST) course, provide your original MOST license waiver card to the DMV, and purchase your new license while adding your endorsement.
Either way, it’s important to note that you must go in person to complete this task in Colorado. You can’t do it over the phone, online, or through the mail. There are also additional processes for minors and members of the military, including:
Minors
Riders that are under the age of 18 must purchase and maintain a motorcycle instruction permit for 12 months before an endorsement can be added to their license. For minors under the age of 16, operation must be performed under the direct supervision of a Motorcycle Safety Foundation (MSF) motorcycle instructor at all times.
Military Members
Out-of-state MSF cards aren’t acceptable in Colorado, except for those that are required on a military base. You also must have a valid military ID on you for this to be valid. Here are the types of acceptable motorcycle endorsements:
- M, allows riders to drive two and three-wheel motorcycles
- 3, allows riders to operate only motorcycles with three wheels
Can I Cancel Motorcycle Insurance in Winter?
Yes, there are times when you can cancel your motorcycle in the winter, but there’s a lot to consider. Often called a winter layup, having seasonal Colorado motorcycle insurance can make sense for some, but there are several considerations to be aware of:
- To start, these coverages may be available, but they aren’t offered by every carrier.
- If you are leasing your motorcycle or financing its purchase, you may not beagle to suspend coverage.
- Winter layup policies can come with penalties and fees. Yes, you can alter your coverage at any time, but some stipulations and restrictions may apply.
- While the average motorcycle insurance rates in Colorado continue to rise, for most riders, the rates remain far below national averages. Maintaining your policy helps keep you protected without breaking the bank.
- You never know. Weather patterns can change and if it’s a nice weekend to ride, you’ll want to have the right coverage to enjoy your motorcycle all year long.
Even if you don’t ride and your motorcycle is properly stored during the winter months, there are still threats that persist. Specifically, damage from snow, floods, fires, vandalism, or a loss from theft. Speaking with an insurance agent can help you determine whether or not suspending your coverage is the best move for you.
Does Colorado Motorcycle Insurance Cover Death?
Yes, liability coverage can protect in the unfortunate case that death occurs as the result of an accident. For riders, coverage offering $25,000 per person with up to $50,000 per accident is available. Of course, the cost of such incidents largely skew larger and may require larger policy limits, as a result, to avoid paying for the loss out of pocket.
How To Get a Quote on Motorcycle Insurance in Colorado
If you’re looking to protect yourself from what may come your way, contact us for a motorbike quote. Our agents work with more than 25 top-rated insurance providers to ensure that you receive reliable coverage at the lowest price available.
Because we have partnerships with so many top-rated providers, we can shop and compare your coverage needs among companies that will be there when you need them the most. Furthermore, you can be sure that you are receiving the lowest price for your Colorado motorcycle insurance policy.
Every rider’s risks are different and they deserve a policy that reflects these differences. No matter what your needs are, we offer motorcycle insurance in Colorado that is cheap without cutting corners around your protection needs. Give us a call today!
