There are a few things you need to know about motorcycle insurance requirements in Colorado. First, all riders must have liability insurance to operate their bike legally on public roads. Liability coverage protects you financially if you are found at fault for an accident. It will cover the cost of repairing property damage or medical bills if someone is injured.
In addition, the minimum required coverage may not be enough to protect your financial investment in a crash. Alliance Insurance of the Rockies strives to find Colorado Springs motorcyclists the right coverage to protect you in an emergency. Keep reading to learn about Colorado motorcycle insurance requirements, and contact our team if you have questions about your coverage.
Minimum Required Coverage in Colorado
Colorado’s insurance requirements are fairly simple. The minimum amount of liability insurance in Colorado for all vehicle types is $25,000 per person/$50,000 per accident for bodily injury as well as $15,000 for property damage. However, we highly recommend that riders purchase more than the minimum amount to protect themselves in the event of an accident.
Recommended Motorcycle Insurance Coverage
You can choose from two types of motorcycle insurance coverage in Colorado: full coverage and liability only. Colorado law does not require you to have full coverage. However, it will protect your bike from damage due to an accident, theft, or another covered event. It will also provide liability coverage if you cause an accident.
Liability-only insurance only provides coverage for the other party involved in an accident if you are at fault. Full coverage is a better option if you are not comfortable paying to repair or replace your bike. There are a few optional motorcycle insurance coverages that riders in Colorado may want to consider purchasing, including:
- Uninsured Motorist Coverage protects you if you are in an accident with a rider who does not have insurance.
- Accessory Coverage covers the cost of replacing any aftermarket accessories damaged in an accident.
- Personal Injury Coverage covers the cost of your medical bills if you are injured.
- Roadside Assistance covers having your bike towed or repaired if you break down.
How Common are Motorcycle Accidents in Colorado?
Now, you may wonder if investing in full coverage for your motorcycle is worth it. But even if you ride carefully, you may not always be able to avoid an accident. According to a report by the Colorado State Patrol, there were over 2200 motorcycle crashes in Colorado in a single year. If you are in a crash, you don’t want to worry about paying your medical bills or repairing your bike.
Colorado Motorcycle Laws and Regulations
In addition to minimum insurance requirements, there are a few other laws and regulations that you should be aware of before hitting the open road. In Colorado, you must wear eye protection while operating a motorcycle on a public highway. Riders under 18 must also wear a DOT-approved helmet.
You must also register your bike with the DMV and have a valid motorcycle license. If you are caught riding without insurance or a valid license, you may be subject to fines or other penalties.
Can Someone Else Ride My Motorcycle in Colorado?
If you allow someone else to operate your motorcycle, they must have a valid license and insurance. If they crash while riding your bike, your insurance will be the primary coverage. Your rates could increase or your policy could be canceled if your friend is at fault.
How much is Motorcycle Insurance?
Many factors affect the cost of your motorcycle insurance, including your bike’s make and model, your riding history, and the amount of coverage you purchase. According to Business Insider, however, motorcycle insurance in Colorado costs about $475 per year. This is just a general estimate, so talk to a local insurance broker or request multiple quotes from different insurers to find the best rate and coverage for your situation.
Get Motorcycle Insurance with Alliance Insurance of the Rockies
Contact us today if you just purchased a motorcycle or are concerned about your current coverage. As local insurance brokers, we have access to the best national plans and can help you find coverage and rates that will work for you. Our mission is to protect individuals in our community from the financial devastation of being underinsured. Whether you’re interested in liability-only or full-coverage, we’ll make insuring your motorcycle headache-free.