Quick Guide to Motorcycle Insurance

Going for an afternoon ride on your motorcycle with the sun shining down on you and the wind blowing through your hair can be fun and relaxing. Unfortunately, too many motorcycles ride to end in pain or tragedy. If you own a motorcycle, it is important to make sure you are covered. Before you take your next ride through Longmont, CO, take a look at this guide to ensure you have the coverage you need.

Requirements

Colorado requires a minimum of the same amount of liability coverage on your motorcycle as it does on your automobile:

  • $25,000 per person for bodily injury
  • $50,000 per accident for bodily injury
  • $15,000 per accident for property damage

Additional Coverage Options

With the danger, motorcyclists face, liability might not be enough to protect you. The following are additional coverage options to consider. If you have questions about any of them, give 1st American Insurance Agency a call.

Collision

Covers damage done to your motorcycle due to a collision with another vehicle.

Comprehensive

Covers damage done to the motorcycle by something besides a collision and theft.

Personal Injury Protection

Covers medical bills due to injuries that you, pedestrians, or your passenger no matter who is at fault.

Uninsured/underinsured

Covers injuries caused by a driver who has no insurance or not enough insurance. 

Lay-Up Coverage

Lay-up periods refer to the times when a motorcycle is put away, for instance in the winter. During that time, most motorcycle owners prefer to have only lay-up coverage. It covers any theft or things that happen during storage.

If you are looking for new motorcycle insurance coverage or would like to improve the coverage you currently have, give 1st American Insurance Agency of Longmont, CO a call or stop by today!

 

When is commercial insurance required?

General liability insurance is not required to start a business in Longmont, CO. You may, however, want to consider purchasing a policy since the likelihood of an at-fault incident occurring increases with every operational day. General liability is an element of commercial insurance that is optional. There are, however, times when you must purchase insurance for your business to remain in compliance with state and federal laws. The agents at 1st American Insurance Agency can help you find the commercial insurance policy that works for your company. Read on to learn when you must purchase a commercial indemnity plan. 

When is commercial insurance required?

Commercial insurance is required when you have employees. You need worker’s compensation insurance to cover an employee’s injuries on the worksite or offsite but during the commission of things related to the job. Worker’s compensation protects the employee as well as the business owner because it limits the level of liability that a company is responsible for when an incident occurs. Worker’s compensation is required even if you work from home with one employee as your assistant. 

Commercial insurance is also necessary when you use automobiles to carry out the duties of your company in Longmont, CO. A traditional auto insurance plan does not provide enough coverage for your fleet, which is why you need a commercial plan that has policy limits of at least $1 million. There are instances where a discount is available to companies with dozens of vehicles. You, of course, need to speak with an agent at 1st American Insurance Agency to determine how much commercial auto insurance you need. 

Call us today!

Commercial insurance is not always required in Longmont. You should, however, consider an indemnity plan that safeguards your company against lawsuits when incidents occur. Call one of our agents today to discuss possible options that protect your business and personal assets!