Colorado Motorcycle Insurance Owning or Riding Motor Cycle Should Have Insurance It Is Compulsory
If you own or ride a motorcycle in Colorado, having insurance isn't just a good idea—it's legally required. Understanding the state's specific requirements and available coverage options is crucial to protect yourself, your passengers, and your investment on the road.
What Should Your Colorado Motorcycle Insurance Cover?
When choosing a motorcycle insurance policy in Colorado, consider the following coverage options to ensure comprehensive protection:
- Coverage for the driver, passenger, and the motorcycle itself.
- Motorcycle accessories coverage, often starting around $3,000 with options to increase up to $20,000.
- Daily transportation costs (e.g., $25 per day) in case your motorcycle is stolen.
- Coverage for safety helmets (up to $500) and safety apparel (up to $1,000).
What Factors Influence Motorcycle Insurance Premiums?
Several factors determine the cost of your motorcycle insurance premium. Understanding these can help you find the most advantageous rates:
- Motorcycle Specifications: This includes the engine displacement size (in cubic centimeters), the type of motorcycle (e.g., cruiser, sport bike), and the brand.
- Rider Profile: Your age, driving record, and overall driving experience play a significant role.
- Storage and Usage: Whether your bike is garaged, your primary location, and the estimated number of miles you plan to drive weekly can all impact your rates.
How to Get Motorcycle Insurance in Colorado
Securing motorcycle insurance in Colorado is a straightforward process. While the state mandates a minimum amount of liability coverage to cover damages you cause to others, it's always wise to discuss additional coverage options for yourself and your passengers with your insurance agent.
Motorcycle insurance is widely available from many major auto insurers, often offered as a separate policy or an endorsement to your existing personal automobile policy. Many insurance companies also provide discounts, typically ranging from 10% to 15%, for riders who have successfully completed training courses like the Motorcycle Safety Foundation (MSF) rider course.
What is the Motorcycle Safety Foundation (MSF)?
The Motorcycle Safety Foundation (MSF) offers training courses designed to enhance rider skills and safety. Completing an MSF course can benefit you in several ways:
- License Endorsement: Upon successful completion, presenting your MSF certification card at a Colorado Driver's License office can waive the written and drive tests required to add a motorcycle endorsement to your license. You simply pay the associated fee.
- Insurance Discounts: As mentioned, many insurers offer discounts for MSF graduates.
- Requirements for Minors: Colorado law stipulates that minors under 18 must hold a motorcycle instruction permit for 12 months before adding the motorcycle endorsement to their license. Additionally, minors under 16 must always be under the direct supervision of an MSF motorcycle instructor while operating a motorcycle.
Understanding Colorado's Minimum Motorcycle Insurance Requirements
Colorado law mandates specific minimum liability coverages for motorcycle insurance to ensure you can cover damages you might cause to others. These minimums are:
Bodily Injury Coverage
The required minimum bodily injury coverage in Colorado is $25,000 per person injured in any one accident and $50,000 for all persons injured in any one accident.
Property Damage Coverage
A minimum of $25,000 for damage to or destruction of another person's property in any one accident is required.
Uninsured Motorist (UM) Coverage
Uninsured Motorist (UM) coverage protects you if you're involved in an accident with a driver who doesn't have insurance or doesn't have enough insurance. In Colorado, if you elect to purchase UM coverage, it must be purchased for at least the minimum amount of bodily injury coverage required by the state. If you choose to purchase higher bodily injury coverage limits, your insurance company is generally only required to provide UM limits up to the bodily injury coverage you purchased, or $100,000 per person and $300,000 per accident, whichever is less.
Frequently Asked Questions
Is motorcycle insurance mandatory in Colorado?
Yes, if you own or ride a motorcycle in Colorado, having insurance is legally required.
What are the minimum liability coverage amounts required in Colorado?
Colorado requires a minimum of $25,000 per person for bodily injury, $50,000 per accident for bodily injury, and $25,000 for property damage.
Can completing an MSF course help me get my motorcycle license?
Yes, successfully completing a Motorcycle Safety Foundation (MSF) course can waive the written and drive tests when adding a motorcycle endorsement to your Colorado driver's license.
Do insurance companies offer discounts for MSF graduates?
Many insurance companies offer discounts, typically ranging from 10% to 15%, for riders who have completed a Motorcycle Safety Foundation (MSF) rider course.