Yes, motorcycles in Montana are not obligated to meet motor vehicle insurance requirements.
You’re not compelled to obtain a policy for bike registration or riding.
PHOTO Courtesy| Freepik
However, it’s crucial to recognise that opting for this coverage doesn’t diminish its significant advantages.
In the event of an accident caused while riding your motorcycle, you may be liable for others’ medical expenses and property damage, leading to substantial financial responsibilities.
Minimum Motorcycle Insurance Requirements in Montana
In Montana, you’re not obligated to have motorcycle insurance, but if you choose to buy a policy, it must adhere to the same minimum coverage standards as an automobile. These include:
– $25,000 for death or bodily injury to one person
– $50,000 for death or bodily injury to two or more persons
– $10,000 for property damage
However, it’s essential to note that this is solely liability coverage, leaving several gaps in protection. It only addresses your liability in the event of an accident.
Cost of Motorcycle Insurance in Montana
The annual average cost of motorcycle insurance in Montana is $532. Various factors contribute to the overall cost, including:
– Make, model, year, value, and condition of your motorcycle
– Your age and riding experience
– Homeownership status (owning or renting)
– Traffic citations history while riding and driving
– Estimated annual mileage on your bike
– Chosen deductible amount
By bundling motorcycle insurance with other policies such as car, homeowners, or renters insurance, substantial discounts are often available. Additionally, reduced rates may be obtained by completing a certified motorcycle safety course or qualifying for other offered motorcycle insurance discounts.
What does Motorcycle Insurance in Montana Cover
You have the flexibility to determine the extent of coverage in your motorcycle insurance policy. While liability coverage is mandatory upon purchasing a policy, all other types of coverage are optional. Montana motorcycle insurance providers typically offer the following optional coverage options:
Motorcycle liability insurance: safeguards against property damage or injuries caused by your involvement in a collision while riding. If you opt for a motorcycle insurance policy, it must include liability coverage with the following minimums:
– Bodily injury liability coverage per person: $25,000
– Bodily injury liability coverage per accident: $50,000
– Property damage liability coverage per accident: $10,000
Collision insurance covers : repair or replacement costs for your motorcycle in case of damage from a collision, irrespective of fault.
Comprehensive insurance covers: repair or replacement costs in non-collision events like wildfires or windstorms.
Uninsured motorist insurance: addresses the expenses of medical treatment in the event of an accident caused by an uninsured, underinsured, or hit-and-run driver, covering you and your passenger.
Medical payments insurance covers: emergency treatment and associated medical bills in the aftermath of a motorcycle accident, irrespective of fault.
Custom parts and equipment insurance: enhances the assessed value of your motorcycle if customized with accessories or equipment. In the case of a covered event leading to your bike’s total loss, you can receive compensation based on its actual value.
Gap insurance: becomes valuable when you have financed a high-value motorcycle and currently owe more on it than its depreciated value. In the event of a covered incident resulting in your bike being totaled, this coverage can settle your motorcycle loan.
ALSO READ
How much is Motorcycle Insurance in Michigan: Know the Right Prices
Why is Motorcycle Insurance so Expensive? Get to Know the Details