I am NOT in the insurance business. In fact, I have spent my career fighting insurance businesses. Even so, I know that all riders need to have good motorcycle insurance.

The problem is that some insurance companies will sell you lousy insurance because they make more profit that way. They will sell you what they call a “comprehensive” policy that actually doesn’t cover much.

Wisconsin Law only requires a motorist to carry $50,000.00 in liability coverage. That’s the coverage that’s supposed to pay for all of the damages caused by an accident, including medical bells, lost wages, lost earning capacity, pain and suffering.

That may seem like a lot of money, but it is nowhere near enough to compensate for common motorcycle accidents – not even close. If a driver hits you and breaks your leg, this coverage may not even cover your medical bills. If the injury is worse, you might be left without compensation.

That’s why you need to purchase Underinsured Motorist Coverage. This coverage is important and doesn’t cost a whole lot. The insurance companies don’t push it, but you do need it. This coverage protects you when someone with insufficient insurance injures you. A motorcycle accident can easily cause several hundred thousand dollars in damages; so you should have that much Underinsured Motorist Coverage.

You also need Uninsured Motorist Coverage. Different from underinsured coverage, this applies when the driver who caused the accident has no insurance at all. It is also inexpensive, so the companies do not push it. If you ride a bike, however, you need more if it. Even though Wisconsin requires insurance, there are many uninsured motorists out there, and they don’t know how to drive. Again, you should have at least several hundred thousand dollars of uninsured motorist coverage.

You also need Med Pay Coverage. Med pay coverage protects you from medical bills that are not covered by your health insurance. If you ride a bike, this is important protection.

Here’s what the insurance companies do not want you to know: good insurance only costs a little more than lousy insurance.

I recently consulted with a fellow who wanted to know whether an insurance policy on what he was about to buy was any good. It was a collision/comprehensive policy that covered injuries and damage to his bike. It was about a $700.00 policy; and it was lousy. Most of the cost was for coverage on the bike itself. But, it only had $50,000.00 in coverage for liability, uninsured motorists, and underinsured motorists. It had no med pay at all.

On my advice, he got a quote from the same company for good insurance, with $300,000.00 injury coverage. The price for six times the amount coverage only went up by about $250.00: six times the coverage less for than a one-third increase in price.

Now you know why the insurance companies don’t try harder to sell it to you.