Motorcycle Insurance in Arkansas
Owning a motorcycle is a dream for many people. For those that are in the state of Arkansas, making sure that their motorcycle is appropriately covered by insurance is a necessity. There are a variety of different factors that should be considered when you are looking to get a new motorcycle insurance policy.
Arkansas State Requirements for Motorcycle Insurance
In the state of Arkansas, you will be required to carry motorcycle whenever you drive it on the open road. To drive legally, you will need to have bodily injury liability coverage of $50,000 per accident and $25,000 per person plus property damage liability coverage of at least $25,000 per accident.
Ability to Replace Motorcycle
If you have purchased a motorcycle that was expensive and could be difficult to replace, you may want to consider getting additional motorcycle insurance. The base state requirements will only provide coverage to other people involved in an accident. If your motorcycle is stolen, damaged, or vandalized, you will receive no coverage from the base state requirements. Instead, you may want to increase your motorcycle insurance coverage to provide you with collision and comprehensive coverage as well.
If you have taken out a loan to purchase the motorcycle, you will also need to have collision and comprehensive coverage to comply with the loan agreement. The loan documents that you sign will require that you maintain this coverage as long as the loan is outstanding. Not carrying this coverage could result in a violation of your terms and agreement.
If you own a motorcycle in the Van Buren, AR area, the team at Matthew Yancey Insurance & Real Estate, Inc. should be your first call. When you speak with the professionals at Matthew Yancey Insurance & Real Estate, Inc. in Van Buren, AR, you can be assured that you will receive the guidance you need to understand better your motorcycle insurance needs and know that you are getting the right level of coverage.