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Do you need full coverage if you have a motorcycle loan?

Yes, normally if you are still paying off your motorcycle through a loan from a lien holder then that lien holder will require you to have full coverage on the bike so their asset, the motorcycle, is protected by these physical damage auto insurance coverages.

It is not a state law that requires anyone to carry full coverage, which normally one takes to mean that you have at least the state's minimum car insurance limits on the vehicle and physical damage coverages of comprehensive and collision. It is typically mandated by your lien holder, who carries the title to your vehicle until you pay off your loan, that you keep full coverage on the vehicle so that their asset is covered for damages that it may receive.

If you have a motorcycle loan then you should check with your lien holder to see what insurance coverages they require you to carry on the bike until it is fully paid off and you thus own it and can decide what coverages you would like to keep on it.

You can get a low cost quote for motorcycle insurance here with us.

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This car insurance answer was last updated 6:41 PM Aug-01.
This buying a policy question was asked 1:35 PM Jul-29-2008.
Greg requested this car insurance help from CarInsurance.com experts.
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