Motorcycle Insurance Terms
What differs when the vehicle has two wheels: agreed value, lay-up, custom parts and equipment, medical payments, and whether a safety course changes your rate.
8 definitions
Agreed Value Motorcycle Insurance
Agreed value fixes your motorcycle's worth in advance, so a total loss pays that figure rather than market value minus depreciation.
Custom Parts & Equipment (CPE) Coverage
Custom parts and equipment (CPE) coverage insures the accessories added to a motorcycle — exhausts, paint, chrome and engine work — which a standard policy limits.
Full Coverage Motorcycle Insurance
'Full coverage' is not a policy type but a combination: liability plus collision and comprehensive, and usually uninsured motorist coverage as well.
Lay-Up / Seasonal Motorcycle Insurance
A lay-up suspends collision and comprehensive for the months you do not ride, while liability stays active to keep registration and continuous coverage valid.
Motorcycle Liability Insurance
Motorcycle Liability Insurance definition - Learn what BI/PD covers, state minimum requirements, how it works, and why you need higher limits than the legal minimum.
Motorcycle Medical Payments Coverage (MedPay)
Motorcycle medical payments coverage pays medical bills for you and your passenger after a crash, regardless of fault and often before a health deductible is met.
MSF Safety Course (Motorcycle Discount)
The Motorcycle Safety Foundation's Basic RiderCourse is required for an endorsement in many states, and most insurers discount for completing it.
Uninsured / Underinsured Motorist (UM/UIM) Motorcycle Coverage
Uninsured and underinsured motorist coverage pays your costs when the at-fault driver has no insurance, or too little to cover the loss.