All motorcycle insurance policies are not created equal. That’s why, selecting the right coverage can be the difficult task, especially when you are purchasing the policy first time. Motorcycle insurance isn't a choice - you must have a policy taken out on your bike in order to drive legally. Of course, it does not mean that you have to purchase the most expensive coverage available. The minimum requirement in most states is for basic liability insurance. You can purchase higher coverage limits if you need it, but it is not a necessity.

Much like car insurance, liability coverage is essential for you. Collision insurance, comprehensive coverage and uninsured or underinsured motorist coverage are optional coverages that you may wish to add to your policy.

Liability Insurance covers any damage or injury you may cause to property or other people in the event you are deemed to be at-fault in an accident or collision. However, it does not cover you or your motorcycle. Some policies may include coverage for a guest passenger as well, but it does not give any guarantee. You can add collision insurance to your policy to cover your motorcycle if liability insurance isn't enough to help you sleep soundly at night. Collision insurance pays for damage to your motorcycle, less your deductible. Even if the damage is your fault, this coverage will still apply.

The comprehensive coverage protects your bike from non-accident related perils such as fire, theft and acts of vandalism. On the hand, the uninsured or underinsured motorist coverage gives protection should you become involved in an accident caused by another driver, and the other driver is either without insurance or has inadequate insurance coverage. This provisional coverage will help pay for medical treatment, lost wages and other damages to you and your passengers. If your policy includes uninsured motorist property damage coverage, your bike would be protected as well.

Many insurance companies enable you to put together an insurance policy that will provide the type and amount of coverage you need. You may want only want liability coverage, or perhaps you want to add uninsured or underinsured motorist coverage. It depends on many factors like your age, budget, type of motorcycle and how often you ride.

When narrowing down the list of potential candidates, you should look at the quotes provided along with the coverage offered. If you find a reasonably priced policy with a respectable amount of coverage, you probably have a winner. And always take into consideration your own requirements, if a policy offers more coverage than you need, it may not be such a great deal. You may be eligible to take advantage of discounts on your premium. With higher-risk specialty insurance in particular, showing the insurer you pose less of a risk will almost always bring down premiums.

A good first step is to join a training course, such as the Motorcycle Safety Foundation rider course, this may land you up to 15% off your motorcycle insurance. If you live in a northern state, you may be given the choice to purchase something called a "lay-up" policy, which takes away coverage during the winter months. So you end up paying less for the coverage overall. The type, style, and age of your bike, as well as the number of miles driven per year and storage used, are also large determining factors when it comes to calculating motorcycle insurance premiums. You should consider all these things before purchasing any insurance policy.

In the end, you should purchase a policy that meets your personal requirements and expectations, and it fits into your budget too. By comparing all policies, customizing your coverage to fulfill you requirements and taking advantage of available discounts, you can select the right policy for you and your bike.