Franklin Insurance Agency

2345 Southern Blvd SE Ste C4,
Rio Rancho, NM 87124, United States

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What Is And What Is Not Covered By Motorcycle Insurance?

Riding a motorcycle is a fun but dangerous activity, and it should be taken seriously. Every day, there are hundreds of motorcycle accidents happening in the world. Even though you cannot protect yourself from a motorcycle accident having motorcycle insurance is a smart way to protect yourself on the road. If you have any questions about this type of insurance, Franklin Insurance Agency serving clients in Rio Rancho, NM prepared a list of what is and what is not covered by motorcycle insurance:

What Is And What Is Not Covered By Motorcycle Insurance

Here is what is usually covered by motorcycle insurance:

  • Damages to a motorcycle 
  • Injury to yourself if you are involved in a road accident with an uninsured vehicle. 
  • Such unexpended events as theft or vandalism will be also covered by standard motorcycle insurance.

However, unfortunately, standard motorcycle insurance will not cover: 

  • Track days and competition. There are some motorcycle insurance policies that will cover truck days but not all of them. Make sure to ask your insurance agent about the coverage they provide. 
  • Commercial use of your motorcycle. Some people use their vehicles for commercial purposes. For example, a person may use a motorcycle to use as a courier. In this case, motorcycle insurance does not cover a motorist and motorcycle. 

 If you are a lucky owner of a motorcycle in Rio Rancho, NM or any other nearby town, and you are looking for motorcycle insurance, Franklin Insurance Agency will be glad to help you. If you have any questions about the options available, feel free to give our insurance agency a call – our insurance agents will provide you with all the necessary information. 

Why should I get a motorcycle insurance plan in New Mexico?

In the Rio Rancho, NM area, people are able to enjoy the hot sun and open roads when going for a drive. This can make it a fun place for you to own a motorcycle. If you do own a motorcycle here, you will have an efficient mode of transportation that can be used much of the year. However, you will need to get a motorcycle insurance plan in place if you do get one. There are several reasons why you should get a motorcycle insurance plan here.

Insurance Protects Against Liability

An important reason that anyone in this area of New Mexico should get motorcycle insurance is that it can protect against liability risk. If you are going to operate a motorcycle, you could make a mistake that leads to an accident that results in damages. If this happens to you, it will be beneficial to have motorcycle coverage as it will have protection against liability risk.

Protection for Asset

You will also want to get motorcycle insurance as it can protect your asset. If you invest in a motorcycle and want to use it for a long time, you should get a collision and comprehensive policy. This form of coverage will provide protection in the event your motorcycle is stolen or damaged. This coverage will also be required if you took out a loan to buy the motorcycle. 

When you are shopping for motorcycle insurance coverage in the Rio Rancho, NM area, it would be a good idea for you to call Franklin Insurance Agency. The insurance team with Franklin Insurance Agency understands the value of motorcycle coverage. They can help you assess your individual needs and explain all of your options. This can help to ensure you are able to build a quality motorcycle insurance plan. 

Is Motorcycle Insurance Required in New Mexico?

Your knees to the sky and the wind in your hair are two of the feelings of freedom riding on your motorcycle can provide you with, but to truly feel that sense of freedom, you need peace of mind. To achieve that,  you need to make sure your beloved motorcycle is adequately insured, and for riders in New Mexico, there are minimum requirements you must meet to ride your bike legally.

Minimum Requirements for Motorcycle Insurance for New Mexico Riders

In New Mexico, you must purchase liability insurance that will cover others if you have an accident that causes an injury to someone or damage to someone’s property. The state-mandated requirements dictate that you must have at least $25,000 of bodily injury coverage per person, $50,000 of bodily injury per accident, and $10,000 property damage per accident. After you meet the minimum requirements, you can decide, with the help of a trusted motorcycle insurance agent, as to other coverage options you may want to obtain.

Other Motorcycle Insurance Coverage Options.

Uninsured/Underinsured Coverage

This type of coverage will provide financial protection for you and your passengers if you are involved in a crash with a motorist who has no insurance or not enough insurance to cover injuries to you or your passenger.

Collision and Comprehensive Coverage

Your lender may require collision insurance if you have borrowed the money to purchase your motorcycle, and even if you are not required to have it, this type of policy will provide you with more peace of mind. It covers any damage your motorcycle sustains if you are involved in a collision with another vehicle if you fall off your cycle, or your cycle is damaged by debris or another object while out to the roadway.

Comprehensive insurance will cover your cycle if it suffers damage from vandalism, a fire, or natural disaster. This type of policy will also cover your motorcycle if it is stolen.

To determine the best coverage options for you and your motorcycle, visit an insurance agent you can trust who has experience with motorcycle insurance, such as the motorcycle insurance experts at the Franklin Insurance Agency in Rio Rancho, NM.

Motorcycle Insurance: 3 Things You Should Know

As with all other forms of transportation, owning a motorcycle requires that you also purchase an insurance policy. For residents of Rio Rancho, NM, the following is an overview of 3 things you should know about motorcycle insurance.


One of the top things you need to know about motorcycle insurance is that liability-only coverage is relatively cheap. One of the least expensive ways to make sure your vehicle is covered, if you are a safe driver and not concerned with being involved an accident, you can purchase this coverage at a very reasonable price.

More Coverage

While purchasing liability-only coverage may be tempting, it is often not enough. Liability only is the best way to cover yourself in case you do happen to cause an accident. However, it is also likely that you could be involved in an accident that is the fault of the other driver. In these cases, you would have no coverage at all and if the other driver happens to have insufficient coverage, this could leave you in a terrible predicament.

Make Sure You Have Medical Coverage

Although no one wants to think about being in an accident, sometimes, these things are unavoidable. Moreover, given that riding a motorcycle makes you more susceptible to becoming physically injured, you need to make sure you are covered in case the unthinkable happens. Your motorcycle insurance may provide some coverage but the best way to make sure your medical bills will be paid is to buy your own medical and/or life insurance policies.

Overall, for residents of Rio Rancho, NM, Franklin Insurance Agency is an excellent option for purchasing motorcycle insurance. Simply call or visit the Franklin Insurance Agency office today to find out which type of policy works best for your needs.