Some try making money as motorcycle dealers instead of as car dealers. As a motorcycle dealer, it's crucial to protect your business from various risks and liabilities. Motorcycle dealer insurance provides comprehensive coverage to safeguard your dealership and assets. This article will explore the different types of insurance policies available for you and their coverage limits. Read on to discover the options that can help protect your business.
| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| Per occurrence limit | $1,000,000 | $1,000,000 | $1,000,000/$2,000,000 | $300,000/$1,000,000 | $1,000,000/$2,000,000 |
| Aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Products and completed operations aggregate limit | $2,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Advertising injury coverage aggregate limit | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 | $1,000,000 |
| Tenant’s legal liability coverage limit | $100,000 | $100,000 | $5,000 | $100,000 | $1,000,000 |
| Waiver of subrogation included? | Yes | No | Included | Can be included | No |
| Hired/non-owned auto liability coverage included? | Yes | No | Excluded | Can be included | Can be included |
| Equipment breakdown floater included? | No | Yes | Yes | Can be included | Can be included |
| Can you get a certificate of insurance online? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds? | Yes | Yes | Yes | Yes | Yes |
| Deductible | $0 | $0 | $0 | $0 | $0 |
This insurance is a fundamental coverage for you. It protects your dealership from claims of property damage, bodily injury, or advertising-related incidents. Coverage limits typically range from $1 million to $2 million.
Accidents involving customers on your dealership premises
Injuries sustained during motorcycle test drives
Property damage caused by your dealership's operations
Advertising claims and allegations of false advertising
HNOA coverage–Hired/non-owned auto coverage covers the accidents caused by a vehicle your motorcycle dealership hired or borrowed to transport goods, equipment, or employees
Completed operations coverage–This covers claims arising from work or services completed by the dealership
The product liability policy in your motorcycle dealer insurance program protects against claims arising from defective motorcycles or parts. Even if you carefully select reputable manufacturers, unforeseen defects can still occur, putting your dealership at risk. Product liability insurance covers legal expenses, settlements, and judgments resulting from such claims. Coverage limits for this insurance vary, but they usually range from $1 million to $5 million.
Accidents caused by defective motorcycle parts
Injuries resulting from faulty manufacturing or design
Claims related to inadequate product warnings or instructions
Recall expense coverage–The add-on provides coverage for expenses associated with product recalls, including notification costs, shipping and disposal expenses, and public relations expenses
Contractual liability coverage–This extends coverage for liability assumed under contracts or agreements with suppliers or other parties, ensuring that the dealership is protected from potential legal disputes
You can contact motorcycle dealer insurance providers specializing in commercial coverage for dealerships. Provide them with details about your business, and they will provide you with customized quotes that outline the cost and coverage options available to your dealership.
Get all the best quotes from leading providers in a click of a button!
| CoverWallet | NEXT (Best) | Thimble | The Hartford | Hiscox | |
|---|---|---|---|---|---|
| Building coverage limit (minimum) | $50,000 | $320,000 | $25,000/$500,000 | $75,000 | $25,000 |
| Contents coverage limit (minimum) | $50,000 | $35,000 | $25,000/$500,000 | $75,000 | $15,000 |
| Outdoor signs | Excluded | $2,500 | Excluded | Excluded | Included |
| Accounts receivable | Excluded | Excluded | $5,000/$10,000 | Excluded | Included |
| Money and securities | Excluded | $2,500 | $1,000 | Excluded | Included |
| Lock and keys | Excluded | $2,500 | Excluded | Excluded | Included |
| Business interruption floater | Excluded | Included | Included | Excluded | Included |
| Equipment breakdown floater | Excluded | Included | Excluded | Excluded | Included |
| Inland marine insurance floater | Excluded | Excluded | $10,000 | Excluded | Excluded |
| Employee dishonesty floater | Excluded | $5,000 | $2,500 | Excluded | Excluded |
This insurance is vital for you, ensuring protection against property damage and loss. The insurance covers your dealership's buildings, inventory, equipment, and other physical assets, whether due to fire or vandalism. Coverage limits can range from $250,000 to several million dollars.
Damage caused by storms, or other natural disasters
Stolen motorcycles or equipment
Business interruption due to covered property damage
Business interruption insurance–Provides coverage for lost income and ongoing expenses if your dealership is temporarily unable to operate due to a covered loss, such as fire, theft, or natural disasters
Equipment breakdown coverage–Protects against financial losses resulting from the breakdown of essential equipment or machinery used in your operations, covering repair or replacement costs
Commercial property insurance for motorcycle dealers ncludes coverage for inventory. In the event of damage due to fire, theft, or natural disasters, the insurance policy can reimburse the value of the damaged or lost inventory.
The coverage amount can be based on factors such as the cost of the inventory or its market value, and it's important to review the policy terms and limits to ensure that your inventory is adequately covered. Additionally, certain motorcycle dealer insurance programs may offer options for additional coverage specifically tailored to high-value or specialty motorcycles in your inventory.
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| CoverWallet | NEXT (Best) | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|---|
| General liability aggregate limit | $2,000,000 | $1,000,000/$2,000,000 | $1,000,000/$2,000,000 | $300,000/$2,000,000 | $1,000,000/$2,000,000 |
| Commercial property coverage limit | $50,000 | $320,000 | $25,000/$500,000 | $75,000 | $75,000 |
| Optional policies can be added? | Yes | Yes | Yes | Yes | Yes |
| Name additional insureds for free? | Yes | Yes | Yes | Yes | Yes |
| BOP discount? | Yes | Yes | Yes | Yes | Yes |
A business owner's policy (BOP) combines general liability insurance and commercial property insurance to provide comprehensive coverage for you. It is a cost-effective solution that simplifies your insurance needs and offers significant benefits.
The general liability limits range from $1 million to $2 million per occurrence.Property coverage limits will depend on the value of the dealership's assets, ranging from $250,000 to several million dollars. Specific situations where a business owner's policy can help include:
Accidents or injuries occurring on your dealership premises
Property damage caused by your dealership's operations
Legal claims arising from advertising or marketing activities
Cyber liability insurance–Covers expenses related to data breaches, cyberattacks, or other cyber incidents that may compromise your sensitive information or cause financial losses
Employment practices liability insurance–Provides coverage for legal defense costs and potential settlements
| NEXT | Thimble | Hiscox | The Hartford | |
|---|---|---|---|---|
| Aggregate limit | $3,000/$10,000 | $2,500/$5,000 | $15,000/$25,000 | $5,000-$10,000 |
| Covers hired and borrowed equipment? | $3,000/$10,000 | $2,500/$5,000 | No | Yes |
| Miscellaneous equipment also covered? | $5,000/$10,000 | No | Yes | Yes |
| Offered as an endorsement to general liability insurance? | Yes | Yes | Yes | Yes |
| Deductible | $500 | $500 | $0 | $0 |
Your dealership relies on specialized tools and equipment to operate efficiently. This motorcycle dealer insurance protects against damage, loss, or theft of tools and equipment essential to your day-to-day operations. The coverage limits for this policy range from $2,500-$25,000, depending on the insurance company you choose.
Rented or leased equipment coverage–It extends coverage to tools and equipment that you rented or leased, ensuring that they are protected during the lease period
Off-site equipment coverage–This add-on covers tools and equipment used off-site, such as during repair or maintenance services at customer locations or events
This type of motorcycle dealer insurance is essential if you operate a vehicle for business purposes. It provides coverage for vehicles used for deliveries or transportation of inventory. Commercial auto liability coverage limits of $500,000 to $1 million are common. This insurance can help to:
Cover the cost of accidents caused by your motorcycle dealership’s commercial vehicles
Cover the cost of damage to your commercial vehicle that resulted from collisions, fire, theft, vandalism, and other covered perils
Pay the medical expenses of your commercial vehicle’s driver and passengers if a collision happens
Hired or non-owned auto coverage–This add-on covers the medical expenses of third parties who got injured in an accident caused by a vehicle that your dealership hired or borrowed
Roadside assistance coverage–It offers additional services such as towing, battery jump-starts, and flat tire assistance for the dealership's vehicles, ensuring prompt assistance in case of breakdowns
Workers' compensation insurance is essential if you have employees working at your motorcycle dealership. It covers medical expenses, lost wages, and rehabilitation costs if an employee sustains a work-related injury or illness. The payout depends on the state and the specific policy but typically includes coverage for medical expenses and lost wages, with limits based on state-mandated requirements.
Employer's liability insurance–Provides additional coverage for lawsuits filed by employees claiming negligence or unsafe working conditions
Your dealership should promptly notify the motorcycle dealer insurance provider and provide all necessary information and documentation related to the claim. Maintaining open communication with the injured employee, their healthcare providers, and any legal representatives involved is essential to ensure appropriate support and compliance with the workers' compensation process.
Excess liability insurance provides additional coverage beyond the limits of your primary liability policies, such as general liability or commercial auto liability insurance.
It acts as an extra layer of protection against catastrophic events or high-value lawsuits that exceed the limits of your underlying policies.
Coverage limits for this motorcycle dealer insurance can range from $1 million-$10 million or more depending on your needs and the potential risks your dealership may face.
| Cost per Month | Cost per Year | Deductible | |
|---|---|---|---|
| General liability insurance | $34 | $408 | $0-$500 |
| Excess liability insurance | $36 | $432 | $500-$1,000 |
| Commercial property insurance | $40 | $480 | $1,000-$2,000 |
| Business owner’s policy | $65 | $780 | $1,500 |
| Commercial auto insurance | $63 | $756 | $500-$1,000 |
| Tools and equipment insurance | $49 | $588 | $500-$1,000 |
| Workers compensation insurance | $78 | $936 | $2,000-$5,000 |
The average motorcycle dealer insurance cost is $34 per month or $408 per year for a $1 million general liability insurance. Factors that determine premiums are:
Size and nature of the dealership–The size of the dealership, its annual revenue, and the number of employees can impact the insurance cost. Larger dealerships with higher revenue and more employees tend to have higher insurance premiums
Location–The geographical location of the dealership also plays a role in determining the cost. Insurance rates can vary based on the area's crime rates, weather risks, and local regulations
Coverage types and limits–The specific types of coverage chosen, such as general liability, product liability, commercial property, and commercial auto insurance, as well as the coverage limits selected, will affect the overall cost. Higher motorcycle dealer insurance coverage limits typically lead to higher premiums
Deductibles–The deductible amount, which is the portion of the claim the dealership is responsible for paying, can impact the cost of insurance. Higher deductibles generally result in lower premiums
Claims history–A dealership's claims history is a significant factor considered by insurance providers. If a dealership has a history of frequent claims or large losses, it may lead to higher premiums
Risk management practices–Implementing risk management strategies, such as having proper safety protocols, security measures, and employee training programs, can potentially lower insurance costs by reducing the risk of accidents, theft, and liability claims
In connection, here’s a table showing the cost of a $1 million general liability insurance from the best motorcycle dealer insurance companies:
| Cost per Month | Cost per Year | Best for | |
|---|---|---|---|
| NEXT | $19 | $228 | Best overall; Fastest general liability insurance for honey producers |
| CoverWallet | $23 | $276 | Comparing motorcycle dealer insurance quotes online |
| The Hartford | $26 | $312 | Workers compensation insurance for motorcycle dealers |
| Tivly | $28 | $336 | Comparing motorcycle dealer insurance quotes over the phone |
| Thimble | $30 | $360 | On-demand insurance policies for motorcycle dealers |
| Hiscox | $32 | $384 | Motorcycle dealer insurance with automatic renewal |
Get all the best quotes from leading providers in a click of a button!
Here are the top insurance companies that specialize in motorcycle dealer insurance. Read some of the reviews below to know their pros, cons, and average rate for a $1 million general liability insurance.
Best overall
Issues an online proof of insurance instantly
Fastest general liability insurance for motorcycle dealers
Great customer service and reputation
Excellent rates
Outstanding value for money
Get a 10% discount if you buy two or more policies
Couldn’t find any
Over the years, NEXT has continued to evolve and refine its insurance offerings, staying up-to-date with the latest trends. By collaborating with industry experts, underwriters, and risk management professionals, NEXT offers a motorcycle dealer insurance program that protects against accidents, liability claims, and property damage.
Today, NEXT stands as a trusted and respected name in the insurance industry, known for its deep expertise, exceptional service, and commitment to meeting the unique needs of motorcycle dealers. With a strong foundation built on years of experience, NEXT continues to innovate and adapt, ensuring that motorcycle dealers can grow.
Best for: Best overall; Fastest general liability insurance for motorcycle dealers
Average cost: $19 per month
Our rating: 10/10
Wide selection of insurance carriers
User-friendly online platform
Ability to compare quotes from multiple providers
Not an insurance company but an insurance broker
CoverWallet is a leading online insurance broker specializing in comprehensive insurance solutions for various industries, including motorcycle dealerships. By partnering with multiple insurance carriers, CoverWallet offers a diverse range of coverage options tailored to meet the specific needs of motorcycle dealers.
Best for: Comparing motorcycle dealer insurance quotes online
Average cost: $23 per month
Our rating: 10/10
Established and reputable company
Extensive experience in commercial insurance
Customizable motorcycle dealer insurance programs
Limited add-ons to general liability insurance
The Hartford, a well-established insurance company with a strong presence in the commercial insurance market, was founded in 1810. With over two centuries of experience, The Hartford has solidified its reputation as a trusted and reliable provider of insurance solutions. Throughout its long history, The Hartford has continuously adapted to the changing needs of businesses and has consistently delivered comprehensive coverage options to meet their specific requirements.
Best for: Workers compensation insurance for motorcycle dealers
Average cost: $26 per month
Our rating: 10/10
Tailored coverage for motorcycle dealers
Commitment to customer satisfaction
Provides personalized assistance and support to help motorcycle dealerships navigate their insurance requirements
You need to talk to a representative to get quotes
Tivly was founded in 2009. They are experts in providing insurance solutions for motorcycle dealers. They offer tailored coverage options designed to address specific requirements. Their industry expertise and personalized service make them a reliable choice for motorcycle dealers insurance. Call now to compare quotes over the phone.
Best for: Comparing motorcycle dealer insurance quotes over the phone
Average cost: $28 per month
Our rating: 9/10
Coverage can be purchased for specific durations, providing flexibility for racing events.
Numerous add-ons to general liability insurance
Up to $500,000 commercial property coverage limit
You can’t reach customer service by calling
Thimble is an innovative insurance provider that specializes in offering on-demand coverage, including options suitable for motorcycle dealers. With Thimble, you have the flexibility to customize your insurance based on your specific coverage timeframes.
Thimble's on-demand insurance model gives you control over when and how long you need coverage. This particularly benefits motorcycle dealers who may require insurance for specific events or a limited duration. With Thimble, you can obtain coverage precisely when you need it, without being tied down to long-term policies.
Best for: On-demand insurance policies for motorcycle dealers
Average cost: $30 per month.
Our rating: 9/10
Expertise in risk management
Has a solid financial foundation, providing reassurance and stability for policyholders.
Hiscox is known for its efficient and responsive claims-handling process.
Limited availability in certain states
With over a century of experience since its founding in 1901, Hiscox is a renowned insurance company known for its expertise in risk management and comprehensive insurance solutions. Their long-standing presence in the industry and strong reputation make them a trusted choice for motorcycle dealers insurance.
Hiscox offers specialized coverage tailored to the unique needs and motorcycle dealers, addressing risks such as accidents, liability claims, and property damage. Their commitment to customer satisfaction and deep understanding of the industry allows Hiscox to deliver reliable and comprehensive insurance solutions that provide motorcycle dealers with the necessary protection.
Best for: Motorcycle dealer insurance with automatic renewal
Average cost: $32 per month
Our rating: 9/10
1 / 5
Use anyone except Employers. Period. They are non-transparent and shameful. After I complained long enough to warrant a call from a supervisor, the supervisor called back from a PRIVATE NUMBER (no caller ID), left a message that they are not reversing their decision (without any communication with me), and failed to leave a phone number for me to call back. She was hiding! They also fact find via email and phone calls, which is terrific for speed and communication. However, after setting a precedence of email or phone calls, they send time sensitive information via email, without any heads up... they are hoping you miss it and forfeit via expiration. Evil policies. Go elsewhere.
1 / 5
This place is an absolute joke of a company and should be ashamed of the way they conduct business. I was hurt on the job at the end of July and it took them just shy of 7 weeks to issue out a paycheck to me. Yes the amount was back dated but still. Not many have the luxury of not receiving a paycheck for almost 2 months. To top it all off, the original adjuster marked me down for the wrong state which caused a problem from the get go, I've had 3 different adjusters now since each one can't seem to figure out the simplicity of my claim. All my paperwork which includes, my job, house, and drs visits all are from the same state and city but yet some how I have been filed under a completely different state 1500 miles away. They do not answer your phone calls or emails no matter how many you leave. I've had to escalate my frustrations to the supervisors of each of these individuals in order to even get some kind of response. I've had more communication and information given to me about my claim from the customer service representatives then the actual adjusters.......... please tell me how that works?! A serious overhaul needs to happen here in order to serve your clients the way they deserve to be taken care of. 10/10 do not recommend this company to a single soul on earth
1 / 5
I have never had the displeasure of working with a more incompetent and disrespectful person in my life. I’m an injured worker and the adjuster that was assigned to my case was named Carrie Furgeson. In the past 6 weeks that I’ve been injured and out of work I have only been able to get ahold of her twice, not for lack of trying. I have left countless voicemails, countless emails, and she ignores them all. When I am finally able to get ahold of her I’m greeted with terrible customer service. She is rude, she talks over me and I’m hardly able to get a word in edgewise. She spelled my name wrong on my documents even after I spelled it for her properly countless times, this caused a whole new issue with my bank. I have bill collectors from the hospital calling me demanding payment and Carrie Furgeson won’t do a single thing to help, or to get them paid. All of my documentation is in Colorado, my job is in Colorado, my address is in Colorado, all my Dr offices and appointments have been in Colorado and Carrie still managed to hold my claim because she wasn’t sure what state she needed to file it under. It’s been 6 weeks since my Injury and my company still hasn’t received the wage paperwork to fill out so they can get me my correct wages. When she’s not ignoring me she’s answering my questions with “I don’t know” well I don’t know how she got this job, because apparently she doesn’t know anything about it. She is a disgusting morose individual inside and out and I genuinely wish her the worst in all of her future endeavors. I highly recommend you don’t use this company. Please if you are a business owner and your looking into this company please don’t use them. I’m sure they have the cheapest payment and that’s why companies use them in the first place, but you will be doing your employees a grave disservice by forcing them to venture into this absolute dumpster fire of a company. I would rate 0/5 if possible but 1 was the lowest I was allowed.
5 / 5
Their general liability insurance purchase process is simply the best online experience I've ever had in my life!
5 / 5
As long as they cover your line of business, you're literally covered! best rates, best coverage, best online experience, best professionals, can't be happier that I chose them!
Not all those who wander are lost.
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