What if Someone Gets Hurt or Damages My Motorcycle? Damage Protection Insurance for Owners

Dec 2, 2023


What if someone damages my bike? Liability insurance for owners at Riders Share

If you're like us, your bike isn't just your seasonal ride or part of your daily commute; it's a part of your life. But when it comes to renting it out, there's that nagging anxiety: "What if someone gets hurt or damages my motorcycle? What happens then?" It's a question that can make any bike owner pause. And that's exactly what we're answering today.

At Riders Share, we're all about embracing our passion for motorcycles and riding while providing peace of mind. Whether you're thinking of listing your bike for the first time or have had this concern for a while, this article is for you. Let's chat about how we've got your back with our damage protection insurance and other safeguards explicitly designed for owners like you, including tips to keep your bike safe. After all, sharing your ride should be worry-free and rewarding, right? Here’s how we make that happen.

What if I get my bike back and it's scratched or damaged?

The biggest thing any owner should prioritize here is your check-in and check-out processes. It’s important to have a solid idea of any existing scratches or dings on the bike (such as average wear and tear) before renting it out. 

Think about a car rental company. You rent your car, and the first thing we’re taught to do is take inventory of any existing damage. While we encourage riders to do this as well, it’s an important tool for owners when it comes to liability. Riders Share will need to confirm the damage occurred, and that can’t happen without proof. 

In our experience, most riders are pretty upfront about any damage they’ve caused. But in the event that someone hasn’t admitted to damage you believe occurred, proof is necessary. We maintain that everyone is innocent until proven guilty!

Once you receive your motorcycle back after a rental, make sure to review the body, take it for a drive, and check for potential damage. Compare this to anything you noted beforehand.

For your ease, Riders Share has an easy-to-use inspection checklist to help you answer the important questions without worrying about if you’re missing anything:

Your bike is protected, but only if you tell us! You have three days from the time of check-out to report any damage to your motorcycle. 

Can I use my own personal insurance when renting out my bike?

We get it! You’re already paying for your own insurance, so why would you want an extra insurance plan? The issue is that the majority of personal motorcycle insurance companies do not cover the liability of renting out your bike to others. Make sure to not get this confused with rental coverage, which will personally cover your expenses for renting a bike if you temporarily can’t ride your own. 

Dealing with personal insurance claims can be tedious, especially if they involve rental situations. With Riders Share's insurance, any claims are handled swiftly and professionally, keeping you from unnecessary stress and paperwork.

If you plan to rent your motorcycle without liability insurance through Riders Share, its necessary to investigate insurance coverage from your personal policy provider, which can be a hassle. Commercial insurance, on the other hand, will cover liability. We’ll discuss this option in the next section!

Liability Insurance for Owners: What Are My Options with Riders Share?

At Riders Share, we offer owners a choice between three distinct Protection Plans, each designed to cater to your specific needs and preferences. Let's break down what each plan offers and give an example so you can make the best choice for you and your bike.

  • Example scenario: Alex has a minor accident after renting your bike, resulting in some damage to the body of the motorcycle. Your bike is in the shop for a week, and you’re out of a ride or rental income. 

1. Standard Protection Plan (30%)

Our Standard Plan is the go-to for many of our owners. It includes Riders Share's general liability protection of up to $300,000, comprehensive & collision coverage of up to $30,000, and meets state minimum requirements for third-party liability. It's a solid choice for ensuring your bike is covered for the essentials.

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  • Example of Coverage: Under the Standard Plan, the comprehensive and collision coverage kicks in. It covers the cost of repairing the cosmetic damage and the broken mirror up to $30,000. Plus, if there's any liability issue, there's coverage up to $300,000.

2. Premium Protection Plan (40%)

Looking for a bit more? The Premium Plan includes all the coverage of the Standard Plan, plus some valuable extras. You'll get mechanical breakdown coverage and loss of use coverage for up to 14 days. This plan is perfect for those who want that extra layer of security and convenience.

  • Example of Coverage: In addition to the Standard Plan's benefits, the Premium Plan would also provide loss of use coverage. This means if the bike is in the shop for repairs and you're missing out on potential rental income, you're covered for up to 14 days.

3. Commercial Protection Plan (15%)

The Commercial Plan might be your best fit for owners with existing commercial insurance. If you've already got liability protection and roadside assistance for your motorcycle, you can opt out of Riders Share's coverage. Just provide proof of your Commercial Insurance, and we'll review it to ensure it meets our standards.

  • Example of Coverage: Since you've declined Riders Share's coverage, your own commercial insurance would handle the claim. The specifics depend on your policy, but typically, it should cover the damages and any liability, just like Riders Share's Standard Plan.

Each plan is designed with you, the owner, in mind. Whether you're looking for comprehensive coverage or have your own insurance, Riders Share has an option that fits your needs. Choose the one that aligns with your preferences, and rest easy knowing your bike is in good hands.

how to prevent damage to your motorcycle when you rent it; image of motorcycle rider with helmet

Fixing the Damage Before It Happens: How to Best Prevent This Scenario in the First Place

Although the ride isn’t necessarily in your control, there are steps owners can take to minimize the likelihood of damage to your bike. By following these tips, you can create safeguards against future damage. 

1. First, know that Riders Share does have a screening process that goes beyond your average rental company

We examine a total of 100 different data points to vet out the riders renting your bike. Our system continues to improve. However, Riders Share reserves the right to decline bookings if our system deems them too risky.

2. Familiarize riders with the bike they’re renting

Provide a comprehensive orientation to each renter. Familiarize them with your bike's specific features and handling characteristics, which can help prevent accidents caused by unfamiliarity.

3. Regular maintenance checks

Keep your motorcycle in top condition. Regular maintenance and checks can prevent mechanical failures that might lead to accidents or breakdowns.

4. Set clear rental guidelines and boundaries

Set clear expectations and guidelines for renters. Include any specific instructions about the bike's use, areas to avoid, or particular care instructions.

5. Encourage safety gear

Encourage renters to use proper safety gear. This can reduce the risk of injury and potential damage to the bike in case of an accident.

6. Never rent your bike to someone who may be under the influence

If you suspect a renter is involved in prohibited activities, like being under the influence, we empower you to make a judgment call. Trust your instincts – if something feels off, it probably is. While you'll need to file a brief dispute for documentation, rest assured that you're still entitled to your reservation fee. Your safety and the integrity of the rental process are paramount, and we stand by your right to make responsible decisions.

7. Install protective measures

Consider adding protective gear to your bike, like crash bars or frame sliders. These can minimize damage in case of minor accidents or drops.

8. Keep an open line

Ensure there's an open line of communication. Renters should feel comfortable reaching out if they have any questions or concerns during their ride.

9. Documentation and Photos

Before renting out, document the current state of your bike with photos. This helps in accurately assessing any new damage post-rental.

Make Money with Your Motorcycle Today!

Making the leap to rent your bike out to strangers can be a nerve-wracking experience, especially in deciding if it’s something you’re comfortable with. Rest assured, Riders Share is here to help you not only make money on your bike but protect your ride as well. With safety measures like liability insurance, screening processes, and tips for keeping your bike free from any damage, we’re your partner through all of this. 

Still, have questions, but want to make sure before you agree to list your bike? Contact us by email or phone today!

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Weekends: 9-8 CDT

Disclaimer: Riders Share offers guidance based on what we have found to be effective and helpful for our Users and Community members. In the event of conflict, remember our Terms of Service and incorporated policies will control. Review your Account Policies, and any Reservation Agreement presented to you. These strategies and tips our Community members have found useful are offered for informational purposes.