11-08-2019, 10:24 AM
Gone perfectly explained California (and Colorado) requirements. The amount of liability and property damage coverage that I purchase exceeds the state requirements. My cost is approximately $30 per bike per year. I choose not to purchase comprehensive or collision coverage, which covers damage, theft, etc., to my bikes, since it is not required. For these risks, I elect to self-insure (which means I pay for motorcycle repairs or replacement myself, should I choose). For my two cars, however, I do purchase comprehensive and collision coverage, in addition to the required liability and property damage coverage, and it costs about $2400/year for both vehicles.
