Rider Insurance

Motorcycle Insurance coverage is mandatory in most states. So if you are a resident of those states or financing/leasing your motorcycle, be sure you have insurance coverage.

Most states require you to have mimimum liability coverage. Liability insurance covers other people injured in an accident, but it doesn't cover your own injuries. If you are financing or leasing your motorcycle, your finance company will also require you to have comprehensive and collision coverage.

Comprehensive insurance covers your motorcycle for losses resulting from incidents other than collision. For example, comprehensive insurance covers damage to your motorcycle if it is stolen; or damaged by flood, fire, or animals. It pays to fix your motorcycle minus your deductible.

Collision insurance covers damage to your motorcycle when your motorcycle hits, or is hit by, another vehicle, or some other object. This coverage pays to fix your motorcycle minus the deductible you choose. Coverage is normally limited to the cash value of your motorcycle.

Even if it is not a requirement, we strongly encourage you to get comprehensive and collision coverage which better protects you and your family from financial risks. There are many types of "motorcycles" - from scooters to high-performance sport bikes or even custom choppers. We work with many carriers to get you the best value and the policies that make sure you and your bike are covered fully.

Physical Damage Waiver Information

1 What Is The “Physical Damage Waiver ”?

The physical damage waiver applies to customers that do not provide proof of comprehensive and collision coverage as required by the lease. In such cases, we protect our interest in the vehicle you are leasing by placing coverage to protect from physical damage and loss from theft only. This coverage has no protection for damage caused to other parties nor to you as the operator of the vehicle or your passengers and does not include bodily injury and property damage liability. Motolease is the named insured on the policy and you must go through Motolease in order to file an accident report on your vehicle. Placing this coverage raises our cost of providing the lease to you so in exchange we charge a monthly charge corresponding to our increased costs. Financial responsibility laws or any other law mandating motor vehicle insurance coverage may require you to purchase your own insurance You may purchase liability insurance only to meet the state requirements.

2 What Is The Monthly Charge?

MotoLease charges $149.00 per month for customers that do not provide proof of comprehensive and collision coverage. The payment is collected when the lease agreement is signed and is charged on the same date every month thereafter. You can elect to have your payments automatically withdrawn out of your checking account or for a 2% fee debited off a credit or debit card.

3 What Is the Coverage?

The coverage is for physical damage only on the leased vehicle, theft and vandalism. It does not cover any injuries that are sustained to any person involved in the accident nor will it provide coverage to any other property damaged as a result of the accident. In the event that the leased vehicle becomes damaged, the insurer pays out on the lesser of the remaining lease balance that is owed; the actual cash value of the vehicle (at the time of loss), calculated as the average between value and retail value; or the cost of repair as determined by the carrier’s appraisal. The funds are paid out less a $1,000.00 deductible and the salvage portion in the case of a total loss. This program does not provide any towing or storage coverage

4 How Can I Cancel?

If you wish to have MotoLease cancel the policy protecting the leased vehicle, you must provide proof that satisfactory physical damage coverage has been placed. We require both comprehensive and collision coverage with no more than a $1,000.00 deductible and that Motolease LLC is listed as the loss payee or lien holder.

5 My Monthly Charge Did Not Go Through. What Do I Do?

If your payment failed to process for any reason, please contact the MotoLease payment department right away. We want to make sure your vehicle remains covered at all times. Please note that any returned payments will be subject to a $25.00 late payment fee.

6 I Received Notice Of Cancellation. What Do I Do?

If you have received a notice of cancellation for any reason please contact our office immediately to avoid any adverse action such as repossession or liability for the entire remaining lease balance. If MotoLease has cancelled the coverage, it is possible to reinstate if the vehicle is first inspected at your expense and by completing new waiver paperwork. The current fee for vehicle inspection is $95.00.

7 How Do I Submit an accident report?

In the event you have to report damage to the leased vehicle; please first ensure that you and the vehicle are in a safe location and that any immediate medical attention is taken care of. Once you are ready to make a report you must contact MotoLease directly. A trained agent will collect the necessary information in order to properly submit your report. Once all the documentation is collected MotoLease will then submit this information to the insurer. Any benefit to you is dependent upon the monthly payment being current. Once the report is submitted; an adjuster will contact you in order to inspect the vehicle. Funds for repairs or total loss pay outs are completed in a first come first serve basis. At times this can be a lengthy process which may take 2 to 3 months.

8 What Should I Do If the Vehicle Is Stolen?

Please report the theft of your vehicle to the police right away. No theft report will be processed without a police report. Once the police have been notified, please contact a MotoLease agent who will collect all the necessary information. DO NOT stop making your payments during this time. If MotoLease cancels the coverage due to non-payment and the vehicle is recovered any damage to the vehicle will not be covered.

9 How Long Does The accident report Process Take?

All damage/theft reports are processed in the order they are received. Depending on the volume of reports this can take up to 2 to 3 months. Additionally, any theft report is subject to a 30 day wait period from the date the police report is filed of confirmed receipt of the police report by Motolease.

10 Where Do I Take the Vehicle to Be Repaired?

If the vehicle is going to be repaired through our coverage, you can take the vehicle to the repair shop of your choice. We recommend taking it to Motolease participating dealer as they do not charge storage fees. In order for MotoLease to receive payment for repairs, a repair order is required. Payment is sent directly to the repair shop.

11 Can I Repair the Vehicle Myself?

No. Pursuant to your lease agreement you are responsible to keep the vehicle in good condition as recommended by the manufacturer. This means having repairs performed by a licensed dealer.

12 My Vehicle has been “totaled”. What are the next steps?

If your vehicle has been considered a “total loss” by MotoLease, a final statement will be mailed to you. This statement will indicate the current balance that remained on your lease at the time of the loss. It will also reflect the insurance payment that was applied to your balance along with any additional payments made since the date of loss. If there is still a balance owed (and you do not have GAP coverage) this balance must be paid off before you can enter in to another lease with MotoLease. Any questions you have regarding your final statement can be answered by our billing department at 877-234-6681.