Finney Insurance Corporation

5 Common Motorcycle Insurance Mistakes to Avoid in Hollywood, FL

Riding a motorcycle in Hollywood, FL, offers a thrilling experience, but it’s crucial to have the right motorcycle insurance coverage. Unfortunately, many riders make costly mistakes that can leave them financially vulnerable. Here are five common motorcycle insurance mistakes to avoid:

1. Underestimating the Importance of Liability Coverage:

Liability insurance is mandatory in Florida and covers damages you cause to others in an accident.

  • Hollywood’s Traffic: Hollywood’s bustling streets and intersections increase the risk of accidents. Adequate liability coverage is essential to protect yourself from potentially devastating financial consequences if you’re at fault.
  • Florida’s Minimum Requirements: While meeting the minimum liability requirements is crucial, consider increasing your coverage limits. This provides greater protection in case of serious accidents involving multiple vehicles or injuries.
  • Uninsured/Underinsured Motorist (UM/UIM) Coverage: This vital coverage protects you if you’re hit by an uninsured or underinsured driver. Hollywood’s traffic can include drivers who may not carry adequate insurance.  

2. Neglecting Uninsured/Underinsured Motorist (UM/UIM) Coverage:

As mentioned, UM/UIM coverage is crucial in Hollywood.

  • Protecting Yourself: Even with liability insurance, you may be left with significant medical bills and property damage if you’re hit by an uninsured or underinsured driver.
  • Florida Law: Florida law allows you to purchase UM/UIM coverage up to the limits of your liability coverage.  
  • Peace of Mind: UM/UIM coverage provides peace of mind knowing you’re protected in the event of an accident caused by a driver who lacks sufficient insurance.  

3. Ignoring Comprehensive and Collision Coverage:

Comprehensive and collision coverage protect your motorcycle from various perils.  

  • Comprehensive: Covers damage to your motorcycle from events like theft, vandalism, fire, and natural disasters.
  • Collision: Covers damage to your motorcycle in an accident, regardless of who is at fault.
  • Hollywood’s Environment: Hollywood’s coastal location and potential for severe weather make comprehensive coverage particularly important.

4. Failing to Consider Agreed Value Coverage for High-Value Motorcycles:

If you own a high-value motorcycle, agreed value coverage is essential.

  • Traditional Coverage: Traditional coverage may not fully compensate you for the true value of your motorcycle in case of a total loss.
  • Agreed Value: This coverage determines the value of your motorcycle upfront, ensuring you receive the agreed-upon amount in case of a total loss.  
  • Peace of Mind: Agreed value coverage provides peace of mind for owners of classic, custom, or high-performance motorcycles.  

5. Not Shopping Around for the Best Rates:

Insurance rates can vary significantly between insurers.

  • Compare Quotes: Obtain quotes from multiple reputable insurers to find the best rates and coverage options.
  • Consider Discounts: Take advantage of available discounts, such as those for safety courses, multiple policy discounts, and good driving records.
  • Consult with Finney Insurance Corp: Our experienced agents can help you compare quotes, identify the best coverage options for your needs, and ensure you’re adequately protected.

Why Choose Finney Insurance Corp?

At Finney Insurance Corp, we understand the unique needs of motorcycle riders in Hollywood. We offer:

  • Personalized Service: We take the time to understand your individual needs and provide tailored insurance solutions.
  • Expert Guidance: Our knowledgeable agents can help you navigate the complexities of motorcycle insurance and make informed decisions.
  • Competitive Rates: We work with multiple reputable insurers to find you the most competitive rates.
  • Strong Community Ties: As a local agency, we are committed to serving the Hollywood community.

Contact Finney Insurance Corp Today

Don’t let these common mistakes leave you vulnerable. Contact Finney Insurance Corp today for a free quote and personalized consultation. We’ll help you find the right motorcycle insurance coverage to protect yourself and your investment.

Disclaimer: This article is for informational purposes only and does not constitute financial or legal advice.

author avatar
John Finney President
Finney Insurance Corporation was founded in 2009 by John Finney in order to purchase Stirling Insurance Services Davie location. After being the Sales Manager for Ken Finney State Farm for eight years, John Finney purchased Stirling Insurance Services which had been in business for over 20 years.He knew that he wanted to be an independent agent due to the fact of the diversity of products and companies to help people, and because his potential was not limited. In short, John and his staff were tired of telling people “Sorry I can not help you”. Ken Finney’s office was closed in 2010 after 34 years of serving the community’s insurance needs due to State Farm stating they were pulling out of the state for homeowners insurance. Finney Insurance Corporation moved into Ken’s old location and hired most of his employees.It was a very difficult task to undertake without having all of the State Farm business, as it was given to other State Farm agents. Today that struggle and decision has paid off. Finney Insurance Corporation now has been growing at an incredible rate because of its diversity in an ever changing marketplace and its neighborhood agency feel for its clients. All of Finney Insurance’s staff are experienced professionals some with over 25 years in the industry. They care about the companies they represent and their customers. We are also proud members of the Hollywood Chamber of Commerce and Latin American Association of Insurance Agencies. The Finney family has been involved in the community for 34 years and plan to continue to support the community with our agency. We also want to increase our services to our clients through technology and knowledge of new insurance concepts. Once we have fully realized our potential in our current location we would like to expand to other locations in Florida through acquisitions. Our marketing, referrals, cross sales, and bond with clients is our real strength and source of increased business to date and will continue in the future. We feel by aligning ourselves with quality companies we can be successful in a mutually beneficial relationship and provide the highest quality and selection for our customers to help them with all of their insurance needs; instead saying, “Yes, we can help you with that!”

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