Under South Dakota penal code SDCL 32-35-113, an owner of a registered motorcycle must maintain financial responsibility via motorcycle insurance, a bond with a surety company, or a certificate of deposit for $50,000 on deposit with the South Dakota Treasurer’s office. Additionally, South Dakota requires that any registered motor vehicle carry the following minimum insurance requirements:
- $25,000 for death or bodily injury to one person
- $50,000 for death or bodily injury to two or more persons
- $25,000 for damage or destruction of property
While this coverage may seem appropriate at first, a motorcycle accident resulting in serious injury or property damage will exceed these limits. Any amount over your policy coverage limit becomes your financial responsibility. As a result, it is best to purchase additional liability insurance that better safeguards you from lawsuits and damages related to an accident.
Additionally, South Dakota is an “at fault” insurance state which means that you are liable for any damages occurring from an accident that you are deemed to be at fault in. If you do not have insurance or it is insufficient, you could face a suspended license, jail time, and lawsuits. In addition to liability insurance, optional coverage includes collision, comprehensive, uninsured/under-insured motorist, and bodily injury. At Wilcoxon Insurance Inc. in Sioux Falls, SD, we will take the time to learn about your unique circumstances to recommend the best motorcycle insurance policy that meets those needs. Call us today or stop by our conveniently located office in Sioux Falls, SD to learn more about our insurance offerings.