Do I need Insurance on a financed motorcycle in Florida?

I have a motorcycle that is financed and I live in Florida. I am financed through HSBC. Is it mandatory that I have to have insurance on the motorcycle?

I don't live in Florida, but I find it HIGHLY unlikely that the bank who's financing your bike would be okay with it being uninsured. I'm sure you need not only liability insurance, but collision as well.

Hello,

I work in motorcycle insurance. From what I understand for the state of FL is that you don't need any insurance on a motorcycle (which is different from most states). This may be different in the case of a financed motorcycle, but even here I've found the exception to the rule. Some companies require it no matter what if the bike is financed, and yes with "full coverage." Other companies only require it if over a certain dollar amount is financed. Either way, I would suggest contacting HSBC about it and find out what their policy is. Then again...you do that and they may get pushy with you if they did require it, and you don't have it. Check out Foremost Insurance for insuring it. You can go to a local agent at either Farmers or Foremost and some independant agents or check out the direct sales department. Whether it is required or not, I would highly suggest at the very least having liability insurance to protect yourself and your assets in case you are at fault in an accident.

Motorcycles are not required to be insured in the state of Florida, however if you have it financed I would assume your finance company would require that (they'd be foolish not to).Best way to find out is to contact them (the finance company). I paid cash for my bike, but wouldn't dream of not having it insured.

The State of Florida doesn't require motorcycle insurance on bikes as long as the rider is above a certain age (18y/o) and always wears a helmet. If the biker is juvenile, the state has special provisions, including a special tag to warn others of the rider's lack of experience. If a Florida rider chooses to forgo the helmet (his constitutional right, per the voters) the state requires him or her to carry PIP (personal Injury Protection) of $100,000.
Most financial institutions require loan protection. If your title is being used for collateral for the loan, then the lender will require full coverage. This condition is usually made clear prior to the loan and the lender must provide proof of insurance with them listed on the policy as well.