What are the penalties for not having motorcycle liability insurance?

motorcycles are required to have liability insurance

you're probably familiar with the fact that all car owners are required to have liability insurance, but many people don't realize that the same applies to motorcycles.

according to Articles 5 and 8 of the Motor Vehicle Damage Compensation Act, every owner of a two-wheeler must have liability insurance or liability deductible. It's important to note that this applies to all motorcycles, regardless of displacement.

large two-wheelers with a displacement of more than 125cc, as well as small scooters with a displacement of 50cc or less, are obliged to purchase motorcycle liability insurance without exception. This means that you shouldn't skip it just because you have a small scooter that you use to commute to work.

what is moped liability insurance?

motorcycle liability insurance covers your liability for damages to other people in the event of an accident. In other words, if you're riding a motorcycle and you cause an accident and injure someone, the insurance will pay for their medical bills and damages.

however, it's important to note that liability insurance doesn't cover your own damages. It doesn't cover the compensation you'd receive if you were injured, so you'll need to consider comprehensive or personal injury insurance to protect yourself.

the cost of scooter insurance varies depending on the displacement, age of the rider, and the region in which you ride, but it's not too expensive, costing just a few thousand dollars a year, so don't put it off.

fines and penalties for not having motorcycle insurance

what are the penalties for not having motorcycle liability insurance? the penalties are more severe than you might think.

fines and penalties

first, you'll be fined up to $300 for not having motorcycle insurance. remember, just being uninsured is enough to get you fined.

possible criminal penalties

if you're caught riding a motorcycle without insurance, you can be imprisoned for up to one year or fined up to 10 million won ($9,000). This is a very serious offense because it's not just a fine, but a criminal penalty.

double penalties in case of an accident

if you get into an accident, especially while uninsured, you will not only be legally responsible for the traffic accident, but you will also face criminal penalties for driving without insurance. you'll also have to pay for the victim's compensation, and it only takes one accident to change your life forever.

beware of uninsured motorcycle deregistration

did you know that you need to have motorcycle liability insurance to get a license plate? the insurance is usually renewed on a yearly basis, but it's not uncommon to buy it when you first register and then forget to renew it.

here's the problem. uninsured two-wheelers that are more than a year old without liability insurance can be de-registered by the municipality, which means it's not only a hassle to re-register them, but it also costs extra.

it's a good idea to put your policy expiration date on your calendar or use an auto-renewal service.

how to buy motorcycle liability insurance

buying liability insurance is easier than you think, and there are three main ways to do it.

first, you can sign up online through your insurer's website or app. Most insurers, including Samsung Fire, Hyundai Marine, and DB Insurance, offer motorcycle insurance.

second, you can visit an insurance agency or talk to an agent over the phone, which is recommended for those who want to hear the explanation in person.

third, you can also purchase a motorcycle from a dealer who will connect you to an insurance policy. You can easily calculate your motorcycle insurance premium on each insurer's website, so you can compare several companies.

frequently asked questions

Q1. Do scooters under 50cc need liability insurance?

yes, scooters 50cc and under are required to have liability insurance, no exceptions. The same applies to all two-wheelers, regardless of displacement.

Q2. How much does liability insurance cost for a motorcycle?

it depends on the displacement and the driver, but it can range from $20,000 to $50,000 per year for a small scooter. It can be higher for larger two-wheelers.

Q3. Is liability insurance all I need?

you are legally required to have liability insurance, but we recommend that you purchase comprehensive insurance for your own protection. Liability insurance only covers damage to other parties and does not cover your own injuries.

Q4. What happens if I forget to renew my insurance?

if it hasn't been renewed for more than a year, the local government can cancel your registration. Make sure to renew your insurance before it expires.

Q5. Do foreigners need to purchase motorcycle liability insurance?

yes, it is a legal obligation that applies to anyone who owns and operates a two-wheeler in the country.

bottom line

motorcycle liability insurance is a legal requirement, not an option. Failure to have it can lead to fines, criminal penalties, and even registration revocation, so make sure you have it now.

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