Motorcycle Insurance
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These days, simply being careful while out and about with your bike and using safety gear is not the only protection you need! Motorcycles have a far higher rate of accidents per unit distance than cars. This is due to the exposed rider and the fact that many automobile drivers fail to see these smaller vehicles in the traffic stream.
Also, as the law and lawsuit trials become more and more “complicated,” you might even end up paying for the guy who was talking on his sell phone while driving, failed to see you and pushed you in the ditch. Of course, he had a good lawyer. And you, … well, your brand new bike is bits and pieces, not to even mention being hurt from the fall.
So, you either cough up few thousand dollars for the medical bills and fixing your bike, or contact your insurance to take care of the bill. Your motorcycle is a major investment, one that is certainly worth protecting. Making a smart insurance decision is crucial for your protection and protection of your motorcycle.
However, choosing the right insurance policy for you is much more like choosing the right bike. You want it to fit your lifestyle, but at the same time you want it to fit your budget.
And, better coverage does not necessarily mean paying more for your insurance. Based on your motorcycle, driving history, and location, instead of getting the best rate from one company, you’ll need to contact more insurance companies and get their best rates for your coverage. And the key to finding which coverage is best for you involves learning about all of the available options.
Although most US states require you to carry a minimum amount of liability coverage, other types of coverage are usually optional. Always ask your insurance representative about which laws apply in your state or city.
Let’s look at the different options.
Liability coverage
In many countries, liability insurance is a mandatory form of insurance since you’re at risk of being sued by the injured party being involved in the accident. Most US states require motorcyclists to carry a minimum amount of liability in case of third party injuries, however insurance experts recommend purchasing as much as three times the minimum in these times of expensive litigation. Liability coverage protects you if you (or another person driving your car with your permission) injure or kill someone or damage property. Liability insurance covers bodily injury and property damage that you may cause to other people involved in an accident, up to the limit of liability you select. It doesn’t cover you or your motorcycle. But it gives you a protection from a lawsuit. Also, find out if your coverage includes Guest Passenger Liability, which provides protection in the event that a passenger is injured on the motorcycle. It depends on the laws of your state and the company issuing the policy.
Collision coverage
While the liability coverage is required by law, in many cases collision coverage is optional. Why, you might ask? Collision coverage is the one that pays for the damage to your motorcycle, not the other guy’s, and it’s optional? We’ll let the lawmakers protect “the other guy” while you need a collision coverage to pay for the damage to your motorcycle when you collide with another vehicle or object. It covers the cost to repair or replace your motorcycle, regardless of who is at fault. You select a deductible, and once the deductible is met, the insurance company pays for the remaining damage. Collision insurance usually covers the book value of the motorcycle before the loss occurred - factory parts. If you get fancy and add anything extra
