There are risks when riding a motorcycle. In fact, there are more risks when it comes to personal safety as motorcycle riders are more exposed and more prone to sustaining critical injuries because they do not have barriers and safety features protecting them. Motorcycles also aren’t immune to theft, so purchasing motorcycle insurance is definitely a must.
The purpose of insurance for motorcycles is to lessen the burden of expenses especially when it comes to paying for medical bills and motorcycle repair. It can be also used to assist policyholders, as well as their families in case of unforeseen tragedies such as death or dismemberment due to an accident.
Understanding the Basics of Motorcycle Insurance
In most states, motorcycle owners are required to own a policy that provides basic insurance coverage that includes liability insurance (covers damages and medical expenses incurred by others during the accident), personal injury protection (covers you and your passenger’s expenses due to injuries and medical expenses), and collision coverage (covers damages to the motorcycle brought about by collision-related accidents). These are pretty much the same with auto insurance, and are standard inclusions in any type of vehicle insurance.
You can also opt to add additional coverage such as uninsured or underinsured motorist insurance (protection against uninsured or inadequately insured drivers who have no capacity to shoulder the other party’s expenses), comprehensive insurance (covers damages incurred in non-collision incidents such as vandalism, theft, freak accidents, and the like), as well as roadside assistance coverage (covers expenses for roadside assistance like towing, and allotment for food and lodging in case the motorcycle breaks down when you’re traveling).
What about coverage for custom parts, accessories, chrome and even paint?
In most cases, collision insurance covers a certain amount when it comes to accessories, custom equipment, and exteriors on top of your bike’s value. In other cases, some policies will only allot a minimal amount that will not be able to cover any modifications at all. It is important to inquire about adding additional limits to both collision and comprehensive coverage to cover any upgrades or modifications you’ve done to your motorcycle.
Getting the Best Out of Discounts
Bike insurance is more expensive compared to car insurance, but motorcycle owners can get discounts from insurance companies too. Insurance agents can give motorcycle owners big discounts depending on various factors such as the use of a helmet, protective motorcycle gear, mileage, motorcycle training courses attended, and the like.
No matter how long you’ve been riding motorcycles, there is no guarantee that you will be able to dodge any type of accident. It is important to make sure that your insurance company will be able to give you the best options in protecting yourself and your finances. Before doing business with any insurance company, it is also important to do your homework – research well and choose a company that will give you the best deal that will allow you to protect your life, your motorcycle, and help you save more money.