Motorcycle Insurance

What Is It?

Good motorcycle insurance is designed to protect the owner from the many risks of being a motorcycle operator. In the same way that car insurance works, so does this motorcycle coverage. This type of policy is perfect for those who not only ride but own a motorcycle, whether it is taken out on a daily basis for work and pleasure or just occasionally for that ride up the coast with retired friends.

Types of Coverages

To start, one only needs to choose the type of insurance coverage desired. Each kind of coverage has different premium rates that you will pay, depending on how comprehensive the coverage is and for the levels that are decided upon. The more insurance coverage chosen, the higher the premiums will be, though a higher deductible can significantly lower some of these premium payments. You will then pay your premiums for a year of coverage either by providing the entire amount upfront, (often with a discount) or by paying in a structured manner, usually monthly, if the insurance company offers that as an option, which it usually does. Should you be involved in an accident, it is then up to you to file a claim in a timely manner with your insurer. Should the claim be determined as valid, they will then compensate you for your costs as required by the type of coverage you chose for your policy.

Bodily Injury and Property Damage Coverage

This coverage is what compensates the policyholder for any expenses that arise from the injuring of other people in an accident. It also pays for any property damage as a consequence of the accident.

Personal Injury

This is what pays out for the expenses that are due to any personal injuries you may have had during the accident. It also can compensate you for any lost income that is a result of you being injured and unable to work.

Medical Coverage

Medical coverage compensates for any treatment costs from the accident. It also provides financial protection for the medical expenses of any passengers you might have had during the accident.

Comprehensive Coverage

This is the kind of coverage is that can pay for a new motorcycle if yours were to be stolen or destroyed (“totaled”) in an accident. It also can pay for any parts and repairs needed after an accident. It also provides coverage for medical and liability costs to other people involved in the accident, if you are deemed to be the one at fault.

Towing and Roadside Assistance

This part of a policy can help with roadside assistance you might need, such as a tire change, the repair of a windshield, or a tow to a garage.

Major Benefits

Motorcycles are different from cars in that many riders will store their bikes away for months at a time or might even tow them as they drive a truck or van to wherever they would like to start a road trip. Motorcycle owners are well-advised to speak with an insurance provider about precisely how much they ride, where and for how long will it be stored (if at all), and how often do they intend to be regularly riding their bikes (full time, part-time or only for special occasions). For example, a hobbyist who only typically rides once or twice annually, usually when the weather is nice, will require much different insurance than one who utilizes a motorcycle for their daily commute. All this helps in determining the amount of coverage and the levels of the premiums and ensuing deductibles.