Motorcycle Insurance Explained

Motorcycle insurance is basically insurance for motorcycles, cars, trucks, and any other road-going vehicles. Its main function is to give financial cover against physical damage or injury caused by accidents in a motor vehicle and from liability which can also arise out of road accidents. This kind of insurance covers both the driver and the passengers in the car or motorcycle. It is usually required by law for people who own a motorcycle or who drive one frequently.

A good motorcycle insurance policy should contain all of the basic coverage you would find on a personal policy such as bodily injury and property damage liability coverage. Bodily injury and property damage liability coverage is designed to pay for medical and funeral expenses for motorcycle riders and passengers who are injured in a crash, regardless of whose fault the accident was. In addition, this coverage also covers any payments made towards repair and possible rehabilitation of the injured party. Under bodily injury and property damage liability insurance, the policyholder is protected if the driver or any passenger in the car or motorcycle is killed, disabled, or experience serious personal injuries such as brain or spinal cord damage, among others.

Roadside assistance is not covered in most policies, so riders need to consider adding this coverage to their motorcycle insurance. Roadside assistance is available through many companies and is usually a requirement for all policies, but it can also save motorcycle insurance buyers money. If you have roadside assistance, it will cover the cost of tow assistance, gas assistance, and rental car expenses if your vehicle gets damaged or stolen out of a designated part of the country. With the right amount of coverage, a roadside assistance policy can be extremely valuable.

A good motorcycle insurance policy should also provide financial protection in the event the insured party’s vehicle meets with an accident. This financial protection will cover any medical and repair expenses that are related to the accident. This coverage is called total settlement. Many states require motorcyclists to carry at least $1,500 in personal liability insurance, which provides financial protection in the event that the insured party’s vehicle gets damaged or stolen. The uninsured motorist provision in most motorcycle insurance policies helps protect passengers who were in the car when the accident happens. This provision helps to protect the policyholder’s passengers from being responsible for the financial damages if the vehicle becomes uninsured.

If you don’t already have liability and/or collision insurance, it’s a good idea to get them. Although the costs might be high initially, the savings you’ll make on auto insurance premiums will far outweigh the cost of purchasing these policies. Collision insurance, also referred to as full coverage, is more expensive because it provides collision coverage. Collision coverage provides replacement costs up to the applicable limit for repairs to your car or motorcycle, regardless of who is at fault in the accident. It’s usually required by law in most states, but some people choose to purchase collision insurance anyway.

Full coverage is very useful if your bike has special parts or is expensive. However, it’s also a good idea to purchase optional coverage, such as uninsured/underinsured motorist, or underinsured motorist insurance, to protect you in the event that you cause an accident with someone who isn’t covered by an insurance company. optional coverage, such as roadside assistance, covers the expenses you pay if you get stranded while your bike is being repaired. It’s a good idea to weigh the costs of having these policies against the price of having them.

Author: Trimwell