Motorcycle Articles

If you’re going to ride a motorcycle on public roads, you’ll need motor bike insurance – not just since it’s obligatory, but also because in case of an accident you’ll need to be covered. It would be simple to just call around and get the best price, but then you’ll just get the minimum required by law. That may be what you’re looking for, but you should evaluate your options first. These are the major areas of motorcycle insurance to look for.

Coverage for Your Motor Bike

Motorbike insurance can cover repair or replacement of your motorcycle if it’s damaged or destroyed. There are two things you need to think about here: sources of damage and fault. First, damage is usually only covered if it comes from specific sources. Your bike could be stolen, vandalized, burn in a garage fire and so on. Some policies only cover damage from traffic accidents. If you want to protect your investment, you need to think about other kinds of damage. If you leave anything to chance, you should at least know what it is. Second is traffic accidents. If the other party is responsible for the damage, you can collect from their insurance. But what if they don’t have insurance, or their insurance is insufficient or it was a hit and run? What if you caused the accident? Is your bike covered then?

Do you need a policy that covers passengers on your bike? What if you loan out your bike and someone else is riding it? You also might want to check your regular health insurance. If you’re covered under that, it might make a difference in whether you choose to address the issue in your motorcycle insurance policy.

Damage to Your Motorbike

You can buy a policy that will cover repair or replacement of your motorbike if it’s damaged or destroyed. You need to look at traffic accidents and damage from other sources as well. Many motorcycle insurance policies only cover damage from traffic accidents. If you are at fault, or if the other party is uninsured, your liability insurance won’t cover damage to your property unless you have comprehensive and collision. Your bike could also sustain damage from something other than a traffic accident, like a flood, fire or vandalism. Find out under what conditions your motorcycle would be covered.

If your motorcycle is financed, the lender will probably insist that you carry coverage on it. On the other hand, if your bike is not worth very much, you may find that it’s not worth it to purchase this type of coverage at all.

Medical Coverage

If you cause damage to someone else’s person or property, you are liable. This means that they could sue you for the cost of repair or replacement of their property or for medical bills. You could end up paying out of your future earnings if you don’t have the funds on hand. Liability insurance is the part that you are required to have by law. The minimum amounts required may be different from state to state. In California, for instance, you must have $15,000 for death or injury of any one person, $30,000 for all injuries in a single accident, and $5,000 property damage. That’s enough to cover fender benders, but if you get into a serious accident and it’s your fault, that won’t go far.

You also need to think about whether others riding your motorcycle would be covered. Does your policy cover your passenger? What if you loan out your bike and someone else is riding it? You also might want to check your regular health insurance. If you’re covered under that, it might make a difference in whether you choose to address the issue in your motor bike insurance policy.

When you’re planning to buy motorcycle insurance, it’s always a good idea to get at least three or four quotes. Be sure to decide ahead of time which risks you want to insure against, and compare prices of policies that offer similar coverage.

Written by Coleen Smith Motorcycle Insurance Cost Motorcycle Insurance Company

categories: motorcycles,insurance,motorcycle insurance

Aug122010

Tags: insurance, motorcycle insurance, Motorcycles

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