Motorcycle insurance is insurance specifically for motorcycles, cars, trucks, and several other road-going vehicles. Its primary function is to offer financial coverage against bodily injury or physical damage resulting from road accidents and against legal liability which can also arise from unfortunate incidents in a motorcycle. The insurance policy will pay medical expenses and rehabilitation fees for injuries suffered from a motorcycle accident.
Motorcycle insurance can be a daunting prospect. There are many factors that can be considered when determining the appropriate amount of insurance. Among the factors include the type of vehicle driven, driving history, age, experience, claims history, violations, at-fault accidents, credit history, location, and whether the insured is making payments on time. In addition, the insurance should protect against payment of costs associated with repairs to another vehicle involved in the accident, as well as any medical expenses incurred by the other vehicle’s occupants. In order to determine how much insurance coverage to purchase, it is imperative to assess the total monetary costs of damages to the other vehicle and personal injuries, if any, incurred during the crash.
Some states require that the motorcyclist have both personal injury protection and property damage coverage. This is referred to colloquially as collision coverage. Collision coverage offers coverage in the event that another vehicle is damaged or stolen during an accident. The comprehensive coverage portion of the policy extends insurance against damage that occurs both to a vehicle and its contents. The comprehensive coverage portion is designed to pay for damage that can occur even after the vehicle has been towed or wrecked. This aspect of the insurance policy is often referred to as total loss coverage.
Motorcycle insurance will pay to repair a body worn motorcycle, including parts such as a horn, frame, and motorbike parts. It will also pay to replace a motorbike engine. Many insurance companies will also include coverage for medical expenses and lost wages for passengers who are riding with you, even if they are not covered under your policy. The amount of medical expenses that motorcycle coverage pays will vary greatly. Most policies will not pay for lost wages or serious medical expenses.
Uninsured motorist coverage, also known as underinsured motorist coverage, is designed to pay for medical expenses and lost wages for people who are injured or killed in a motorbike accident. However, this type of insurance does not typically cover the damages to the bike or driver. The cost of uninsured motorist coverage usually has two premiums – one for each individual person injured in the accident, and one for the company that you have chosen to carry the insurance.
As always, it is important to shop around before settling on a specific provider of insurance. Not all insurers to provide the same services. For example, some will only cover for collision damage. Other insurers, while offering complete coverage in the event of a collision, may only offer collision coverage if you are at fault.