Everything You Need to Know About Motorcycle Insurance
Your recovery after a motorcycle accident will depend on the quality of your coverage, so choose insurance that is right for you. Whether you’re purchasing motorcycle insurance for the first time, or planning to switch to another provider, it is important to know the ins and outs of specialty insurance coverage. For help with making an informed decision, use the information contained in this FAQ provided by the knowledgeable motorcycle accident lawyers at Wilshire Law Firm.
Do I Really Need Motorcycle Insurance?
You don’t really have a choice. You must have a policy taken out on your motorcycle in order to operate it legally. That being said, you have a wide range of coverage options available. While it’s recommended that you purchase a policy with adequate coverage limits, it’s certainly not required.
What Are the Different Types of Motorcycle Insurance Coverages?
In addition to liability coverage (which is mandatory), you can get collision insurance, comprehensive coverage, and uninsured/underinsured motorist coverage (all optional). More details are below:
- Liability Insurance covers injuries and property damages suffered by others in an accident you caused.
- Collision Insurance pays for damage to your motorcycle, less your deductible, regardless of who is at fault.
- Comprehensive Coverage covers non-accident related risks, such as fire, theft, and vandalism.
- Uninsured/Underinsured Motorist Coverage protects you if you’re in an accident with an at-fault driver who doesn’t carry liability insurance, or whose liability limits are too low to cover your damages.
How Much Will My Motorcycle Insurance Be?
It depends on multiple factors including the type, style, and age of your motorcycle, as well as the number of miles driven per year and storage used.
Can I Customize My Motorcycle Insurance Policy?
Yes, most insurance companies allow customers to tailor their own policies to their own specific needs. You may want to consider adding certain types of coverage to your policy according to your age, budget, type of motorcycle, and riding frequency.
When Do I Know I’ve Found the Right Motorcycle Insurance Policy for Me?
When narrowing down the list of potential candidates, take into consideration your own needs. Don’t be stingy – after all, it’s your health and financial well-being on the line here. However, don’t go overboard either – you may not need everything a policy has to offer. The basic rule of thumb is to select the policy that both meets your requirements AND is reasonably priced.
How Can I Get Discounts on Motorcycle Insurance?
The key to bringing down motorcycle insurance premiums is to show that you’re a low-risk rider. One way of accomplishing this is to take a Motorcycle Safety Foundation rider course – this may land you up to 15% off your motorcycle insurance premium!
Have you been in a motorcycle accident caused by another party? If so, call Wilshire Law Firm at (800) 522-7274 to learn about your rights and legal options in a FREE case evaluation. Let us help you get started on the road to recovery!