What Kind of Motorcycle Insurance Coverage Should You Get?

Motorcycle Accident Lawyer Gives Advice on Insurance

Motorcycle insurance provides the necessary financial protection in case of a motorcycle theft, accident or damage. Safety is the most important thing when it comes to riding motorcycles. It is widely known fact that motorcyclists are at a higher risk of getting into an accident than drivers of other vehicles.

A good motorcycle insurance policy can provide you essential protection financially. Motorcycle insurance also includes liability coverage, which provides you protection in case the accident occurs due to your fault and you are responsible for another person’s property damage or injuries. In case of an accident, first thing that you should do is consult with a qualified motorcycle accident lawyer.

How much motorcycle insurance do you need?

How much insurance you need for your motorcycle depends upon the type of motorcycle you own, as well as on how you are planning to use it. If you own a fast bike such as a sports motorcycle, then you would pay more insurance.

How motorcycle insurance works

The mechanism of your motorcycle insurance is same as car insurance. If you have third party liability coverage, then any damage you cause to anyone’s property is covered by your motorcycle insurance policy, which extends to the limits of your policy.

Your liability insurance policy also covers some portion of the costs to hire a motorcycle accident lawyer. However, the amount your insurance company will pay depends upon the limit you choose when you purchase your motorcycle insurance policy. If the cost of other party’s damages or injuries increases beyond the limit of your insurance coverage, you will have to pay for them out of your own pocket (if sued successfully). Depending upon the type and amount you pay for your coverage, your motorcycle insurance may also cover for hospital bills and treatment costs.

Types of motorcycle insurance policies

  • Liability insurance – Liability insurance provides you coverage in case of an accident that was your fault. Liability insurance covers the total cost of medical treatment as well as the cost of repairing property damages. Many states specify the amount of liability insurance coverage that is mandatory for all drivers. However, it is usually a good idea to buy insurance above your state’s minimum requirement if you can afford it; doing this will provide you with extra financial protection in case you are found guilty of negligence in an accident.
  • Collision insurance coverage – Collision coverage will pay for the repair of your vehicle in case of an accident. If your vehicle is severely damaged in an accident, and the amount of repair exceeds the actual value of your motorcycle, the coverage will pay the total cost of your vehicle. Collision coverage is not required; however, if your motorcycle is new and expensive then collision coverage is highly recommended.
  • Comprehensive coverage – This applies to all adverse situations apart from accidents, such as bad weather and theft. In such cases, comprehensive insurance coverage will provide you complete protection. If it fits your budget, comprehensive coverage is great for your vehicle.
  • Personal injury protection – Personal injury protection can help you greatly in case of an accident. The costs related to an accident can quickly pile up. This type of coverage can cover those costs. In case of an accident, personal injury protection coverage will pay for your medical bills no matter who was at fault for the accident.
  • Uninsured automobile coverage – You can choose uninsured automobile coverage to provide you and your family with financial compensation if you are killed or injured by an unidentified or uninsured driver. This policy also covers the damages to your motorcycle that are caused by an uninsured motorist, up to 25,000 dollars.

Conclusion

Safety is an important aspect to consider when riding a motorcycle. Getting an insurance plan that best suits your needs should be a priority. You should get motorcycle insurance by keeping in mind your specific requirements – for example, how and where are you planning to ride your bike. In case of an accident, it is always the best idea to get professional help from a motorcycle accident lawyer as soon as possible.

Last Updated: 03-24-2017