Motorcycle insurance offers financial protection in case of theft, damage, loss, or a bike accident.
What it Covers
A primary insurance policy for your motorcycle will include a portion of the costs related to damages to your motorcycle. It will also offer compensation in case you cause harm to another person or destroy their property. You can, however, customize your policy to cater for the following:
Comprehensive Coverage- pays for losses or damages due to elements other than collision. This may include damage from animals, hails and other weather disasters, and most importantly, bike theft.
Medical Payments- in case you need hospitalization or medical care
Loss or damage to your upgrades and gear, such as sidecars, custom exhaust equipment, transport trailers, and safety clothing like helmets and chaps.
Uninsured/Underinsured Coverage- offers protection in case you get into an accident with an at-fault driver who does not have enough insurance to cater for your costs.
Full replacement expenses of the bike in case it gets totaled
Kindly note that the amount of coverage you need will depend on the kind of bike you have and how you intend to use it. For instance, if you own a fast bike like a racing bike, you will spend more to insure it.
How it Works
Motorcycle insurance operates in a similar way like auto insurance. For instance, if you possess bodily injury liability and property damage coverage, any harm you cause to another person’s property is catered for by your insurance policy, according to the limits of the policy.
Liability coverage will also provide for a portion of your legal charges if the injured party presses charges against you. Again, your insurance will cover costs up to the limits you chose when buying your policy.
Depending on the type of coverage and the amount you have, your policy can also cover medical bills for you and your passengers.
Having adequate insurance coverage for your bike will protect you against the risks you are most worried about, such vandalism, theft, property damage, or weather damage.