Few things are as exhilarating as riding a motorcycle on a nice summer day. Whether your motorcycle is used for fun or your main means of transportation, it’s important that you carry a good insurance policy on the bike. Get the basics on bike insurance below.
Motorcycle or bike insurance is a policy much like your automobile policy. It provides coverage for you and your motorcycle if you or a passenger are involved in an accident. It also offers certain types of liability insurance that protect you against lawsuits when you cause an accident with your motorcycle.
Like auto insurance, motorcycle insurance is required in all states if you plan to operate the vehicle on public roads. You are not required to carry full coverage on your motorcycle but must carry a certain amount of liability insurance depending on the state in which you live. Each state has different legal requirements.
You pay a premium to an insurance company for insurance on your motorcycle. You’ll be offered various types of coverage. Liability insurance comes in the form of property damage/bodily injury and medical payments coverage. If you cause an accident with your bike and others are injured or killed, your bodily injury coverage will pay for legal expenses if the other individual sues you.
If you hit into something with your bike, the property damage coverage helps with that. Your medical coverage pays for medical expenses that result from a motorcycle accident.
In addition to the state-mandated liability insurance, you may also purchase the following types of coverage.
• Collision coverage pays for damages to your motorcycle when you hit into something.
• Comprehensive coverage pays for damages to your motorcycle that come from a non-collision accident, such as storm damage, deer kill, theft or vandalism.
• Uninsured /underinsured motorists coverage pays for damages to you by a driver that doesn’t have insurance or doesn’t have enough.
To many, owning and operating a motorcycle is a lifelong dream. It makes sense that you have your bike covered by motorcycle insurance.