With warm weather right around the corner, you’re probably antsy to get your motorcycle out on the highway again. Motorcycles are fun and a great way to save gas. Before you take it out on the road, be sure to get some insurance on it. Here is everything you need to know about motorcycle insurance.
What it Is
Motorcycle or bike insurance provides coverage to you and your bike if you’re involved in an accident while on your bike. It can also offer protection if it’s damaged by someone else riding it or in another matter.
Who It’s For
If you own or operate a motorcycle on public highways or roads, then this is the type of insurance you need. Drivers or vehicle owners are required to have insurance in almost all the states, and this covers motorcycles as well. Vehicle and motorcycle owners must carry that state’s required amount of liability insurance but can choose full coverage.
How it Works
When you purchase a bike insurance policy, you’ll be offered different coverage. They charge a premium for the insurance, and it covers you, your passenger and anyone you let drive the motorcycle. They base your premium on several factors, including driving record, age, credit, etc. There will also be a deductible you pay with each claim.
Different Types of Coverage in Existence
As with all auto insurance policies, your motorcycle policy will offer the following coverages.
• Collision pays for repairs to your motorcycle when you hit into something or someone.
• Comprehensive pays for damages to your bike from non-collision causes like animals or storm damage.
• Uninsured /underinsured motorists pays for damages that occurred by a another driver with no insurance or not enough insurance.
• Bodily Injury/ Property Damage Liability protects you from lawsuits resulting from an accident caused by you.
• Medical payments pays medical expenses from an at-fault accident where others are injured.
The major benefit to having good motorcycle insurance is that it protects you from litigation and pays to have your bike repaired or replaced in the unfortunate circumstance where you’re involved in an accident.