There’s a really good reason why motorcycle insurance is required by the government: it can be a godsend. After all, you can never know when motorcycle insurance can swoop in and save the day.
If you find yourself involved in an accident, your motorcycle insurance should somewhat soften the blow, as it can protect you from considerable loss of cash or other assets. The question, though, is: how much can you rely on motorcycle insurance? The answer to that lies in the types of coverage that are included in your policy. This article will tackle the various types, which should tremendously help if you’re still deciding on the extent of your motorcycle insurance.
Let’s begin with liability coverage. This is the most basic kind since liability coverage is mandatory.
You accidentally slammed onto an object or property? Your insurance will pay for the property damage that you’ve incurred. You were at fault in a vehicular collision? Your insurance will pay for the damage that you’ve caused to the other party (both injury and property damage). The thing with liability coverage, though, is that it won’t cover you or your motorcycle.
As mentioned above, you’d still have to shell out money straight out of your own pockets for your hospital or motorcycle expenses should your insurance be limited to liability coverage. With collision insurance, that’ll only be partly true now. Collision insurance will pay for the damage sustained by your motorcycle (less your deductible) in the event of an accident. And it doesn’t matter whether you’re to blame for the accident or not—collision insurance applies regardless of the circumstances. This is perhaps the most recommended type of optional coverage since your motorcycle will almost always suffer damage when disaster strikes.
Collision coverage is good and all, but it won’t shield you from theft, vandalism, or fire. Should you want protection against non-road hazards, go for a policy that features comprehensive coverage. With this, you wouldn’t have to worry about your beloved Harley or Ducati (or whatever your ride is) that much anymore. A policy with comprehensive coverage should help you sleep more soundly at night.
Uninsured/Underinsured Motorist Coverage
You know what’s worse than getting hit by a car or another motorcycle? It’s getting hit by one that doesn’t have insurance (or one that’s underinsured, at least). While it’s true that you practically cannot drive a car or a motorcycle without an insurance policy in your back pocket, there is still a rather sizeable segment of the population that doesn’t mind breaking the law (head over to Famous Insurance and change that if you’re in the same boat). And you’re really down on your luck if you happen to get into an accident with such individuals involved. The situation wouldn’t be so bad, though, if your policy includes uninsured/underinsured motorist coverage. This should aid in paying for medical treatment, lost wages, and other damages to you and your passengers. The damage to your motorcycle isn’t covered, though.
Uninsured Motorist Property Damage Coverage
This is quite similar to uninsured motorist coverage. The only difference is that uninsured motorist property damage coverage deals with your bike, not you and your passengers.
The decision of which kinds of coverage to go for is entirely up to you. Heck, you can opt to avail of each and every one if that’s what’s going to drown your worries. But regardless of the coverage types that are included in your policy, what’s really important is to always prioritize safety on the road. After all, it’s better to not be able to maximize your insurance rather than to exercise it due to physical injuries and whatnot.