Information on Motorcycle Insurance
Introduction
Good motorcycle insurance is engineered to protect the bike owner from the many risks of riding. In the same way that car insurance functions so motorcycle coverage also operates. This kind of a policy is ideal for those who own a motorcycle, whether it is taken out on a daily basis for work and pleasure or just occasionally for that ride up the highway with buddies.
To start, one only needs to choose the kind of insurance coverage desired. Each type of coverage has varying premium rates that you will pay, depending on how large and encompassing the coverage is and for the levels that are chosen. The more insurance coverage chosen, the higher the premiums will be, though a higher deductible can significantly lower premium payments. You will then pay your premiums for a year of coverage either by providing the entire amount upfront, (often with a discount), or by paying monthly, in most cases. Should you be involved in an accident, you are required to file a claim in a timely manner with your insurer. Should the claim be determined as valid, you will be compensated for your costs as outlined by the type of coverage in your policy details.
Types of Coverage
Bodily Injury and property damage
This is what compensates the policyholder for any costs that arise from the injuring of other people in an accident. It also pays for any property damage as a consequence of the accident.
Personal Injury
This is what pays out for the expenses that result from any personal injuries you may have had during the accident. It also can compensate you for any lost income that is a result of you being injured and unable to work.
Medical
Medical coverage pays out for any treatment from the accident. It also provides financial protection for the medical costs of any passengers you might have had during the accident.
Comprehensive
This is the type of coverage is that can pay for a new motorcycle if yours is stolen or destroyed (“totaled”) in an accident. It also can pay for any parts and repairs. It also provides coverage for medical and liability costs to other people involved in the accident, if you are the one at fault.
Towing and Roadside Assistance
This part of a policy can assist with roadside help, such as a tire change, a battery recharge, the repair of a windshield or a tow to a garage.
Conclusion
Motorcycles are different from cars in that bikes are often stowed away for months at a time before use. Motorcycle owners are well advised to meet with an insurance provider to talk about precisely how much they ride, where and for how long will it be stored (if at all), and how often do they intend to be riding. All this helps in determining the amount of coverage and the levels of the premiums and ensuing deductibles that best meet the needs of the rider.