In most states, motorcycle insurance is required by local law. Having this insurance will protect you from the loss of assets, such as savings or your home, in the event that personal injuries could result in legal action against you. The insurance also covers vandalism, theft, medical bills, and damage. If you have the bike on loan or through a lease, you are generally required to purchase coverage.
This coverage is the legal amount that is required for motorcycle insurance. The amount can cover any lost wages of the injured party, whether due to disability or death. It doesn’t matter if you are at fault or if the other person may be responsible, you can still be sued and have to pay for any coverage you did not get at the time of the accident. Any property damage that occurs will be paid for replacement or repair. The insurance also covers any need for defense.
Uninsured motorist policies are available for purchase based on whether the other driver has insufficient insurance or no insurance at all at the time of the accident. In this case, you will be paid the amount needed for medical bills, lost wages, and any time needed for pain and suffering.
These costs can add up to a lot of money and having the right protection ensures that you can have the money to protect your assets. Any medical and funeral expenses that may result from an accident can also be covered through a personal injury protection policy. These cover you and the passengers of the motorcycle.
Motorcycle insurance with collision coverage pays to replace or repair your motorcycle if you’re in an accident. The accident may be the result of other drivers or a mishap with a tree. Animals are not covered for collision, but are fully covered. Being protected by motorcycle insurance gives you the coverage you need in the unfortunate event of an accident.
Here is a list of some additional accessories that you may want to purchase for your motorcycle.
• Roadside assistance will cover any necessary towing, minor repairs, and fuel or other fluids needed if you get stuck and stranded.
• Rental coverage will cover the cost of renting a replacement vehicle or motorcycle for transportation in the event of an accident.
• Trailer coverage will cover trailers used to transport the bicycle.
• Trip interruption covers any expenses incurred if the bike breaks down during a trip.
There are many more aspects of motorcycle insurance that you will need to contact your local insurance agent for details. They can help you find a policy that works for you. If you already have home and vehicle insurance, you can combine them to get discounts on your motorcycle insurance. Talking to the agent can also uncover many additional discounts that are available for certain reasons. Coverage for your motorcycle provides peace of mind knowing that you are protected.
