Motorcycle Insurance Articles
Types Of Coverage Offered Under Motorcycle Insurance
2010-11-06
Motorcycle insurance is similar to insurance that you can purchase for any other vehicle in the sense that there are mandatory and optional coverages available. However, motorcycle coverage does include certain insurance options that are not available for cars, trucks or SUVs.
Liability insurance is mandatory in most states. This will cover any injuries that you may cause to another driver, pedestrian or passenger if you cause an accident. Liability insurance also compensates a third party if you damage his or her personal property such as a vehicle or house.
Accident benefits are also a mandatory motorcycle coverage that protects a driver against financial losses as a result of an injury sustained in an accident. This coverage includes medical and dental expenses that are excluded by a health insurance plan, loss of wages and funeral expenses if someone is killed in an accident.
Collision and comprehensive coverages will pay for physical damages to the motorcycles caused by one of a number of perils. Damages caused by a collision with another vehicle, object or person are usually covered under collision, and other physical damages such as fire, theft and vandalism are covered under comprehensive. Normally, these two coverages are assessed higher premiums than for automobiles because the small size of the bike often results in heavier and more severe damage. Thus, repairs can cost a lot more.
Motorcycle riders can also choose to purchase specified perils coverage for specific kinds of damages that are listed in the policy. Some of these perils are fire, theft, hail or windstorm, explosion, riot, lightening, or a civil disturbance. This kind of motorcycle insurance does not normally include vandalism or damage caused by falling objects.
Uninsured motorist coverage is an important insurance option that will protect a driver if he or she is involved in an accident with someone who carries inadequate insurance levels or has no insurance policy in place at all. Without this insurance, the driver may be stuck paying for damages and injuries out of pocket. The driver can often sue the at-fault party, but depending on the state where the driver resides, the amounts recovered may not be enough to cover all expenses. Additionally, lawsuits can drag on for extended periods of time, and any money recovered may not be paid out for years. In the meantime, medical expenses and other costs add up and can be difficult to pay.
If you are planning on purchasing a motorcycle, then it is recommended that you research motorcycle insurance options before making your final decision. Motorcycle coverage can vary depending on the type of motorcycle, and in some cases, the insurance premiums may be more than a person expects.