Motorcycle Insurance Articles
The Disneyland Model And Motorcycle Insurance Policies
2010-09-06
Finding a motorcycle insurance quote that is both reasonable and includes an amount of coverage that allows a rider to feel secure can be difficult. Motorcycle insurance is often hampered by riders who pose more risk to the company than a car driver and represent a far greater potential payout. For this reason, the amount to insure motorcycle riders is greater, as is the coverage needed to ensure that both they and their bikes are taken care of in the event of an accident. This can leave many cyclists feeling as though there are no viable options for their insurance policy, and indeed it often takes a great deal of time to find a policy that fits one's needs. One recently proposed change to the entire vehicle insurance market is to adopt what is known as the "Disneyland Model" in order to curb insurance costs.
This model uses the concept of company liability to replace that of owners or riders, and would require license plates be tied intrinsically to insurance. At Disneyland, the company itself bears all responsibility for any accidents that befall its patrons, even if the accident comes as a result of the patron themselves. If a customer of the park rides a ride that they were not meant to, or goes somewhere off-limits and is injured, the company will still pay for their damages. In a Disneyland Model of insurance, the insurer would bear all of the responsibility of any accident caused by their insured, and there would be no caps on coverage.
The Disneyland Model has been proposed as an alternative to current motorcycle and auto insurance options, as it would allow for greater coverage with less risk to the individual. It would, however, require every person obtain fully covered insurance before they could be issued a license plate. This would, in theory, make identifying those with out insurance easy, as their motorcycle or car would be without a plate. This model has the advantage of limiting the amount of risk taken on by the consumer, while increasing the amount of payout that a company is agreeing to. This model would result in an increase in overall premiums, but with a corresponding increase in coverage.
For motorcycle owners, the Disneyland Model would mean a greater level of protection for them when and if they are involved in a serious accident. They would not need to worry about medical bills or payout limits to the other driver, but could instead rest assured that they would be well taken care of. While premiums would be increased, the model does have some advantages in terms of protection over the traditional insurance model.