Sometimes, no matter how cautious we are with our actions on the road, accidents can still happen, leading to damage or property or worse, loss of life.
Though these circumstances are beyond our control, there are actions we can take to minimize the personal and financial impact of a road accident.
For one, ensuring safety gear and practicing responsible driving habits can help mitigate a lot of negative outcomes. Another is making sure that you are adequately covered for when the unforeseen happens.
Get a motorcycle insuranc
It doesn’t matter if you’re a hobbyist or a regular cross-country rider. There are policies that will fit your needs and personal preferences. The most important thing is to gauge your risk properly and choose a policy that corresponds to your needs accordingly.
Getting a motorcycle insurance is mandatory in most states in the US, though the minimum coverage requirement varies from state to state.
The most common requirement is a basic liability insurance which does not cover injuries to you or damage to your property if you get involved in an accident. Look into these other coverage options to make sure you are adequately covered.
This coverage answers for the injuries you may cause to other people and the damage to their property. This is however inclusive of your own injuries and damages.
The collision coverage is what answers for the damage to your motorcycle if you get involved in an accident. The cost of insurance covers for the total cost of damage, following the book value of the motorcycle before the loss occurred, and less your deductible.
If the damage to your vehicle was not caused by a collision such as a fire or theft, a comprehensive coverage pays for the cost of loss or damage. This coverage however, only pays for the book value of your bike and the factory standard price of the parts so if you’ve added accessories and did some customization, you cannot hope for compensation.
Uninsured/underinsured motorist coverage
In the event that you get involved in an accident where the driver at fault isn’t insured or is uninsured/underinsured, this coverage sees to it that you still get compensated for the injuries and damages caused to your person or to your property.
This includes medical fees and payment for lost wages, among others.
Personal Injury Protection
This coverage pays for the cost of medical bills, recovery therapy, and repeat doctor visits after physical injury from a motorcycle accident.
Just like a Personal Injury Protection coverage, a medical payment coverage pays for hospital bills, but has limited coverage compared to a PIP.
Instead of paying for the book value of the vehicle minus your deductible, a replacement coverage pays for the replacement cost of the motorcycle. This is useful if you’ve made part replacements and added accessories and feature enhancements to your bike.
If you usually travel long distances using your motorcycle, a trip interruption coverage will prove very useful in case your vehicle breaks down in the middle of the trip and you’re far from home. This coverage pays for lodging, food, and alternate transportation until you can get your vehicle back on the road again.
The cost of your insurance premium will be dependent on your bike’s make and model and how you use it. If you only use your bike for occasional cross-country tours compared to the guy who uses his bike for his delivery business, it’s only fair and practical that you should get a lower premium given the lesser risk of wear and tear and possible damages from accidents.
Compare rates when shopping for a coverage and try to get lower interest rates by either taking a driving course or earning a rebate by joining a motorcycle club. There are plenty of ways to save on your motorcycle insurance premiums. But the cost is only secondary relevance. When it comes to safety, ensuring proper, adequate coverage is prime.