Choosing the right insurance policy is much like choosing the right motorcycle. You want it to fit your needs and lifestyle, but at the same time be within your budget. Although most states require you to carry a minimum amount of liability coverage, other types of coverage are usually optional In order to find out what coverage is best for you, it is important to understand all the options available. Liability coverage: Liability insurance covers bodily injury and property damage that you may cause to other people involved in an accident. It doesn't cover you or your motorcycle. Find out if your coverage includes Guest Passenger Liability, which provides protection in the event that a passenger is injured on the motorcycle. Collision coverage: Collision insurance covers damage to your motorcycle if you are involved in an accident. Your insurance company pays for damages, minus your deductible, caused when you collide with another vehicle or object. Collision insurance usually covers the book value of the motorcycle before the loss occurred. Comprehensive coverage: Comprehensive coverage pays for damages caused by an event other than a collision, such as fire, theft or vandalism. However, just like collision coverage, your insurance company will pay for damages, minus your deductible, and will cover only the book value of the motorcycle. Keep in mind most comprehensive and collision coverages will only cover the factory standard parts on your motorcycle. If you decide to add on any optional accessories such as chrome parts, a custom paint job, trailers or sidecars, you should look into obtaining additional or optional equipment coverage. Uninsured/underinsured motorist coverage: Uninsured/underinsured Motorist Coverage covers damages to you and your property caused by another driver who either doesn't have insurance (uninsured) or doesn't have adequate insurance (underinsured) to cover your damages. This coverage typically pays for medical treatment, lost wages and other damages. If your uninsured/underinsured motorist coverage includes property damage, then your motorcycle would also be covered under the same circumstances. Tips for the cost-conscious rider: Many factors can play a role in determining what your insurance costs will be such as your age, your driving record, where you live and the type of motorcycle you own, or being a graduate of a rider-training course. • We offer discounts on motorcycle insurance for graduates of training courses, such as the Motorcycle Safety Foundation (MSF) rider course. Riders under the age of 25, usually considered a higher risk, may see some savings by taking this course. It’s also a good idea for cyclists who have already had accidents. • Maintaining a good driving record with no violations will also help reduce your premiums. • Find out what discounts are available by calling us. Multibike discounts for those insuring more than one bike, organization discounts, if you’re a member of a motorcycle association, and mature rider discounts for experienced riders, are just a few possibilities. Keep in mind that the type, style (such as a sports bike vs. a cruiser) and age of the motorcycle, as well as the number of miles you drive a year and where you store your bike may also affect how much you pay for your premium. |
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