Riding a motorcycle is an enjoyable activity. However, it is 27 times more likely to be engaged in an accident compared to a car. That’s the reason why you need to get it insured. Here is an informative guide to getting motorcycle insurance. This will protect yourself, whoever is riding with you, and your motorcycle.
Check the requirements
As you buy a motorcycle, you are usually required to buy liability insurance. This pays out got the injuries and damages that accrue during an accident. You have to pay for whatever is required in your state. You also have the option to buy extra liability in case you want to be protected against getting sued. This will also protect the assets involved in the accident. This also covers all the legal fees that will accrue.
The reason why this is important is that it helps protect the rest of your belongings. If you do not have liability insurance, the other party suing you can go for your properties. They’ll find a way to liquidate your assets to cover the penalties.
Know the insurance coverage options
There are four motorcycle insurance coverage options.
Collision: This pays for the damage inflicted to your motorcycle. This does not include the deductible amount. The deductible amount is the amount of money you choose upon buying your policy. This will be subtracted from the claim check.
Comprehensive: This covers any other damage that does not come from a collision. This is valid if your vehicle was stolen or if it collided with an animal. It also covers the deductible.
Medical Payments: This covers all the medical fees that accrue in a collision. It only covers the fees within the hospital. It does not extend to taking care of lost wages and other fees. This is one of the most important coverage options because it’s undeniably risky to ride a motorcycle. This will be an excellent substitute for when you do not own medical insurance.
Personal Injury Protection: This covers all the general medical fees of the individuals involved in the accident. This includes the passengers or any pedestrian involved in the accident. The people are included regardless of who was at fault for the accident. This can vary because some states ban insurance companies from selling to motorcyclists as the risk is too high.
How to get motorcycle insurance discounts
There are some discounts offered to people who cannot afford motorcycle insurance. This discount may vary from company to company. You can do some things to lessen the cost. The first is to buy another type of insurance policy from the same insurer. You may try auto insurance or homeowner’s insurance.
You can also get a discount by maintaining a clean driving record. Try to insure more than one motorcycle under the same company. You can have a discount if you happen to belong to a motorcycle riders organization or a motorcycle club.
There are plenty of ways to attain a reduced insurance cost. Just ask the insurance company for all the options so that you can act accordingly.