Motorcycle Insurance

Why Purchase Motorcycle Insurance?

Good motorcycle insurance is designed to financially protect the bike owner and to safeguard him or her from the many perils in operating on highways and roads with other vehicles. In the same way that car insurance works, so does motorcycle coverage function. This kind of a policy is designed for motorcyclists, whether the bike is taken out daily or more occasionally for pleasure. The motorcyclist need only decide what level and types of this coverage he or she prefers. Each aspect of coverage will have varying premium rates depending on the extent of offerings in the plan and how much they pay out in the event of a loss. Opting for a higher deductible can often substantially decrease the premium payments. Usually, for annual coverage, premiums are paid by paying the entire amount upfront, (in so doing discounts are often to be had), or by paying in monthly or bi-annual installments. If a policyholder is involved in an accident, a claim should be filed in an expeditious manner with the insurance company. Once the claim has been thoroughly investigated compensation can be authorized, with the policyholder receiving a payout for the losses suffered as laid out in the details of the policy.

The following are some of the kinds of coverage offered:

• Bodily Injury & Property Damage – This is what provides compensation for the cost that result from other people being hurt in an accident. It will also provide payment for damage to property for which the motorcyclist is at fault.

• Personal Injury – This aspect of coverage will deal with the expenses resulting from injuries the rider may receive in the accident. It also can assist in replacing any lost income that is a consequence of the aforementioned injuries due to an inability to, for a time, be on the job.

• Medical – This coverage helps with the payment for any necessary procedures that arise from the accident. It also extends further financial assistance for the medical costs of any injured passengers from the accident.

• Comprehensive – This part of a plan can pay for the replacement of a policyholder’s motorcycle if it is stolen or if destroyed in an accident. It can also provide compensation for necessary parts and repairs or for medical or liability expenses to others involved in the accident, should the policyholder be at fault.

• Towing and Roadside Assistance – This provides assistance with such things as help with gas if one runs out and is stranded, tire changes, battery recharges, towing, and more.