Motorcycle Insurance is coverage for your personal motorcycle to protect you in the event of an accident. ATVs can also be covered under a personal motorcycle policy. Motorcycle insurance is not necessarily required to have, but some states may require the coverage if the motorcycle is registered for road use and the coverage may also be required if you have a loan or lien on the motorcycle.
Motorcycle insurance works in a very similar fashion as automobile insurance. Your main coverage on a motorcycle policy is your liability coverage, also known as bodily injury and property damage. The liability coverage protects you if you cause an accident. The bodily injury portion will cover any bodily harm you have cause to another. Most insurance companies sell this coverage on a per person/per accident basis, so you have one limit per person, and a total limit per accident. The property damage only has one limit and will cover any damages you have caused to someone’s vehicle or vehicles and also covers for any other property damage, such as somebody’s mail box.
Uninsured and underinsured motorist coverage is also available for purchase up to the same limit as the bodily injury coverage amount. The uninsured motorist coverage will pay for any medical payments for you and your passengers in the event that you are hit by another individual and they do not maintain insurance, you and your passengers will have coverage for your bodily injuries. The underinsured motorist coverage works exactly the same as the uninsured motorist coverage in the event that the individual who hit you does not have an adequate insurance coverage limit.
Coverage is also available for any damages to your motorcycle through comprehensive and collision deductibles, same as with your automobile coverage. Your comprehensive deductible is used when you have damages from hitting an animal, a broken windshield, and vandalism. Your collision deductible is used when you are the one liable for an accident to cover the damages to your own motorcycle. The collision deductible is also used when you have a hit and run to your motorcycle and do not know who the culprit was.
First party medical benefits are included on your motorcycle insurance to cover you and your passenger in the case of an accident. Pedestrian benefits are also included in the event that any pedestrians are injured from the accident.
Motorcycle insurance also includes accessory coverage for a specific amount but for an additional premium you can purchase a larger limit. This is a very handy coverage for people who have custom paint jobs, saddle bags, customized seats, etc. on their motorcycles.
There are also discounts that can be received on motorcycle insurance to help reduce the cost in premium. The most common discount is the motorcycle endorsement. There are also discounts for training, length of experience, and a clean driving record.
