Before you begin adding on additional coverage, you will want to first secure the minimum coverage requirements in your state for motorcycle insurance. Once you have this insurance, you will want to consider additional liability, uninsured/underinsured motorist, collision, and medical payments coverage.
Malhotra & Assoc. Insurance has a team of experts who can guide you to the right coverage for you and your needs, whether you ride daily to commute or more as a hobby. Contact us today with any questions you may have.
Liability Insurance
If you are found to be at fault for an accident, you want to have protection on hand. Liability insurance covers you for bodily injury and property damage, which can save you thousands. When you damage another person’s property, be it their mailbox, garage door, or vehicle, your insurance company will pay for the cost to repair the damage or replace the property, up to a certain value.
Bodily injury liability coverage pays for medical bills, lost wages, and damages when you cause someone else to be injured. Your insurance will pay up to the set amount of your coverage limit. You will be responsible for any remaining costs, so it is important to purchase the highest coverage limit you can afford because medical bills can be outrageously expensive.
Uninsured/Underinsured Motorist Coverage
Not everyone who drives can be counted upon to hold auto insurance. If you get into a crash with someone who does not have insurance, you will wish you had uninsured/underinsured motorist coverage. This coverage protects you from paying for damages that the other person’s insurance is not high enough to cover, making sure you don’t have to pay out of pocket, especially when the collision is not your fault.
Motorcycle Collision Coverage
You may get into a collision. Hopefully, you’re wearing your gear for protection; your motorcycle needs its own coverage. Motorcycle collision coverage pays for the damage to your motorcycle, helping you cover the cost to repair or replace your motorcycle and its parts.
If you have non-standard or customized motorcycle parts and accessories, you should consider looking into coverage options for those features, as your regular collision coverage will pay for the costs to repair or replace the standard motorcycle parts.
Something to consider with collision coverage is the value of your motorcycle. Once it has depreciated to a low enough value, it may not make sense to pay for collision coverage. Speak with an agent for personalized coverage advice.
Medical Payments Coverage
While you may hold liability coverage to pay for someone else’s medical bills and lost wages, what is protecting you and yours? Medical payments coverage will pay for necessary medical treatment for you and your passengers until payments reach the coverage limit. People with less extensive health insurance coverage will want to purchase medical payments coverage, which can be especially helpful if you have a high deductible health insurance plan.
Know that in some states you have to go through your health insurance first before the medical payments coverage will kick in. An agent can help you understand your coverage options.
Choosing Your Motorcycle Insurance Coverage
While out on the road, you want to be safe and certain that you will be protected in the event of an accident. Liability coverage will protect your finances if you cause bodily injury or property damage to someone else. Uninsured/underinsured motorist coverage pays the difference to cover your damages if the other driver does not have coverage or does not have enough coverage to pay for your damages. Collision coverage pays to repair or replace your motorcycle and its parts if you are in an accident. Medical payments coverage covers your medical bills if you or your passengers are injured while driving.
Speak with one of our insurance experts from the team at Malhotra & Assoc. Insurance for answers to all of your motorcycle insurance coverage questions!
