Motorcycle Insurance Protects More Than Your Bike
It’s a great feeling to lay hands for the first time on your motorcycle, feels as if you have got wings to fly. I know you can’t wait to get on your motorbike and hit the road, but you should consider insuring it first.
Getting injured in an accident is traumatic enough and the other expenses of the hospitals along with the medical bills add to the nightmare.
Without an insurance, you might end up paying a fortune for the damages including the hospital bills for you as well as others, the price of fixing the vehicles and other damages. If you have an insurance, these are all covered by the company. Although insurance laws as well as coverage vary from state to state, some insurance coverages are common to many states.
If the vehicle has been wrecked in an accident, the insurance company will reimburse you the cost of your motorcycle. Damages to your motorcycle can be caused by a collision with anything such as a car, another motorcycle, a building, a tree or could be any object.
Remember that an insurance company will only pay for the original price of your motorcycle and not for the additional features.
When you are at fault in an accident and cause bodily injuries to anyone, you will be responsible for the medical expenses. Whether the victim is the driver/passenger of another vehicle or the passenger in your bike, you will be paying the hospitals bills. In case the injuries are severe and the victim is bedridden for several days, you may have to pay for his lost wages as well. And the expenses go up if anyone dies followed by the accident.
If you opt for a vehicle insurance, this will all be covered by your insurance provider under the liability coverage. Even if you damage any property in an accident, the liability coverage will pay for the repair of the property. There is a possibility that the victims may sue you for their losses. Your insurance company provides you with legal defense and protects you against the lawsuit.
If the motorcycle has been stolen, vandalized or has been on fire, the damages will be covered by the insurance company that offered you comprehensive coverage. Any event, other than the collision is covered by this section. However, the company will pay for only the factory standard parts of your motorcycle. If you have had any additional accessories like sidecars, chrome parts or a custom paint, you should check whether the company offers additional equipment coverage or not.
Uninsured / Underinsured Motorist (UIM) Insurance
If you are at the receiving end of a crash with someone else making the mistake, it might be possible that the person doesn’t have enough insurance to cover your loss. For example, if you get injured and your medical bills exceed the amount covered by that person’s insurance, you will have to pay for the rest of the bill. The UIM Insurance covers the damages caused by the injuries or death of either you or your passenger.