Motorcycle Insurance

Let’s Talk Motorcycle Insurance

This type of insurance coverage offers financial protection should the motorcycle policyholder be involved in an accident that results in damage or total loss or in the event of loss by such things as theft or vandalism. Accidents on a motorbike can occur any time and any place, and you should be ready by carry the financial protection you need. Depending on the kind of coverage one obtains, the insurance provider will compensate for the total or partial amount of the losses sustained. Whether you ride to work daily with your motorcycle, or just use it for weekend excursions, or if a bike is used in the conduct of your business, you need to carry good motorcycle insurance.

Who Benefits?

This type of insurance coverage is tailored for owners of motorcycles. All who own and utilize a motorcycle are highly encouraged and, in some cases, require to have this type of insurance to cover themselves, their motorbike and others too.

Kinds of Coverage

The first type of coverage for motorcycles, known as liability coverage, protects the policyholder should he or she be at fault in an accident. In such an instance, liability is what pays out for damages to another individual (physical, bodily damage) or property (such as damage to another’s vehicle or one’s property, like taking out a mailbox and you’re deemed responsible.)
The second type of coverage is for collision protection. This pays out to handle the costs of repair or replacement of your motorcycle, regardless of who’s at fault.
The third kind of coverage is called “comprehensive.” This is what compensates a policyholder for losses to a motorcycle that are outside of a road accident. This would include such things as vandalism, theft, severe weather and other forms of naturally destructive events. (This can be required coverage if one has a loan on his or her bike.)

The Benefits

Arguably the biggest plus to obtaining good motorcycle insurance possible is the peace of mind in knowing that you are fully financially protected. This coverage protects you, your motorbike and even other people should the unexpected ever happen. Being un-insured means that you are very vulnerable and, should the worst case occur, can leave you on the hook, out-of-pocket, for many costs. This coverage is relatively inexpensive considering and most insurance companies will let the policyholder pay premiums monthly, bi-annually or yearly.