Motorcycle Insurance Articles
Understanding the Terms of your Motorcycle Insurance Contract
2010-06-08
Motorcycle insurance includes many of the same coverage as automobile insurance. The main difference is that certain coverage will cost more and others will cost less. This is because a motorcycle is smaller than most other vehicles and repairs can cost more as they can sustain more damage than an SUV, truck, or other larger automobile. Before you purchase a motorcycle, you should obtain several motorcycle insurance quotes so that you have an idea of how much to budget.
Online riders insurance will give you different coverage options for you to contemplate. It is mandatory to carry liability insurance, which includes coverage for bodily injury or property damage to a third party. This will protect you in case you are at fault and you are deemed responsible for another person's injuries or damage to their vehicle. Comprehensive and collision insurance will cover damages to your motorcycle. Collision pays for damages sustained if you are involved in a collision or upset. Comprehensive insurance covers damages resulting from fire, theft, windstorm or hail, or animal collision. These two types of coverage are higher for motorcycles than for a regular automobile. You must select a certain deductible for each of these two types of coverage that you pay upon filing a claim. The insurance company will then pay the remaining portion.
Uninsured Motorist Bodily Injury covers injuries and damages that you may receive if the other driver does not carry adequate insurance coverage. The purpose of this insurance is to cover the gap between the other party's limits of liability and your medical expenses. Medical payments insurance covers medical expenses incurred if you are involved in a motorcycle accident, regardless of who is at fault. In many states, if you add collision and comprehensive coverage to your policy, you can also receive coverage for custom parts and equipment that you have used to modify your motorcycle. Such equipment is installed after market and is used to alter the appearance or performance of the bike. It is recommended that you keep photos and receipts of any modifications or alterations you have made.
Inquire about discounts when you get motorcycle insurance quotes as these can significantly lower your premiums. Such discounts include good driver, multi-product, renewal, and claims free discounts. You should also complete an approved motorcycle driver training course as well. This will provide you with the education needed to be a safe driver as well as lower your insurance rates.
Obtaining online riders insurance doesn't have to be frustrating or expensive. Ask questions and determine what your exact needs and budget are. Coverage differs for new and old motorcycles. Your insurance agent can advise you of which coverage is necessary and which will just cost you more money.