Why Motorcycle Insurance?
Insurance for motorcycles is engineered to protect the bike owner from the many risks in sharing the road with other vehicles. Similarly, in the way that car insurance works, so motorcycle coverage also functions. This kind of a policy is engineered specifically for motorcyclists, whether one’s bike is ridden daily for work or just occasionally for a fun excursion with friends.
How it Operates
One simply needs to choose the type of insurance coverage he or she desires. Each type of coverage has various premium rates depending on how big and comprehensive the protection purchased. The more insurance coverage, the higher the premiums. (Of course, opting for a higher deductible can notably lower premium payments.) Generally, premiums for annual coverage are paid either by providing the entire cost upfront, (discounts are often provided in this case), or by paying a monthly amount. Should the rider be involved in an accident, he or she simply files a claim with the insurance provider. Once the claim is investigated and the payment authorized, the policyholder is paid for his or her losses as delineated in the policy details.
Kinds of Coverage
Bodily Injury and property damage
This component of the plan is what compensates for any expenses that arise from the injuring of other people in an accident. It also pays out for any property damage caused by the motorcyclist.
This is what compensates for costs arising from injuries the rider may have had during the accident. It also can provide payment to him or her for any lost income that is a result of being injured and unable to work.
Medical coverage covers for any treatment resulting from the accident. It also pays out for financial help for the medical expenses of any passengers one might have had during the accident.
This coverage aspect can pay for a new motorcycle if the policyholder’s is stolen or destroyed in an accident. It also can compensate for parts and repairs and for medical or liability expenses to other people involved in the accident, if you’re the one determined to be at fault.
This helps with roadside assistance, such as tire changes, battery recharges, windshield repair or towing to a mechanic.