Choosing the Right Motorcycle Insurance

Personal injury lawyer Daniel R. Rosen
offers tips to help you select the right insurance coverage for your
motorcycle.

Choosing the
right motorcycle insurance policy is much like choosing the right motorcycle.
You want it to fit your needs and lifestyle, but at the same time be within
your budget. Although Colorado requires only $25,000/$50,000 in liability
coverage, other types of coverage are usually optional. And requirements vary
by state.

LIABILITY
COVERAGE

Liability
insurance is mandatory because it covers bodily injury and property damage to
other people. It does not, however, cover you or your bike. When you purchase
this type of insurance always ask if it also includes guest passenger
liability. This protects anyone who may be riding with you as a passenger on
your motorcycle. Even if this added protection is not included in the standard
liability insurance that you are required to have, it is a good investment to
go ahead and get it anyway.

COLLISION
COVERAGE

Most people
will also buy what is called collision insurance. This covers damages to your
bike if you are in a motorcycle accident. When you have this type of insurance,
your insurance carrier will pay for damages to your motorcycle, minus your
deductible, as long as the damages were caused by a collision with another
vehicle or object. Generally speaking, collision insurance covers the current
book or market value of the motorcycle before the accident occurred.

COMPREHENSIVE
COVERAGE

Comprehensive
coverage pays for damages caused by an event other than a collision, such as
fire, theft, or vandalism. However, just like collision coverage, your
insurance company will pay for damages, minus your deductible, and will cover
only the book or market value of the motorcycle.

Keep in mind
that most comprehensive and collision coverage will cover only the factory
standard parts on your motorcycle. If you decide to add on any optional accessories
such as chrome parts, a custom paint job, trailers or sidecars, you should look
into obtaining additional or optional equipment coverage.

MEDICAL
PAYMENTS COVERAGE

Medical
payments coverage pays for your medical expenses incurred as a result of injuries suffered in an accident. This
is extremely importantPsychology Articles, especially if you do not have health insurance.

UNINSURED/UNDERINSURED
MOTORIST COVERAGE

Uninsured/underinsured
Motorist Coverage covers damages to you and your property caused by another
driver who either doesn’t have insurance (uninsured) or doesn’t have adequate
insurance (underinsured) to cover your damages.

Leave a comment