WEDNESDAY, APRIL 2, 2014
Most states require motorcycle owners to carry liability insurance. Liability Insurance pays the other party if the policyholder is found at fault in an accident and as a result, caused damage to someone else or their property. Typically, because damage caused by a motorcycle is less than that of an automobile, liability for a motorcycle is reasonably priced.
Other policy coverages to consider are comprehensive and collision coverage, which covers damage to the vehicle , excluding coverage for mechanical breakdown. Collision covers when your bike collides with another object, such as a tree, sign, or another vehicle. Comprehensive , also referred to as Other Than Collision, provides coverage for perils such as vandalism, theft, flood, fire. Most policies would pay up to the actual cash value of the bike.
Medical coverage for injuries to your passengers should be considered. This coverage is referred to as guest liability. This can be extremely valuable in the event you are the cause of an accident and your passenger is injured. Coverage can also be purchased to cover your injuries.
To protect against damage caused by uninsured drivers, Uninsured or Underinsured Motorist coverage can be purchased. In some states uninsured motorist coverage is limited to only covering your medical bills, while in other states you can also purchase coverage to pay for damages to the bike in the event it is damaged due to the fault of an uninsured driver.