An Introduction to Motorcycle Insurance Policies
Motorcycle insurance policies are designed to protect individuals in the event of an accident that involves their motorcycle, in addition to the theft of or damage to their motorcycle. Motorcycles can be particularly vulnerable to damage and theft, making this form of insurance extremely useful.
Who Needs Motorcycle Coverage?
Anyone who drives a motorcycle will need motorcyclist coverage. Even if an individual is not responsible for an accident, motorcyclist coverage can be necessary — as they could become the victim of an accident and still need their own coverage.
How Does Motorcycle Coverage Work?
Motorcycle coverage is paid base don a certain coverage period — usually anywhere from monthly to annually. For this fee, the motorcyclist is covered for the duration of the coverage period. If an incident occurs during this period, the cyclist can initiate a claim and either be reimbursed for costs or have the costs directly paid. There is generally a deductible amount, such as $500, that will need to be paid towards any damages before the insurance policy kicks in.
What Are Different Types of Motorcycle Coverage?
At its most basic, motorcycle coverage pays for collision costs — the costs that are associated with an accident in the event that the motorcyclist was to blame. Even if the motorcyclist was not to blame, the coverage may include uninsured or underinsured coverage, so that the motorcyclist will still be covered even if the other person involved in an accident doesn’t have insurance. Furthermore, motorcycle coverage can cover the costs of a stolen or damaged vehicle.
What Are the Benefits of Motorcycle Coverage?
If an individual riding a motorcycle is hurt in an accident — or hurts someone else in an accident — a motorcycle policy will pay for the medical and property costs involved, up until the amount of coverage that has been paid for. Additionally, motorcycle coverage may also be able to pay for a replacement ride service or rental vehicle so that the motorcycle rider can still get to work or school.
A motorcycle insurance policy must be procured by any individual who owns and operates a motorcycle. This is legally required in nearly every state in the United States. However, only the most basic forms of coverage are usually required.