by Administrator
28. September 2021 09:07
Motorcycle insurance is required in most states for protection from financial liabilities in the event of an accident, natural calamity or unexpected events such as fire and theft. The insurance covers replacement costs, medical bills, repairs and the cost of fixing property that has been damaged due an accident caused by a motorcycle.
Listed below are some reasons for buying motorcycle insurance if you own a motorcycle:
- It covers Medical Expenses: Motorcyclists involved in accidents are likely to suffer from serious injuries that may require immediate medical intervention. This could lead to unexpected medical expenses that may be expensive depending on the severity and nature of injury. In order to protect yourself from such medical costs, it is advisable to invest in motorcycle insurance as it covers medical costs associated with motorcycle accidents.
- Provides Personal Injury Protection: In addition to the liability coverage under the state law, you can also purchase additional coverage for personal injury protection (PIP). This covers medical bills irrespective of whose fault it is. It also covers the medical expenses incurred by a passenger on a motor bike. However, the coverage limit is up to the value of the policy limit.
- Property Damage Coverage: This coverage provides financial protection in the form of repairs or replacement of the motor bike or other vehicle involved to a motorcyclist who is at fault. However, it is important to note that this form of insurance does not provide coverage for damage to one’s own bike.
- Underinsured/Uninsured Coverage: If the driver responsible for a motorcycle accident is uninsured or does not have a sufficient amount of coverage to cover expenses, the uninsured/underinsured coverage will offer due protection. This form of insurance covers expenses related to loss of wages and medical treatment due to an accident with an uninsured/underinsured individual.
- Roadside Assistance: This coverage provides assistance if a motorcycle malfunctions while on the road. It covers the expenses of towing the bike to the nearest point of repair and labor costs involved. Those with roadside assistance coverage receive swift professional assistance when stranded on the road due to a breakdown. The insurance company ensures your motorbike is safely towed to a repair facility nearby and you are provided with an alternate mode of transport.
- Custom Parts and Equipment: If you own a bike with unique parts and accessories, this coverage ensures those parts are replaced in case of an accident. The insurance company sets a limit on the amount of coverage it can provide for the damaged/lost parts and any amount exceeding this limit is the owner’s responsibility
