Why You Need Motorcycle Insurance

by Administrator 29. October 2021 09:31

Motorcycle insurance provides financial protection to motorcyclists in an event of an accident. The liability of those with motorcycle insurance is borne by the insurance company. The insurance is considered to be a smart investment for anyone with a motorcycle worth $5,000 or more. In most states, motorcycle insurance is compulsory and those without it are liable to fines or surrendering licenses in the event of being pulled over.

Following are the benefits of motorcycle insurance:

  • Breakdown Coverage: In case of a mechanical breakdown, a bike owner can be provided with optional coverage for repairs to the bike. So each time you visit a repair shop for fixing your bike’s transmission or engine, you will be compensated for the same.
  • Liability Coverage: In the event of an accident, if a person or his properly undergoes any form of damage, the right coverage will help you compensate for the same. This form of insurance is beneficial for new riders or those who ride in areas that are prone to accidents.
  • Underinsured/Uninsured Coverage: This coverage is helpful in case a bike owner gets into an accident with an individual who has no insurance or is underinsured. The insurance compensates for the amount over and above that is covered by the underinsured individual’s insurance.
  • Medical Payments: If the rider get injured while riding a motorbike, motorcycle insurance covers the medical bills for injuries caused. The insurance company takes care of the medical bills irrespective of who caused the accident. In some states, riders can also purchase PIP insurance for wider coverage of costs e.g. child care expenses, loss of wages due to the accident, etc.
  • Collision Coverage: This coverage compensates for the cost of repairing or replacing a motorcycle after deducting deductibles in case of a collision. It compensates up to an amount that is equivalent to the price of a similar bike in the market instead of a specific dollar limit.
  • Comprehensive Coverage: If a motorcycle is damaged due to any other factor other than a collision, motorcycle insurance covers the cost of its repairs or replacement. Such an event could be a fire, storm, theft, etc. This coverage is effective even if the bike owner is not riding it and it is simply stored away.
  • Custom Parts & Equipment: If your bike has unique parts or accessories, you can invest in coverage for the same in case of an accident. A limit is set on the amount of coverage you can claim in case of such damage. Any amount above this limit is the responsibility of the bike owner.
  • Roadside Assistances & Towing: This coverage provides roadside assistance wherein your bike will be towed to the nearest service station at a discounted rate or free of cost. It also covers issues like flat tires, battery failures, and electrical breakdown.
To know more about motorcycle insurance in Killeen, call Shawn Camp Insurance Agency, Inc., at (254)-526-0535 or visit 2705 E. Stan Schlueter Loop, Suite 101 Killeen, Texas 76542.

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Must Have Insurance Coverage

by Administrator 25. October 2021 10:19

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