Motorcycle Insurance 101

If you are shopping for car insurance quotes for your motorcycle you need to know what you are looking for. It is important to know that you cannot shop for motorcycle insurance with only price in mind. When it comes to motorcycle insurance in most cases you get what you pay for. It is important to read the fine print on all the motorcycle insurance policies you are considering. You need to make sure that to check the exclusions in the policy carefully so you don’t end up without coverage when you need it. The following tips will help you recognize good motorcycle insurance coverage.

Motorcycle Collision Coverage for Personal Damages

When you are looking over your potential insurance policies you want to check for collision coverage. This is the coverage that pays for the damage to your motorcycle. You will need to select a deductible amount that you will have to pay out-of-pocket, but the insurance company will cover the rest of the expenses after you pay that. With motorcycle collision cover in most cases your coverage pays for repairs regardless of whether or not you are at fault for the damage.

Comprehensive Motorcycle Coverage for your Property

Comprehensive coverage is also important to have on your motorcycle insurance policy. Comprehensive coverage is what you would use if your motorcycle is damaged by weather, hitting an animal, hitting an inanimate object, running over glass, gets vandalized, or gets stolen. Again, you will have a predetermined deductible you must pay out of pocket, but the insurance company will pay for the rest of the cost above that deductible.

Liability Insurance for Damage Caused to Others

If you are riding your motorcycle and you have an incident in which you cause damage to another person or their property you will need insurance to cover these expenses. This is where liability motorcycle insurance comes into play. Liability insurance is usually mandatory, meaning it is required by most states if you want to drive your motorcycle. Your liability motorcycle insurance will have coverage for your victims property, and bodily injuries. It does not cover your own personal damages, so you still need to have collision and comprehensive to protect your own assets and self.

Towing Coverage

If  you are in an accident while you are riding your motorcycle, or you break down in the middle of no where chances are good you will need a tow. Tow trucks can be expensive, so it can help to have coverage for this expense. You may have a deductible, but chances are it will be significantly less than paying for the full cost of towing with your insurance companies help.

Uninsured and Underinsured Motorists

If you are in an accident on your motorcycle the resulting medical expenses and property damage to your bike can really mount up. The cost of paying for these expenses may fall on someone else if you are not at fault, but if that person doesn’t have insurance, or doesn’t have enough coverage to cover your costs you may be in for a significant amount of financial hardship. Naturally, you can sue that person civilly, but if they have no assets you have little recourse for getting your expenses covered. Adding coverage for uninsured, or underinsured motorists to your motorcycle insurance policy helps you avoid these circumstances. Put simply, this coverage allows you to fall back on your own policy to cover your expenses if you are involved in an accident with an uninsured, or underinsured motorist.