Is Your Beloved Motorcycle Wisely Insured?
With every powerful churn of your bike’s engine, the cool winds rush to soothe your skin as you traverse the long stretches of wide, open roads.
The ideal motorcycle ride like the scenario above must be the dream of everyone who buys a dependable and sturdy bike. The pleasing sensation that strikes a balance between tranquillity and freedom is the ultimate dream.
The not so pleasing sensation, however, is when your wheels hit a tiny rock and you begin skidding fast on the highway. Or the body rolls you experience as you hit the car in front of you when a reckless driver slams their brakes hard.
Whether you are an adrenaline junkie or a daily rider who uses a bike around town, you may want to wisely invest in your motorcycle before driving off.
Why is this wise?
According to a 2018 National Highway Traffic Safety Administration (NHTSA) report, motorcycle riders are 27 times more likely to be injured or die in a crash per miles traveled than those driving a traditional automobile. That figure is not to scare you, but the numbers do not lie.
If those statistics alone sparked a little interest in motorcycle insurance, let this article serve as a guide to getting the most complete insurance policy for you.
Motorcycle Insurance 101: Getting to Know the Basics
As with other comprehensive insurance policies, complete motorcycle insurance secures you in the unfortunate event of an accident. It may save you from head-scratching and hefty medical fees that may arise or the replacement payments that are needed to repair your motorcycle.
It can also cover the damages to you, your passenger, and other involved parties. Some additional coverages include damages brought about by theft, natural calamities, injuries, and more.
As a rule, anything of good quality does not come cheap. In return, you will be given the utmost security against financial and other liabilities that may arise from an unfortunate event.
Commonly Added Insurance Coverages
Aside from the basic coverage stated above, there are some typical additional insurance coverages. Generally, these options are considered to make your insurance policy more complete. So, please continue reading to weigh all your options before you shift gears and hit the road.
- Collision Damage Coverage
As the name might suggest, this type of coverage pays for the damages suffered by your motorcycle as the result of a collision.
The term “collision” may refer to the act of colliding with an oncoming vehicle, to the vehicle in front of you, or to stationary objects in the road such as speed bumps and traffic poles.
It may also cover certain situations such as a “hit-and-run,” where the driver at fault continues to be at large after colliding with or hitting your bike.
- Comprehensive Coverage
If you own a motorcycle, accidents are not only your source of concern.
Nationwide, reports of stolen motorcycles are fairly common, and motorcycle damages can also occur due to vandalism.
Comprehensive coverage can be added on so you can worry less about these things happening to your bike.
Collisions with animals can also be covered by a comprehensive option, so getting this policy makes you secure against these types of damages also.
Generally, comprehensive coverage offers to pay off damages resulting from “acts of God.” This may include fire, tornado, hailstorm, extreme winds, and many other similar causes.
- Customized Parts and Equipment Coverage
Is your engine guard or exhaust system upgraded?
If yes, you may want to consider adding on this type of coverage. Normally, an insurance policy only covers the basic and original parts of your motorcycle—not any aftermarket modifications that you install on your bike.
Just like you, many other motorists satisfy their cravings for a stronger and more powerful appearance to their bikes by customizing parts. Insuring these can cost you some more bucks; however, this is better than scratching your head after any accidental damages.
- Interrupted Trip Coverage
During long rides, you may be many miles away from home.
Typically, this is the worst time to be involved in an accident. But because you do not know what will happen, you should always be prepared for the worst-case scenario.
This specific type of coverage will pay the costs of important matters when you got involved in an accident away from home. Typically, these include payments for lodging and food. It can also stretch to transportation costs.
Generally, it is stipulated in your policy that “far from home” is 100 miles or more away.
- Medical Payments or MedPay
Taking a cue from the term itself, you may have realized that this insurance type covers your and your passengers’ medical fees. It can be very useful, especially if you don’t have health insurance or sufficient personal injury protection (PIP)
Unlike PIP, however, it does not cover lost wages or other fees that may result from an accident.
- Emergency Roadside Assistance Coverage
If you were involved in an accident or your motorcycle broke down in the middle of your trip, you might need some towing and labor on-site.
This coverage ensures that you can get those services that may help you get out of a dire situation.
Digging Deeper and Answering Frequently Asked Questions (FAQs)
- Is motorcycle insurance required in Florida, Georgia, Tennessee, Indiana, and North Carolina?
Though most of states require motorcycle insurance, there are some states that do not.
Florida does not mandate motorcycle coverage.
Meanwhile, if you live in Georgia, the state does require you to carry a 25/50/25 insurance policy.
These numbers mean that you must have $25,000 for injury or death of a person in an accident, $50,000 for an accident involving two or more people, and $25,000 for your personal property.
Tennessee requires a 25/50/15 policy, while Indiana mandates its motorists to have 25/50/10. North Carolina is in the upper bracket in this category, mandating their citizens to have a 30/60/25 insurance policy.
- My state does not require motorcycle coverage. Why should I consider it?
The simple answer: because accidents present a significant hazard to your life, the lives of others, and to your bike.
Your insurance can take care of your medical bills, liability to other people who are involved, payments for the total loss of your bike, damage to all properties, and so much more.
Driving without insurance is like going into the battlefield at night without night vision. Surely, it’s not required, and there are chances that you won’t be hit; however, it will put you at a great disadvantage when an unexpected turn of events unfolds right before your eyes.
Also, when you have an umbrella policy, you may be required to carry certain insurance coverage on your motorcycle.
- Why is full-coverage motorcycle insurance expensive?
This query can be answered using the statistics that we shared in the first part of this article. Those figures show that motorcycles are much more likely to get into an accident compared to other vehicles.
Additionally, the natural design of a motorcycle offers little protection to its rider compared to closed vehicles such as cars and trucks. It is also harder to spot motorcycles in blind spots because of their small frame.
Therefore, riders are more prone to major bodily injuries or even fatal ones. As a result, insurance companies consider motorcycles as high-risk.
Moreover, stolen motorcycles are almost never recovered, so the fees associated with insuring them are quite high.
Importance of Purchasing Motorcycle Insurance Policies
To summarize all of the important concepts above, here are the leading reasons why you should ensure your motorcycle.
- Insuring your motorcycle can give you unparalleled peace of mind.
- The insurance policy can offer protection not only to yourself but also to the other people around you.
- It can save you from stressful situations after an accident.
- Insurance policies can help your family members be secured if you have them as your passenger.
- It can lift a heavy burden from your family, who may need to look for ways to settle for the liabilities and damages.
- Getting insurance can save you from a lot of stress due to the repercussions of figuring things out in an accident.
Now, if this article convinced you to purchase an insurance policy for your motorbike, feel free to reach us through our quote page or call us. We will be more than happy to help you be insured and safe as you traverse the state and local roads.
Contact a DLR Group Insurance agent today to have safe and sound long rides ahead!