Riding on the open road on a motorcycle is fun and adventurous, but it is not without risk. The National Traffic Safety Administration reports that motorcycle riders have a 35 times higher rate of being injured in an accident. For this reason, it is essential to have sufficient motorcycle insurance coverage.
Understanding Motorcycle Insurance
Insurance protects you against expenses associated with bodily injury and property damage. In addition to motorcycles, this insurance covers scooters, vintage bikes, street sport bikes, cruisers, ATVSs and mopeds. The amount and type of insurance you will need varies depending on the laws in your state.
Types of Insurance Coverage
There are various types of insurance coverage for motorcycles. Before you purchase any policy, determine the types of coverage that best suit your situation.
Property Damage Liability covers you if you damage another person’s property with your motorcycle.
Roadside Assistance provides coverage for mechanical breakdowns on the road.
Bodily Injury Liability protects you and your passengers in case of personal injury in an accident.
Comprehensive Collision pays for damages to your motorcycle as a result of an accident.
Benefits of Insurance Coverage
In many states, it is against the law for motorcycle riders to be uninsured. The primary benefit of having insurance is to be compliant with your state’s law.
Another benefit of having insurance is you will not be financially liable for injuries or property caused by a motorcycle accident. By having a sufficient amount of insurance coverage, your insurance company will have to shoulder the financial responsibilities of your motorcycle accident. Without insurance, one accident can financially ruin you.