Being a motorcyclist has its own charms and charisma. What better and refreshing way to travel than feeling the air deeply into your lungs while riding a bike. Similar to the necessity of having car insurance, if you are a motorcyclist and often go on public roads, you need to have some form of financial responsibility backing you in case of an accident. In that way, you don’t have to worry about paying off any prospective claims or damages. Your motorcycle insurance policy comes to your rescue in such situations.
Enforcement by law and benefits of having motorcycle insurance vs. car insurance may vary a lot depending on the area in which you travel. Most states and countries are enforcing riders to have valid motorcycle insurance, in the absence of which you may be charged accordingly in the form of a fine. You can say it’s similar to a fine for not wearing a helmet by a motorcyclist. More and more states are promoting the legalization of having motorcycle coverage up to a minimum, defined level.
As a responsible motorcyclist, one should opt for an appropriate insurance policy, regardless of its legal requirement in ones’ traveling area. It’s always good to have some protection in the form of insurance.
Motorcycle Insurance Coverage
You may find several options available when selecting your motorcycle insurance policy. Here’s a glimpse of common types of insurance that you may find.
Coverage in the form of damages to be paid to the other party in an accident fall under this category. For instance, if you as a motorcycle rider were at fault and caused the accident, it’s likely that the other party will sort payment against injuries or property damages. Having this insurance coverage will ensure that you don’t have to pay them off from your own pocket; rather, your insurance provider will take up the case for any such claims. Legal defense payments can also be covered in this insurance policy in the event of a lawsuit against you, subject to the terms and conditions of your policy.
How much an insurance provider can provide you protection is entirely up to you. If you sort a low limit for liability insurance, it can run out in case of a major injury or accident.
Having a sufficient limit for liability coverage is recommended.
Guest Passenger Liability
While basic liability coverage provides protection only to the rider, this insurance policy is specifically jotted down for the passenger on a motorcycle. Medical bills of a passenger are covered under this policy, which means this coverage will only apply in case of an accident caused by your negligence. When an accident happens and the other party is at fault, the onus of damages payment lies on that party or its insurance provider.
Guest passenger liability may be a part of liability insurance. If not, you may add it to the policy separately. The best way is to ask your insurance agent to explain any inclusions/exclusions.
Medical Payment Coverage
With medical payment coverage, it doesn’t matter who was at fault, as it’ll cover your medical payments in case of an accident anyway. Depending on your insurance provider, it may include ambulance and emergency fees, nursing services fees, hospitalization expenses, prescriptions, and health insurance deductibles.
Personal Injury Protection
You can opt for an upgraded version of medical payment coverage in the form of personal injury protection. Similar to the earlier policy, it also pays for any medical expenses, no matter who was at fault in the accident. To top up the coverage under the medical payment policy, you can even claim lost wages and other direct expenses such as house cleaning through this coverage.
Getting Motorcycle Insurance Discounts
Like daily shopping, when you are searching for a suitable insurance provider, you can bargain from the seller in the form of discounts offered. Most insurance companies have some kind of discount policies in order to retain old clients as well as get new additions to the clientele base.
Insurance clients who have already ensured a few of their vehicles can be offered special discounts against the inclusion of a motorcycle insurance policy. Insurance companies tend to honor good relationships with an existing customer by offering less premium on new vehicles of the same client.
In case you have installed a tracking or recovery device on your motorcycle, this gives your insurance provider an extra cushion to cater claims against theft. Since the risk of theft is substantially reduced, the insurance provider may reduce its premiums and give you a special discount.
Early Payment Discount
Make sure to ask your agent for any early payment discounts being offered. Most insurance companies have an internal policy to promote timely payment by clients or even full premium payments, and offer a sizeable reduction in due payments as a reward.
Safe Rider Discount
A motorcyclist with a clean and good riding history is a perfect client for any insurance company. If you have an accident-free clean history as a motorcyclist, you can use it to your advantage and bargain for an additional discount from your agent. Your agent will be happy to oblige a safe driver.
Discounts to Association Members
Bike rider clubs are often formed to share a deep love for bikes. Insurance companies offer a discount to members of such associations or clubs as, in this way, they can get the bulk of clients in a single go. So, if you are a member of any riding club, ask if any insurance provider is offering discounts to its members. If yes, you can reduce the premiums a bit further.
To sum up, motorcycles are a wonderful ride, and the love of bikes is shared by millions throughout the world. As a motorcyclist, you need to be extra cautious in the form of your way of driving, as it’s considered a bit more unsafe than traveling in a car. Also, motorcyclists need to ensure that they are sufficiently covered under an insurance policy to cover any possible damages in a case such unfortunate events arise.