Regardless of where you live in the United States, motorcycle insurance is a requirement by law. It is vital to the protection of yourself, your finances and your family, should you be involved in any type of accident while riding.
What is Insurance for Motorcycles?
This type of insurance covers a variety of similar vehicles, including mopeds, scooters and ATVs. In the event of any type of loss caused by a motorcycle accident, you'll be covered up to the amount that's stated in your insurance policy.
Who is this Type of Insurance For?
Anyone who rides a motorcycle or similar type of vehicle must have this type of insurance coverage at all times.
In most cases, insurance for motorcycles is not included in umbrella insurance policies. You might, however, be able to get a significant discount on a policy if you purchase it from the same agent that provides coverage for your home or car.
How Does This Type of Insurance Work?
Riders are required to purchase coverage for themselves and for their motorcycles. Each part of the policy specifically states a certain dollar amount that the insurance company will cover should an accident occur.
After an accident, the insurance company will perform an extensive investigation into the circumstances, who was at fault and how much damage was done. Once a determination has been made, the company makes a payout to any individuals who were involved in the accident, including the policyholder, and the medical facility who provided any type of treatment, if necessary.
Different Types of Coverage for Motorcycles
This type of insurance normally includes the following coverage:
Many companies also offer additional coverage for their policyholders, including accessory loss coverage and trip interruption. Trailer transportation coverage is also an added coverage feature that many motorcyclists feel is essential, especially when transporting their bike over long distances.
Aside from this type of insurance being a requirement for riders across the country, motorcycle coverage comes with added benefits:
Peace of mind - Should you become involved in an accident, you won't have to worry about how you're going to have to pay for the damages or medical bills.
Safety from lawsuits - When you have coverage, you'll likely have access to enough money to pay off the other parties involved in the accident, and won't need to worry about subsequent lawsuits.
Trip interruption coverage - Riders love the open road. If something happens to you while on a road trip, this type of coverage will help you out with additional costs incurred while you wait for repairs.