When you buy a motorcycle, the last thing you might be thinking about is motorcycle insurance. You are most likely wrapped up in the excitement of owning a motorcycle! The insurance part though – is more important than you think.
Every year, motorcycle crashes run-up direct costs into the billions of dollars between medical costs, lost wages, property damage, hiring defense lawyers and claims filed. This may not be something you want to think about it – but the fact is, you want to be prepared just in case it does!
A basic motorcycle policy has most of the same coverages as your normal auto policy. Liability coverage – which is injury/damage done to others. Collision coverage – damage to your motorcycle. Comprehensive coverage – theft or damage to the bike from something other than a collision, such as a fire. Uninsured/underinsured motorist – injury or damage to you and/or your property if other drivers involved have insufficient coverage.
You can also personalize your coverage to your lifestyle and your motorcycle. You may have custom and chrome parts on your bike that you want extra coverage for. You may also want coverage for personal property or accessories that are related to the bike. Roadside assistance is also available, just like on your regular car insurance!
Of course, the extra coverages will add an additional premium. Ask your insurance agent what the costs are- they can vary from company to company.
If you’re thinking about getting a motorcycle – don’t forget about the insurance too!