Years ago, not many people rode motorcycles, but now, with the high price of gasoline, more and more people are turning to motorcycles (and sometimes even mopeds) to get around easily while saving hundreds of dollars a year on gasoline.
If you are new to the motorcycle riding group and are looking for insurance coverage, you will find that most of the coverage you need is the same as what you need when insuring a car.
Basic Coverage You’ll Need
You’ll need to purchase these services to protect yourself just as you would if insuring a car:
Comprehensive Coverage–to pay for damage and loss from anything besides a collision such as hitting an animal or fire damage
Collision Coverage–to cover damages from hitting another vehicle, building, etc.
Uninsured/Underinsured Motorist Coverage–to cover your costs if the other driver involved in the collision doesn’t have enough coverage
Medical Payment Coverage–to cover your expenses when getting medical treatment
Towing and Labor Cost Coverage–if your bike breaks down and you have to pay for towing, you can be reimbursed for your expenses
Additional Coverage You’ll Need
Driving a motorcycle has inherent risks, not because you are an unsafe driver but because you’re bike is smaller than the cars out there, and many car drivers are not as safety minded as they should be and often don’t see motorcycles. If you work with a company such as Carole Nash, which offers motorcycle insurance, you will see that there is other coverage you should consider:
Guest Passenger Liability–This covers the expenses your passenger may incur if she is riding with you and is hurt in an accident. Unfortunately, the likelihood of being hurt in a crash on a motorcycle is higher than when you are riding in a car thanks to the lack of vehicle protection such as airbags and safety belts.
You will need to check with your insurer to see if your policy covers you if you are riding on someone else’s motorcycle. Likewise, if someone borrows your bike, you will need to see if your insurance covers him when he is using your bike.
A motorcycle can be a great way to save money on gas, and many people enjoy the freedom a motorcycle offers. However, make sure you are adequately insured so a motorcycle doesn’t end up being a cash drain in the event of an accident.