The Main Components Of Motorbike Insurance

Written By: Coleen Smith on August 9, 2010 No Comment

If you’re going to ride a motorbike on public roads, you’ll need motor bike insurance – not simply because it’s required by law, but also because in case of an accident you’ll need to be covered. It would be simple to just call insurance companies and get the cheapest price, but then you’ll just get the minimum required by law. You should check out your alternatives before deciding if that’s what you desire. Here are the chief components of motorcycle insurance.

Medical Coverage for You and Your Passenger

The biggest risk with motorcycles is possible injury to those onthe motorcycle. There’s no steel cage, air bags or seat belt. Just a helmet and clothing. An accident that would be considered minor for cars can be deadly if there’s a motorcycle involved. If you are injured in a crash, how much would your insurance pay? Would it be enough to cover all of your medical expenses as well as living expenses until you could get back to work?

Do you need a policy that covers passengers on your bike? What if you loan out your bike and someone else is riding it? You also might want to check your regular health insurance. If you’re covered under that, it might make a difference in whether you choose to address the issue in your motorbike insurance policy.

Coverage for Your Motorbike

You can buy a policy that will cover repair or replacement of your motorcycle if necessary. There are two things you need to think about here: sources of damage and fault. First, damage is usually only covered if it comes from specific sources. Your bike could be stolen, vandalized, burn in a garage fire and so on. Some policies only cover damage from traffic accidents. If you want to protect your investment, you need to think about other kinds of damage. If you leave anything to chance, you should at least know what it is. Second is traffic accidents. If the other party is responsible for the damage, you can collect from their insurance. But what if they don’t have insurance, or their insurance is insufficient or it was a hit and run? What if you caused the accident? Is your bike covered then?

You also need to think about whether others riding your motorcycle would be covered. Does your policy cover your passenger? What if you loan out your bike and someone else is riding it? You also might want to check your regular health insurance. If you’re covered under that, it might make a difference in whether you choose to address the issue in your motor bike insurance policy.

Medical Coverage for You and Your Passenger

The biggest risk with motorcycles is possible injury to those onthe motorcycle. The only thing between you and the road is a helmet and clothing – no driver’s cage or air bags. A car accident that would be considered minor for cars can be deadly if there’s a motorbike involved. If you are injured in a crash, how much would your insurance pay? Is it enough for a potentially lengthy hospital stay and physical therapy? What if you miss work for an extended period of time while you recover?

The amount of liability insurance you should get is different from person to person. The answer probably depends on your own financial situation. How suable are you? If you have assets, such as bank accounts and real estate, an injured party is more likely to sue you for any amounts beyond what your insurance covers. What about future income? Are you studying to become a doctor or lawyer?

You should plan to get at least three or four quotes before purchasing a motorcycle insurance policy. Be sure to decide ahead of time which risks you want to insure against, and compare prices of policies that offer similar coverage.

Written by Coleen Smith Motorcycle Insurance Cost Motor Bike Insurance Quotes