Motorcycle Insurance

The premiums for motorcycle insurance are paid usually monthly but can also be paid for on an annual or bi-annual basis, sometimes for a discount. In return, the insurance company agrees to help keep the motorcyclist protected from peril and loss during the time of coverage. Should some kind of loss or accident happen during this period of coverage, the cyclist then will contact an agent with a claim and either then be paid back for costs or have them paid for directly. Usually, there will be an amount of pre-payment involved, known as the “deductible,” perhaps $500 or even a thousand dollars, that will first need to be paid before the insurance kicks in to pay for the rest of the damages. Deductibles help contain premium costs and can mean considerable savings.

At the entry-level for most offerings is that which compensates for the costs of collisions. These are the costs associated with an accident where the motorcycle rider is at fault. When the motorcyclist is not deemed responsible for the accident, the coverage can still be very beneficial with coverage like uninsured or underinsured protection. This example is what enables the motorcyclist to be covered in the event of an accident in which the other individual involved either don’t have insurance or not enough. Beyond that, there is the motorcycle coverage that is able to payout for the replacement of stolen or damaged property.

If the rider is hurt in an accident or causes injury to another during an accident, a good motorcycle policy will compensate for the costs associated, medical and otherwise. This, of course, means you are protected up to a certain amount of coverage chosen and paid for. Additionally, motorcycle insurance can help pay for transportation alternatives when the motorcycle is out of commission due to a covered event.

Motorcycle insurance is legally required in every state so individuals much purchase at least some basic level of coverage if he or she owns and operates a bike.