It is necessary to have motorcycle insurance if you own and drive a motorcycle. Without insurance, you cannot legally drive the vehicle on public roads. Failing to have insurance also leaves you vulnerable should an accident occur. In addition, coverage protects you against mishaps such as theft or vandalism. Liability coverage is also beneficial, as it insures you up to your policy limits for injury or damage to other people or damage to their property.
Motorcyclists have a higher risk of accident than car drivers. They are more vulnerable to serious injury or even death. Common types of motorcycle coverage include liability, which is required by law in all states except New Hampshire. It helps pay for any injuries or property damage that you cause. There are other optional forms of motorcycle insurance.
Collision helps pay for repairs to your motorcycle regardless of fault. This coverage pays either the actual cash value of your bike or its replacement cost. Comprehensive is for mishaps not listed under collision. Collision helps pay for repair or actual cash value or replacement cost if it’s declared a total loss. Medical payments cover medical bills you incur after an accident. This coverage sometimes covers passenger too. If you’re in a no-fault state, this is called personal injury protection coverage.
Underinsured/uninsured motorist coverage is for when a person without insurance or not enough insurance hits you. Although insurance is mandatory, there are still many people who drive without insurance. This is why underinsured and uninsured motorist coverage is extremely important. If you sustain $20,000 in damages at the fault of an underinsured driver who has $10,000 of insurance, your coverage can make up the difference. If the person has no insurance, then uninsured motorist coverage helps pay the total.
Anyone who owns a motorcycle should have motorcycle insurance. It’s a smart move, and beneficial in the long run.