If you are buying a motorcycle from a dealer, most dealers usually have their own motorcycle insurance. However, the insurance obtained through the dealer’s dealership usually only covers their entire inventory of motorcycles. Therefore, when testing a motorcycle from a private party (e.g. a random individual), you will still need to inquire whether or not you would be protected from motorcycle-accident.
However, a word of caution is that if the private party salesperson tells you that the insurance offered through the dealer’s dealership will cover the damages you incur in an accident, you should get several different quotes from various insurance companies to signing any contract.
What are your reasons of getting motorcycle insurance?
Why is it important to know whether or not your insurance policy will cover the damages you incur in an accident? You see, you will need to purchase comprehensive coverage for your motorcycle for you to be completely covered in an accident. Also, suppose you have an outstanding loan or other forms of debt against your motorcycle; it will affect your coverage accordingly.
The insurance company will increase your premium based on the greater risk you pose to them. Simply put, the less money that they have to pay out in the event of your claim, the less that they will raise your premiums. Therefore, if you ride a currently cost-prohibitive motorcycle to repair, you must consider all the angles. When comparing the cost of insurance for your motorcycle, you must also check the cost of repairing it on your own.
There are “extended” policies available through insurance companies that cover riders who have experienced accidents resulting from negligence. These policies usually increase the premium price, but the insurance company will provide all of the coverage you will need in the event of an accident of any kind. Many insurance agents suggest that riders consider obtaining these policies if they don’t have them yet.
Why? Simply put, these types of policies are very effective at protecting you if you are in an accident of your fault resulting in injuries or damages to your bike.
Another type of coverage pays for medical payments. Just about every state requires that motorcyclists carry any medical payment coverage. This coverage pays for medical expenses, which can be astronomical in some cases, to hospitals and clinics that you might have to travel to in the event of an accident. Without this coverage, you could easily find yourself paying thousands of dollars for medical bills. This type of insurance is often included in the base price of your motorcycle insurance. Still, it may also be offered as an additional rider.
Lastly, a rider is sometimes included with motorcycle insurance coverage that pays for damages to the bike. This damage is usually called “damages to property.” In the event of an accident, you might find yourself needing to purchase new equipment. You might buy a splint to keep your leg muscles from cramping as much as they would if you were sitting down.
In many cases, the damage you incur during an accident is not covered by your existing insurance. You will be left out in the cold with all of the medical bills you incur. If this were the case, having this rider added to your policy would help alleviate that issue.
Do you have what it takes to insure your motorcycle?
Let us talk about what you should do when you get into an accident that is your fault. There are a few different things that you can do. First, if you are at fault in an accident, you should try to figure out whether or not you have uninsured motorist coverage. Uninsured motorist coverage pays for the other parties’ damages if they are injured in an accident with you. If you do not have this coverage, then the other party is responsible for paying all of those medical bills.
Let us discuss what you should do when you are not involved in a traffic accident with another motor vehicle. Suppose you are a motorcycle rider and you are not licensed to drive. In that case, you should consider the safety devices that are available for you to use. You can choose some of the safety devices from including a motorcycle helmet, leather gloves, and a full face mask.
These items can significantly improve your chances of avoiding accidents and being able to stay out of them. Suppose you are the occasional motorcycle rider that rides the streets. In that case, you may not need the items that are mentioned above. That is fine because there are some different accessories that you can purchase for your motorcycle that will also protect you and your bike.
You must understand motorcycle insurance laws to be prepared when you get into an accident and are the one at fault. You should consult with your insurance agent so that you know what kind of coverage you are going to need and how you can reduce the cost of having a necessary policy. In the end, if you are riding safely and legally, then you do not need to have any motorcycle insurance policy at all.