What is Motorcycle Insurance and Why Do You Need It?

Whatever vehicle you drive, you have to have an insurance product to protect you from any unexpected expenses of accidents when you go out into the streets. Road accidents could be very expensive. You would want to make sure that you are adequately covered for any accidents even if you are driving a motorcycle. Motorcycle accidents, in fact, are the most common of road accidents. Aside from accidental damage, you would also want to protect your motorcycle against theft. Motorcycles are obviously easier to steal than cars and bigger vehicles. There are a number of insurance companies providing motorcycle insurance coverages. There are several factors that you should be aware of before you go and choose the motorcycle insurance product for you. Find out what factors are considered by these insurance companies in computing for your premiums on your motorcycle insurance. You might be able to shave off some amount of savings from your premiums when you make an informed choice.

Just like your auto insurance coverage, your motorcycle insurance coverage gives you protection against damages to you and your motorcycle as well as to third parties damaged as a result of your negligence. This includes all vehicles that have open-air driver’s seating and a hand-grip device as a steering mechanism. Liability, medical, and uninsured motorist coverage are often included in most motorcycle insurance policies. Certain exclusions would apply depending on the concerned insurance company. Most motorcycle insurance coverages would exclude coverage for loss of use damages. Make sure that all the details of your motor insurance coverage are clear to you before turning in your application form and remitting your premium. You would want to know that you have the coverage that you need.

Get several quotes from different insurance providers to see which one could give you the best deal. Often, these insurance companies would offer you lower premium rates when you have security features on your motorcycle or when you indicate the safety measures you undertake in order to keep your motorcycle safe. Watch the insurance coverage amount. There is absolutely no sense in jacking up the amount of your coverage. This would only increase your premiums further without really adding any value to your coverages since you will only be entitled to claim up to a maximum amount of the actual replacement cost. Peg your insurance coverage for own damage at only the fair market value to ensure reasonable premium rates. Keeping your mileage low can also bring down your premium’s rates.