Motorcycle Insurance – What to look for?

Motorcycle insurance makes a surprisingly large portion of insurance claims and contracts. The reason is quite simple; more people take it because they feel the proximity to a safer future. On the other hand, motorcycle accidents are one of the foremost occurring accidents.

Motorcycle Insurance (Image Reference)

The most attractive feature of motorcycle insurance is the variety of options in coverage that you can sign up for. It can be quite a list from optional coverage for customer parts to the rider protection package which can cover serious and fatal injuries and provide your loved ones with cash benefits. Few companies offer these benefits in case of an accident regardless of who the culprit is. In this unpredictable and unforgiving world, this is a sigh of relief. The most common package offered is the personal injury protection which covers your medical bills in case of an accident. If you are in a serious accident, this package can even provide you with childcare services and expenses, and also cover up your lost income due to the unfortunate incident.

From a customer’s point of view, it is really important to be able to compare different insurance companies and different packages that they offer. While on a surface, you might be more inclined towards one particular package, you need to delve deeper since it is after all your money you will be investing. There are some features you need to look for in each package.

1. What kind of aftercare do they offer? How much would they cover and are they offering to replace parts instead of just offering a portion of their worth?
2. Do they offer discounts? Some companies might offer discounts if you apply through their online business website. Or, maybe you fall into some separate ‘Class’ of people that might be eligible for discounts at some companies.
3. Do they offer passenger insurance? Some packages and companies may cover only the driver of the motorcycle and not pay for your loved ones who might also be hurt as a passenger during the accident. Look for companies/coverage options that offer to compensate the passenger damage and injuries as well.
4. What is the policy if your bike gets stolen? Most companies say that they will replace your bike or cover the price in cash. You need to make sure whether the price they are offering is the market price of the motorcycle or the depreciated value of your vehicle. Some companies may offer market price replacement for a higher investment but maybe it is worth it if your bike is more vulnerable to theft.
5. The price of the package obviously is very important. No matter how attractive the other features are, you don’t have to bankrupt yourself to insure your bike. The insurance payments must fall within a reasonable range and thus be affordable.

In many states in U.S.A, the government mandates it on many bike owners to get motorcycle insurance. This is because it not only provides the driver with safety insurance in form of accidents but also provide benefits to the safety of the bike and its parts.