What’s Really Covered in Your Motorcycle Insurance?

Your motorcycle may be one of your most prized possessions. Your bike enables you to enjoy an exciting and enjoyable way to traverse the streets and travel the world. But given your financial and sentimental stake in your ride, you must also be wary of accidents and other threats. That’s why understanding the various facets of motorcycle insurance is crucial.

What Can My Motorcycle Insurance Policy Cover?

Like standard auto insurance policies for cars, motorcycle coverage can usually be customized, enhanced and adjusted to suit your specific situation. Carriers can help you identify and tailor coverage to satisfy legal requirements, address relevant risks and fit your budget. When exploring motorcycle insurance protections, familiarize yourself with the following standard components:

• Third-party liability coverage—This two-pronged financial shield is often legally required and typically includes coverage for the following third-party losses:
• Bodily injuries—If you’re at fault for an accident and other motorists or pedestrians are injured, your policy may offset monetary consequences.
• Property damage—If you damage someone else’s property, such as their vehicle or building, your insurance can limit out-of-pocket costs.
• Medical payments coverage—This aspect of your policy could help manage medical expenses for you and your passengers following an accident, regardless of fault.
• Collision coverage—This part of motorcycle insurance may make you eligible for payouts to help with repair costs following crashes.
• Comprehensive coverage—A policy equipped with this feature can issue aid for losses arising from fires, theft, vandalism, floods and other noncollision-related incidents.
• Uninsured/underinsured motorist coverage—If someone else is at fault for your losses but their insurance cannot cover them, this part of your policy can make up the difference.

How Does Coverage Work?

Your motorcycle insurance policy establishes a binding agreement between you and your carrier. Regular payments, known as premiums, keep your coverage active and allow you to submit a claim for financial aid following incidents involving your vehicle. In such situations, your insurer will investigate the incident and resulting losses. If approved, the resulting payout can assist with costs up to your policy limits and minus your deductible, which you’re typically responsible for handling out of pocket.

We’re Here to Help

At Insurance Tigers LLC, we stand ready to assist you in understanding and securing the proper coverage. Contact us today to learn more or to compare personalized motorcycle insurance quotes.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.