Things to Know About Motorcycle Insurance Policies
Motorcycle insurance is essential for both safety and legal reasons. Killingbeck Insurance and Tax Preparation Services (IN) provides the same in Noblesville, Westfield, IN, Logansport, Kokomo, IN, Tipon, IN, Carmel and surrounding areas.
These are some important things to know about motorcycle insurance policies:
Types of Coverage:
Liability Insurance: This is the minimum required in most states. It covers bodily injury and property damage to others if you’re at fault in an accident.
Collision Coverage: This covers damage to your own bike caused by a collision with another vehicle or object, regardless of fault.
Comprehensive Coverage: This covers non-collision incidents, such as theft, vandalism, natural disasters, or hitting an animal.
Uninsured/Underinsured Motorist Coverage: If you’re hit by a driver with no insurance or insufficient coverage, this helps pay for your damages.
Medical Payments Coverage: This covers medical expenses for you or your passenger in case of an accident, regardless of fault.
Factors Affecting Premiums:
Rider’s Experience: New riders tend to have higher premiums due to higher risk.
Type of Motorcycle: Sport bikes and high-performance models usually carry higher premiums because they’re considered riskier.
Location: Where you live affects premiums. Urban areas generally have higher rates due to more traffic and accidents.
Driving Record: A clean driving history typically results in lower premiums, while traffic violations or previous accidents can increase rates.
Age: Younger riders tend to pay higher premiums because of the higher risk associated with less experience.
Optional Add-Ons:
Roadside Assistance: Provides help if you break down while on the road.
Custom Parts and Equipment Coverage: If you’ve modified your bike with custom parts, this coverage can help protect them.
State Requirements:
Insurance requirements vary by state. Always check your state’s regulations to ensure you have the necessary coverage.
Discounts:
Many insurers offer discounts for completing rider safety courses, bundling policies, or having multiple motorcycles on a policy.
Understanding these basics will help you choose the right coverage and ensure you are adequately protected on the road.
If you need assistance, we’re just a phone call away.