Everyone needs cover against many risks that we face in this world. Especially, motorcyclists must have coverage for their vehicles, as the risk of property damage and injuries is more for them than for those with four or more wheelers. There are different types of motorcycle insurance coverage, meeting the needs of the different vehicle types and owners’ needs.
When you buy a policy, the company might give you a pre-packaged plan including the basic coverage options or would give you the option of making your own package by adding the different types of motorcycle insurance coverage.
Liability coverage offers protection against liabilities due to property damage or personal injuries that you (the motorbike owner with the motorbike) cause to others. The damages caused to your bike and injuries caused to you are not covered under this. Some may (not a guarantee) cover the guest passenger in your vehicle during the time of the incident.
In addition to the liability cover, you can obtain a collision cover to include the damages caused to your vehicle, even when you are responsible for an accident. After deducting the agreed deductible, the repair costs of your bike would be paid by the policy.
While the above two cover against accident issues, the comprehensive one covers against other risks (non-accident) you might face including thefts, vandalism, fire and the like. The policy will list in detail about all the risks that it would cover.
If another rider causes an accident, but does not have a policy or has a policy that is not sufficient to cover your injuries, you can get protection under this coverage. The medical bills, damages and lost wages for your passengers and you would be paid by this coverage. You need to get a separate coverage for property damage.
In addition to these basic and most recommended types of motorcycle insurance coverage you can get additional coverage for safety apparel, travel loss reimbursement, trip interruption, towing, emergency road assistance, accessories and more.
You can research online or seek the help of insurance experts to decide which type of motorcycle insurance coverage (basic and optional) you need for your bike. The amount of coverage and the underwriting rules will differ by the bike you own. Depending on many factors, you can get premium discounts.