Motorcycle insurance is all about protecting you. No one goes into a motorcycle ride thinking they’ll get in an accident—but it happens, and the sooner you can fix your bike, the better. So, you need to be prepared. Motorcycle insurance covers your medical expenses and lost wages if you’re involved in an accident and provides protection against costs associated with repairing or replacing damaged property and bodily injury. Here are 8 ways you’re protected when you have motorcycle insurance.
1. Medical Expenses
Medical expenses are the number one reason most motorcycle insurance policies payout. When you’re riding, your physical health is in top form, but that doesn’t mean you won’t become injured. Anytime your body experiences shock or trauma, your health will deteriorate. If you ever need to see a doctor or have stitches or hospitalization costs covered, these can easily add up to thousands of dollars. For instance, a rider who requires stitches might take time off work. His employer could suffer an employee loss if he’s not reimbursed for their medical expenses. Motorcycle insurance also covers physical therapy or other treatments you might need after an accident.
2. Property Damage
Motorcycle insurance is designed to protect you from being responsible for damage to property belonging to someone else. For example, let’s say you’re riding in your neighborhood when an animal dashes across the street. You swerve to avoid it and run into a parked car. The car owner will be upset, but with motorcycle insurance, you don’t have to worry about being held responsible for the damage you caused.
3. Personal Injury Protection (PIP)
This insurance coverage is designed to cover you for costs associated with injuries sustained in an accident and lost wages while recovering. Many people don’t understand that PIP covers them from being held responsible for the medical bills and lost income of the person injured in the crash. Here, let’s say you’re riding your motorcycle down the road and get hit by a car. You’re injured in the accident, but even more than that, the car’s driver is also hurt. Fortunately for you, motorcycle insurance comes to your rescue with PIP to cover your expenses and lost wages while you recover.
4. Accident Benefits
This insurance coverage means you won’t have to worry about covering your medical expenses if you’re injured in a wreck. This mandatory coverage, in most states, is specifically designed to protect self-employed people and anyone else who doesn’t carry health insurance. For instance, let’s say you’re getting ready to ride your bike when a piece of debris strikes you in the head, causing a brain injury. Without this coverage, you would have to pay for hospitalization costs or rehabilitation care.
5. Accidental Death and Dismemberment (AD&D)
Accidents happen, but that doesn’t mean they can only happen to you. If you’re riding with a passenger, this protection will cover their medical expenses if they’re hurt in a wreck. It’s also important to note that AD&D will provide compensation for the loss of support for your family. This coverage is so critical that most insurance carriers mandate it. For example, let’s say you’re on a motorcycle trip when an accident occurs. You get thrown from the bike, and your passenger is also hurt. AD&D will cover both of your expenses. This is so important that insurance companies won’t even issue a motorcycle policy unless it includes AD&D.
6. Theft Coverage
This coverage protects homeowners if they lose their bike because of a burglary or other similar acts of crime. It’s compulsory coverage in many states and comes automatically with some motorcycle insurance policies. For example, someone breaks into your house and steals your computer because they think it has money. For instance, if you rented any of the Harley Davidson rentals and it was stolen, your motorcycle insurance will cover the loss of your vehicle and provide cash for a replacement.
7. Uninsured and Underinsured Motorist Protection (UM/UIM)
This coverage protects you specifically against injuries or death caused by drivers who don’t have insurance or don’t have enough insurance to meet your needs. The majority require this coverage from insurance carriers, and it’s an enormous benefit for you and a significant cost saving for your company. For instance, let’s say you’re riding down the highway when a driver on the other side of the road changes lanes without checking their blind spot. This driver hits you and runs away. Without this protection, you might be forced to pay for your medical expenses out of pocket. This coverage is also critical if your car is stolen. Your motorcycle insurance will compensate you for the loss of your vehicle, but only if it’s determined that it was an uninsured or underinsured driver.
8. Financial Responsibility
If your motorcycle is stolen, this coverage protects against any damage caused by a wreck. If you’re found to be at fault for a crash, the insurance company will pay for the cost of repairs to any property damaged in the crash. Financial responsibility coverage is mandated in every state, and it’s also a significant cost saving because it protects you from being responsible for the costs associated with your negligence. For example, let’s say you’re headed home, and someone runs a stop sign without stopping. If you hit that driver, it will be your responsibility to fix the damage to your vehicle. However, with this coverage, the insurance company will cover the repairs.
Before you hit the road, remember that motorcycle insurance protects you. The right coverage can help prevent costly mistakes by covering your medical and legal expenses so you can focus on getting back on the road quickly. Talk to a life insurance agent to learn more about what kind of coverage is right for you. With the right insurance policy in place, you can get back to riding as soon as possible. You might also find it helpful to talk to an insurance agent about discounts you may be eligible for, such as multi-vehicle coverage.