Great Reasons Why Motorcycle Insurance Is a Must-Have

If you love your motorcycle and plan to ride it for many more years to come, consider investing in motorcycle insurance. The right policy enables you to avoid unpredicted expenses triggered by injuries, property damage, theft, acts of vandalism and various other significant threats that you couldn’t possibly control. Wise people hope for the best but expect the worst. Would you be ready to cope with the consequences of a traffic accident? Obviously you can’t predict the future, but you can do everything in your power to minimize risks by getting the best type of coverage that you can afford.

Think that your experience on the road could help you avoid a collision at any given point in time and therefore you don’t actually need motorcycle insurance to protect yourself, your passengers and ultimately your family members who may or may not ride with you? Think again. Here are two excellent reasons why motorcycle coverage is a real necessity for any biker.

First Reason: Because Advanced Training Doesn’t Eliminate all Risks

Assuming that you are an experienced biker, do you think that your advanced training really guarantees your safety on the road? Truth be told, the highest level of expertise and special skills could get you out of trouble in many situations, by enabling you to prevent an accident, but this is not a guarantee.

There are so many worst-case scenarios in which your riding skills have no value whatsoever. For instance, a huge, heavy load could fall off a truck and destroy your bike. Or a drunk driver could hit your bike parked in front of a grocery store. Not all damages sustained by your bike are the result of a traffic accident. Extreme weather conditions could also damage your bike and your personal belongings. Moreover, a gang of perpetrators could vandalize or steal your motorcycle, forcing you to invest tons of money in repairs or replacement. According to recent statistics, a motorcycle gets stolen every 8.3 minutes all across the U.S. Carolina, Florida and Texas are three of the states with the most alarming motorcycle theft rate.

These are all hypothetical threats that you should factor in. Bottom line: advanced training may allow you to profit from a substantial discount offered by your insurer, but it cannot be considered a viable substitute for motorcycle insurance. Insurance companies offer several discounts based on a wide range of factors, including age, driving history and location. To find out if you are eligible for special savings, just contact your insurance agent and ask him to shed some light on this matter. Before meeting your insurer, don’t forget to compare motorcycle insurance rates by zip code with Insurance Depot Quote to make an inspired decision.

Second Reason: You Can Personalize Your Policy as You See Fit

Uninsured motorists expose themselves to considerable risks and penalties. Limited financial possibilities shouldn’t be considered a very plausible excuse. If you can afford to buy and maintain your motorcycle, then you can certainly spare a few dollars on a monthly basis and invest them in the best insurance policy. Speaking of the right coverage, did you know that you can personalize your policy as you see fit, based on your actual needs and concerns and also on your budget limitations?

Motorcycle insurance can be broken down into various components, like liability, property damage and uninsured or underinsured coverage for instance. Liability offers you the chance to cover injury damages caused by you in an accident. Property damage insurance serves a similar purpose, enabling beneficiaries to cope with the property damage that they are responsible for, without taking money out of their own pockets to cover the losses reported by other parties.

In some states, liability insurance represents a legal requirement. Cyclists cannot purchase a motorcycle without getting liability insurance. Of course, the very best type of motorcycle coverage is the one that could get you out of trouble in almost any given set of circumstances. Whether you crash your bike into a house, need to pay for its extreme makeover required after extensive storm damage or have to pay for the medical bills reported by passengers who got injured in an accident caused by you or another rider/ driver, a full coverage insurance policy would give you the chance to put your life back on track in no time and honor your financial obligations without going bankrupt.

Several additional elements, like comprehensive or collision insurance, are designed to help you expect the unexpected. Comprehensive coverage allows beneficiaries to deal with the devastating impact of natural and man-made disasters in the form of floods, storms, wind, acts of vandalism and theft.

Collision coverage gives you the certainty that if you were to get involved in an accident (caused by you or by a different rider/driver) and your bike were to require repairs or replacement, you would be able to count on adequate financial support to pay for fixes or for a new motorcycle, depending on the gravity of the situation. Of course, both policies come with a deductible charge, meaning that you would have to put some cash on the table in the event of an accident, and the insurance company would come up with the rest. A higher deductible is associated with lower premiums, so it could give you the chance to save big in the long run.

Also, note that so-called umbrella policies are cataloged as “extra full” coverage. It is an excellent option at hand for bikers with a superior net worth who are eager to spend a little more money on increased insurance protection. Whichever kind of policy you may be inclined to purchase, make sure you understand all its features before signing on the dotted line. Analyzing rates is easier than you might think: all you have to do is to compare motorcycle insurance rates by zip code by surfing the Internet in the comfort of your own home. To evaluate a policy in terms of benefits, it is advisable to contact a lawyer or an experienced insurer before making a final call.