The Basics of Motorcycle Insurance – What You Need to Know

Getting motorcycle insurance can be a frustrating experience, given that there are so many insurers and policy types to choose from. It can be very difficult to know if the price you are being quoted is reasonable and whether or not an agent is trying to upsell you. It can even be tempting to avoid the hassle altogether by simply not getting a motorcycle insurance policy. However, it can prove far more expensive in the long run to go without a motorcycle insurance policy than it is to ensure that you are protected in the event of an accident. While motorcycle insurance policies are not necessarily cheap, there are many ways to find ones that will fit your budget, including taking the time to compare insurance rates by ZIP code and provider. You will find that the rates will vary some, but every provider has to offer you the same basic coverage points listed below:

Basic liability:

Basic liability comes standard with every motorcycle insurance policy and covers you in case you cause an accident which results in damage to another person’s property. It also covers any damage to your motorcycle resulting from an accident, even if you were at fault. When you compare insurance rates for motorcycle coverage, you will find that a basic policy is the cheapest type of policy available and is definitely affordable for most riders.

Medical costs:

A good motorcycle insurance policy should also cover any medical costs you would incur if you were to be hurt in a serious motorcycle accident. It should also provide you with coverage for a third party’s medical expenses if they were to be injured as a result of an accident you caused.

Loss of income:

Many motorcycle insurance policies offer the policy holder loss of income coverage that essentially pays them a sum equal to their lost income if they were to unable to work temporarily due to injuries sustained in a motorcycle accident. This is an invaluable clause that allows you the peace of mind and financial leeway to focus on your recovery if you were ever to find yourself in such a difficult situation.

Other parts/ Specialty coverage:

In addition to the basics covered above, you can also obtain specialty coverage for your motorcycle. For instance, if you own a vintage motorcycle, you might want to get extra coverage for rare parts that might be more expensive to replace if they were to get damaged. These costs will not be reflected in the results you would get if you were to compare insurance quotes online. The only way to get an estimate of these specialty costs is to discuss them with your insurance agent.

The best way to find a good policy that suits your coverage needs and budget is to begin by comparing motorcycle insurance rates by ZIP code. This should give you a good sense of what you should be paying for motorcycle insurance in your area. The next step is to compare insurance rates by providers specific to your region. Find ones that offer reasonable rates compared to other local providers, whose coverage plans are comprehensive and well-rounded. Also, take the time to read customer reviews – knowing how your insurer handles customers and claims is as important as understanding what constitutes a fair price for a policy.