With rising gas prices, motorcycles are becoming more and more popular as a means of transportation among those looking to save a dime. For many others, motorcycle riding is a passion unlike anything else. Whatever your reason is for owning a motorcycle or recreational vehicle, it is obviously in your best interest to purchase insurance to protect your investment. However, motorcycle and recreational vehicles insurance policies are a little different than traditional automobile insurance policies. Here are a few things you need to know about motorcycle and recreational vehicles insurance policies so that you can be sure you are getting the coverage you need.
A motorcycle and recreational vehicle policy offers liability and other types of coverage for your motorcycle in the event of an accident. The coverage is for listed drivers of the policy and oftentimes will not cover unlisted drivers. In most states, motorcycle insurance is required if your motorcycle is driven over the road, just like a car.
In the event of an accident, if the motorcycle driver is at-fault, the insurance policy will pay for injuries sustained by the other driver, as well as damages to their car up to the amount of liability coverage purchased. If comprehensive and collision coverage is purchased, the insurance company will pay for the at-fault driver’s injuries and property damage, after a deductible.
If you have saddle bags, chrome parts, or specialized performance parts on your motorcycle, you can purchase custom parts and equipment coverage so that these items can be replaced in the event of an accident. If your motorcycle has a mechanical failure, roadside assistance coverage can pay for items to help you get back on the road, such as a dead battery, gas or oil. If your motorcycle is completely incapacitated, roadside coverage can pay to have your motorcycle towed to a local garage.
Most motorcycle policies are annual policies and are usually priced low enough to be paid in one annual payment. In addition, they are created with your type of motorcycle in mind, so you receive the specialized coverage you need.
Don’t risk being underinsured with your motorcycle or recreational vehicle.