Motorcycle insurance is insurance coverage for motorcyclists. Even if a person doesn’t actually drive the motorcycle, they still need insurance if they own the vehicle. That’s because no matter who drives the vehicle, an accident could still occur. Insurance means the insurance company will provide financial assistance should a covered incident occur.
Every licensed motorcyclist who owns and operates a motorcycle is required by law to have motorcycle insurance. It’s much the same as for people who drive and own automobiles. Insurance is there for the protection of all. The policyholder and other drives on the street benefit when everyone has insurance. In this case, it’s motorcycle insurance.
How it works
Insurance companies will review the driving history, age and other relevant factors of the motorcyclist to determine an acceptable monthly premium. If the person is determined to be a risk, then the premium will be higher. In any case, the person must make monthly premium payments to keep the account active.
Types of coverage
There are several options available for motorcyclists when it comes to insurance. Some bikers will choose several options to ensure that they are protected. But usually, liability coverage is the least that’s required by law. Coverage types include:
1. Accessory coverage
2. Property damage
3. Medical payments
4. Physical damage
5. Bodily injury
7. Roadside assistance
There is no downside to having insurance. It’s generally affordable, assures you’ll have financial assistance following an accident, and keeps you in compliance with the law.