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May 31st, 2017

8 Things to Look for in Your Motorcycle Insurance Coverage

Road warriors. Adventure-seekers. Weekend riders. Motorcycle riders are a unique bunch, and it’s fun to bond with another rider.

Before you take your bike out on the road, consider if you’ve purchased enough motorcycle insurance coverage to protect yourself and your bike.

Coverage options

Motorcycle insurance is required in Arizona. But you have some options at your disposal. Here are some you’ll uncover as you comparison-shop:

1. Collision

This option pays for damage your motorcycle incurs in the case of an accident; however, you’ll have to pay your deductible first. Make sure you choose a policy that has a deductible you can afford.

2. Comprehensive

A deductible applies to comprehensive coverage too, which will extend to incidents like if your bike is stolen or damaged, or you get into accident with another vehicle or animal.

3. Medical payments

This option will cover medical bills that result from injuries caused by an accident. If you don’t have hefty insurance coverage, a medical payments option will offer protection.

4. Personal injury

Regardless of whose fault the accident is, personal injury protection covers medical bills associated with injuries sustained by you, a passenger or a pedestrian caused by an accident.

5. Trip interruption coverage

If you get into an accident when you’re out of town, this coverage will pay for costs you incur, like transportation, lodging and food. Usually, the accident must occur at least 100 miles or more from your home for this coverage to kick in.

6. Custom parts, accessories, equipment

In some policies, these components may be included in collision and comprehensive insurance. However, some policies won’t cover it, and you’ll need to purchase a separate policy for customized components, like saddlebags or chrome parts.

7. Transport trailer

If you drive with a trailer attached to your bike, be sure your insurance policy includes coverage for it, too.

8. Roadside assistance

You can also purchase an insurance policy for the towing of your bike if it breaks down or you get into an accident, as well as labor costs.

These 5 Insurance Tips for Arizona residents will help you find the perfect coverage option for you and your bike.

Policy payments

Your insurance policy will pay out for a destroyed or stolen bike in a variety of ways. The three types of settlements include:

  • Actual cash value. This policy will pay out the cash value of your bike based on its total worth, minus its depreciation and the deductible you owe.
  • Agreed value. When you purchase this policy, you’ll choose a settlement amount that will be paid out if your bike is stolen or destroyed.
  • Stated amount. This policy pays an agreed upon amount determined at the time the policy is purchased. This amount is fixed and there is no deductible.

Be sure you understand what you’re getting when you purchase motorcycle insurance. Learn what terms like collision and comprehensive, medical payments, personal injury, trip interruption, coverage for customer components, transport trailer coverage and roadside assistance mean so you can buy the right kind of protection for you.

Where does your motorcycle insurance lack in coverage?

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