What is Motorcycle Insurance and What Does it Cover?
Ride your bike and feel the wind on your face, but not without motorcycle insurance.
Riding your motorcycle is liberating with the thrill of the ride. It’s a great escape and an expression of freedom. But you want to be protected while riding your bike so that if something happens, you and your bike are protected.
What is motorcycle insurance?
Motorcycle insurance is a coverage which provides financial protection in case of motorcycle accidents, theft, loss, and damages. This insurance covers liability in the event that you are responsible for another person’s injuries or property damage.
The standard motorcycle insurance policy covers a portion of the costs in case of damages to your bike. It also provides enough compensation if you’ve caused damage, harm to another individual, or legal fees when accidents happen. Included in the insurance is bodily injury and property damage liability if you are at fault in the accident.
Depending on your situation, you can customize your policy to include the following:
- Medical fees if medical care is needed
- Damage or loss of gear and upgrades
- Uninsured/underinsured motorist coverage when the other driver is at fault
- Comprehensive coverage to pay for damage due to ‘other collision’ including weather damages, damage from animals, and motorcycle theft
- Full replacement of the bike if the motorcycle has been totally destroyed
It is important that you get a coverage that’s within your budget but doesn’t compromise your safety or the safety of your bike.
Do you need motorcycle insurance?
The state of Kentucky requires anyone who owns a motorcycle to have insurance coverage. So the simple answer is yes, you need motorcycle insurance. Kentucky is one of the two states with single liability limits. It is recommended to have an uninsured motorist coverage to save yourself from becoming a victim of uninsured drivers or underinsured drivers.
How much is motorcycle insurance?
Motorcycle insurance works similarly to car insurance. The price of your motorcycle insurance depends on the type of coverage you get. The more inclusions you have, the bigger the insurance payment is. For example, comprehensive coverage includes motorcycle theft or parts of it.
In case of loss, you can file an insurance claim and get the compensation up to the limits of your policy. If you have a $500 deductible, and you went through a $1,300 damage due to a collision, the insurance company will pay for the $800 while you pay for the first $500 to fully repair the bike. However, there’d be no compensation if the damage is less than the deductible amount. If you want to lower your deductible, you have to pay for premiums. If you pay a higher deductible your premiums will be lower.
Call our agents and customize your policy depending on your need.
London Insurance Agency services
Our agents in London Insurance Agency are experts in many insurance types. We are an independent insurance agency with a number of companies for your insurance needs. We offer several insurance coverages to our clients including individual life insurance, auto insurance, and many more.
Give our agents a call and make sure to protect yourself from accidents and other damages.
