Motorcycles have long been symbols of freedom and adventure, but few things ruin those free-spirited travels more quickly than an accident on the road. While accidents are never a good experience, whether or not you have motorcycle insurance can completely change the aftermath of an accident and either make it a little bit easier to handle or a much bigger concern. Having insurance protects your finances, allows you to repair your bike if necessary, and helps cover medical bills, among other benefits. Read on to find out what motorcycle insurance covers and why you need a policy before your next ride.
Why Get Motorcycle Insurance?
Motorcycle insurance covers repairs and replacement for your motorcycle, comprehensive and collision insurance, and more. In the event of an accident or theft of your bike, your insurance policy will help pay for the damages so that you don’t need to spend out-of-pocket money to rectify the situation. A lack of insurance will not only cost you in repairs and theft situations, but may also leave you vulnerable to costly lawsuits from others involved in the accident, putting you in further debt and making it difficult to pay for other expenses as you fight the case.
In short, insurance can help you stay out of debt and manage your budgets and finances without feeling anxious about how you’ll pay for everything. If your motorcycle is worth more than $5,000, or if you rely on your motorcycle for everyday transportation, purchasing a robust insurance policy is a smart investment that can help you save thousands over time.
All states, except for Florida, require motorcycle operators to have insurance. Requirements for the amount and type of coverage needed vary by state, but drivers can get comprehensive coverage if they want to be particularly safe. This type of coverage exceeds state-mandated minimums, giving you extra protection if you need to make a claim. In general, your insurance policy should cover the following situations that you might encounter while on the road.
Bodily Injury and Property Damage Liability
Bodily injury and property damage liability insurance helps pay for damages that you may cause to other drivers or to their property in an accident. With comprehensive insurance coverage, your insurance company will cover payment of the other driver’s medical bills, if any, and for any repairs their vehicle might need. Bodily injury and property damage coverage are required in all states except for Florida and Washington, though it is recommended for drivers in those states as well. Without this type of insurance coverage, you may find yourself responsible for paying the full amount of medical and repair bills for the other party involved in the accident.
Uninsured Motorist Coverage
Accidents caused by drivers who do not have insurance or who do not have adequate insurance coverage can cost you more money unless you have a strong insurance policy of your own. Uninsured motorist coverage covers bodily injury and property damage that occurs to you in the event that the person responsible for the damage is an uninsured driver and unable to pay for it themselves. In some states, this type of insurance is required for all motorists. If your state does not require uninsured motorist coverage, consider paying a little extra on your insurance premiums to make sure that you’ll be protected financially no matter what type of insurance the other driver has for themselves.
Personal Injury Protection
Policies that include personal injury protection will help pay for your own medical expenses and lost wages, regardless of who is actually at fault. It is required in some states but only available in about half. Personal injury protection is a no-fault coverage, meaning that you do not have to prove who is responsible for the damage before getting paid. This means that you can receive compensation for your expenses more quickly under such a policy than under other types of insurance coverage, making personal injury protection a worthwhile investment if it is available in your state. Without this type of coverage, you may need to provide evidence that you were not at fault for the accident before an insurance company will help pay for your medical and repair bills.
Getting Motorcycle Insurance
Contact JMG Insurance Agency Agents for more information about motorcycle insurance or to get a motorcycle insurance quote. The agency assigns each client a dedicated customer service representative, account manager, billing specialist, and claims representative for individualized and prompt attention. The brokerage represents more than 140 carriers, making it easy to find an affordable match that provides you with the coverage you need to feel safe while on the road. In addition to its motorcycle insurance offerings, JMG Insurance Agency Agents can connect you with personal, business, life and health, and business insurance for a range of industries, making it a convenient one-stop-shop for your insurance needs.