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The number of people who ride motorcycles in the United States is rising. Many people are looking for ways to say money at the gas pump and still be able to get where they need to go. Motorcycles are a good alternative form of transportation in most states for a good portion of the year. With the increased number of riders has come an increasing number of motorcycle accidents.
There were 4,810 motorcycle fatalities in 2006, according to figures from the National Highway Traffic Safety Administration. This is the highest number of deaths since 1981. The number of motorcycle accidents has increased for nine consecutive years in a row.
In most states, to legally ride a motorcycle, bikers are required to carry a minimum level of insurance. The liability insurance covers any damage or accidents that are caused by the motorcycle rider. It protects the people that are around you from having to pay for any of your negligence. You should check to see if your liability insurance covers guest riders as well. There are other forms of insurance coverage in addition to liability that helps to protect you as well as your investment. One thing that is important to understand is that three out of four motorcycle accidents involve some other vehicle. In a majority of cases, the other driver violates the biker’s right of way and causes a collision. The liability insurance of the other driver may cover some costs, but there are insurance products that are available to further protect the rider.
Once you have liability coverage, the next step is to decide whether or not you want to get collision insurance. This form of insurance pays for any necessary repairs on your bike that are the result of a collision. There is usually a deductible for this and your insurance company may only pay you your bike’s book value if it ends up a total loss.
The next type of insurance you can consider is comprehensive. This covers motorcycle damages that are result of accidents that do not take place on a road. Vandalism, fire, and theft are some of the situations that are covered. There also may be a deductible for comprehensive insurance. Another addendum that can be added to your policy is coverage that insures you against losses caused by uninsured drivers. It is very important that you realize that these different types of insurance products will vary depending on the state you live in as well as from one insurance company to the next. You should thoroughly review your policy to determine what the exact coverages are.
Motorcycle insurance is sometimes sold as a rider to auto insurance or another form of insurance or it can be purchased as a stand alone policy. There are several things you will need to consider as well as look for when it comes to shopping for motorcycle insurance. The cost will very, depending on where you live. In states in the north some insurance companies offer what is known as a lay-up policy. You only have to pay insurance premiums during the months that you are able to ride your bike. With this type of policy you won’t have coverage during the winter months. You should also check your policy to see if it covers safety gear. Helmets, costs, boots and gloves can all end up being destroyed in a motorcycle accident. You should check to see if your insurance policy pays to replace them. In cases where your bike is totaled, you want to find out if your insurance pays for replacement costs, the amount you owe on the bike, or the book value. There can be a very big difference in terms of price between these three values.
