Motorcycle Insurance protects you and your motorcycle. In most states, it is a requirement of the law and if you get caught without insurance, it can be an expensive. Motorcycle insurance rates are determined by the type of motorcycle you own and how it is used. Here are the various motorcycle insurance coverages and their purposes:
Third-party liability coverage
Covers expenses up to $200,000 that results from injury to others, or damage to their property. If the other party takes you to court, this coverage pays claims up to the limit of your motorcycle coverage, and the cost of settling the claims.
Standard accident benefits coverage
If a person is killed or injured in a motorcycle accident, this coverage covers medical bills, rehabilitation, attendant care, caregiver, and death benefits.
Uninsured automobile coverage
If you are injured or killed by an unidentified driver or by an uninsured motorist, this coverage covers medical and property damage costs for you and your family. It also covers damage to your motorcycle of up to $25,000.
If your bike is damaged because someone has vandalized it, or it was damaged by bad weather, or has been stolen, a comprehensive coverage will cover the repairs or replace your bike.
Guest passenger liability
If anyone is riding as a pillion on the back of your bike at the time of an accident, this coverage will cover their injuries and any damage to property.
You can also purchase extra coverage in addition to the mandatory minimum coverage that is required by law.