One of the unsaid rules of the road is that you should consider yourself the only sane driver on the road. This applies to both 4-wheeled and 2-wheeled vehicles. No matter how careful you are, you need to ensure that you, your motorcycle, and your finances are safe anytime you hit the road.
One of the best ways to guarantee this protection is by making sure you have the appropriate insurance coverage. For instance, if your motorcycle is stolen or vandalized, comprehensive insurance coverage has you covered. However, there is more to insurance than just theft and vandalism.
We’ve prepared a detailed guide on the various motorcycle covers to consider.
Liability
The law in Atlanta requires drivers to have liability insurance that covers property damage and bodily injury. This kind of insurance helps by covering your legal responsibility to any other driver when you are at fault in an accident. The insurance also helps cover any legal expenses in the occurrence that you get sued.
Bodily injury liability covers all the other driver’s medical expenses, including their suffering, pain, and lost wages. On the other hand, property damage liability will typically cover the repairs done to the other party’s property—for example, a fence, house, or car.
Collision Coverage
Collision coverage covers damage to your motorcycle during an accident. You will probably need to pay your deductible for most companies, while the insurance generally covers the bike’s book value before the loss.
Underinsured/Uninsured Motorist Coverage
This type of insurance helps cover the damage done to your bike and even yourself when a driver without insurance, or whose coverage does not meet all the damages in the accident, hits you. This type of insurance can cover things like lost wages, and medical payments, and other damages.
Often, motorists hit the road without insurance, making this a very vital coverage to take up.
Comprehensive Coverage
This type of coverage helps cater for damages to the motorcycle incurred through other factors outside collision. For instance, theft, vandalism, and fires are direct losses you’ll find covered. For this coverage, you’ll cater for your deductible, then the insurance will cover your bike’s book value.
Optimal Equipment Coverage
Customizing your motorbike is a lot of fun and makes it look way more exciting. However, collision and comprehensive insurance will only cover the standard factory parts. Getting optimal equipment coverage insures the bike and the additional parts you have added to your motorcycle.
Lay-up Insurance Policy
Bikes aren’t all-weather vehicles; you’re probably only using them during the fair weather. So, why pay insurance when it’s too cold to ride in Atlanta? A lay-up insurance policy suspends all your coverage over a given period.
Lay-up insurance policy excludes comprehensive insurance in the suspension. That way, your bike is still covered against losses such as theft, vandalism, and fire. The coverage addresses motorcycling habits while accounting for seasons where your bike is not in use.
Tips on Saving on Motorcycle Insurance
Raising Your Deductible
A deductible is an amount that you agree to pay when you have a claim. By increasing your deductible, you get to lower your premiums. However, make sure you don’t set your deductible too high.
A Good Driving Record
Riders with good driving records stand a chance to bargain lower insurance rates.
Purchasing an Anti-Theft Device
Having an anti-theft device helps lower insurance rates since the whole point of the device is to reduce the chances of theft.
Multi-Policy Discounts
Getting multiple coverages from the same company can save you money. A lot of insurance companies will offer multi-policy discounts.
Protect Your Motorcycle
Like any other vehicle, your motorcycle is also susceptible to accidents. Such incidences can have huge detriments on your health or bank accounts. Getting an insurance policy isn’t enough; you need to get acquainted with a motorcycle accident attorney. In case of anything on the road, always contact your attorney first before making any move. Remember that claiming damages from the insurance company isn’t the easiest of processes either.
