In the world of motorcycle insurance, there are many options from which to choose for insuring your motorcycle. As a motorcycle lawyer, I often see clients who are often not properly insured to recoup their losses when an accident occurs. While protecting your person is the foremost priority, most bikers would consider protecting their bike a close second. When selecting a policy that is right for you, be sure to keep in mind the value of your motorcycle. More likely than not, you have spent a considerable sum on your motorcycle and would like to protect your investment from being damaged. While the law requires you to carry coverage that will compensate other bikers, such a bare bones policy will leave you empty-handed should you be involved in an accident in which your own motorcycle is damaged.
To help protect against the unexpected, it is highly recommended that you augment your motorcycle insurance policy with coverages that will pay for any damage incurred by your bike. Two of the most important types of coverage are collision and comprehensive. By carrying these coverages, you are sure to receive financial compensation should your bike be stolen or damaged in an accident—even if it was your fault!
Carrying collision coverage on your motorcycle insurance policy ensures that your insurance company will pay to have your bike repaired in the event you collide with another vehicle or object. This coverage extends to collisions with other cars and motorcycles, as well as signs, poles, and other inanimate objects. If you are the at-fault party in an accident and your policy does not include collision, the cost to repair your motorcycle falls exclusively on you.
While collision coverage protects your bike against more traditional accidents, comprehensive coverage extends to other potential causes of damage. When you add comprehensive coverage to your motorcycle insurance policy, you are protecting your bike from damage that may arise because of fire, storm damage, vandalism, or theft. Comprehensive coverage even applies when you have the misfortune of hitting an animal.
When considering the large amount of money most motorcyclists put into their bike, adding both collision and comprehensive coverage to your motorcycle insurance policy is a no-brainer. The slight increase you will experience in your monthly premiums is a small price to pay for the peace of mind you will gain by knowing your motorcycle is well-protected against every type of mishap.
Stuart A. Carpey, who has been practicing as an attorney since 1987, focuses his practice on complex civil litigation which includes representing injured individuals in a vast array of personal injury cases.