Motorcycle Insurance-Ride Protected

An article from our friends at Leavitt Group
 

Whether you’re a seasoned motorcyclist or just starting out with your first bike, the right insurance protection is a must for your investment. There are several different types of insurance coverage to consider. Here’s a quick breakdown on what you need to know:
 

• Liability insurance covers bodily injury and property damage that occurs to others if you cause an accident. This does not cover you, your passenger or your motorcycle. Most states require a minimum amount of liability coverage, but the laws vary from one state to another regarding the required amounts.
   

• Collision insurance pays the cost (minus your deductible) to repair damage to your motorcycle in the event of a collision with a vehicle or object (such as a tree). If the motorcycle is totaled, this coverage will generally pay the actual cash value of the bike at the time it was wrecked.
   

• Comprehensive coverage pays the cost (minus your deductible) to repair damages that occur due to events besides collision (fire, theft, vandalism, etc.). This coverage also pays the actual cash value of the bike if totaled. If you have aftermarket accessories on your motorcycle (chrome, custom paint, trailers, sidecars, etc.), consider additional equipment coverage. Check with your agent to determine what’s covered on your policy. Make sure to document any additions you make to your bike and what they cost.
   

• Uninsured/underinsured motorist coverage pays for damages to you and your property if you are in an accident caused by a driver who either doesn’t have adequate insurance (underinsured) or doesn’t have insurance at all (uninsured).
   

Since the laws on insurance coverage vary from state to state, contact your insurance agent to find out what coverage is right for your situation.
 

Tips for keeping safe on the road
 

• Complete a motorcycle rider education course: This can help ensure you have the right knowledge and experience to safely ride a motorcycle in different conditions and situations.
   

• Practice, practice, practice: Different motorcycles handle and respond differently. Take time to familiarize yourself with the feel of your motorcycle by riding in a controlled area before going into traffic. Try to do this in different situations, including inclement weather, carrying cargo or a passenger and slick roads.
   

• Always ride sober: According to the National Highway Traffic Safety Administration (NHTSA), 43% of motorcycle riders who died in single-vehicle crashes in 2014 were alcohol-impaired.
   

• Always wear a helmet: According to the NHTSA, helmets saved the lives of 1,772 motorcyclists in 2015. An additional 740 lives could have been saved if helmets had been worn.
   

• Increase your visibility: Stay out of other drivers’ blind spots, keep your headlights on at all times and apply reflective materials to your motorcycle.
   

There’s still plenty of great weather ahead. Before you head out on the road, make sure you have the right insurance. Mountain America Credit Union has the answers to all your motorcycle insurance questions. Contact us now and we’ll get you ready to go!
 

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References:
https://www.nhtsa.gov/road-safety/motorcycles
http://www.iii.org/fact-statistic/highway-safety

*Insurance products are not deposits of Mountain America Credit Union and are not protected by the NCUA. They are not an obligation of or guaranteed by the credit union and may be subject to risk.