Posted: Thu May 15, 2008 9:49 am Post subject: Motorcycle Insurance: coverages and benefits
Motorcycle Insurance
By Plasticmind
Ideally there are 3 types of motor insurance coverage just like your car insurance.
The first one that comes to mind is the Collision coverage, which is meant to cover your motorcycle from
the damages inflicted upon it due to a collision with any external object. The measure of damages inflicted upon a motorcycle may be of higher magnitude owing to its lesser mass.
Motorcycle insurance would also come to you in the form of a Comprehensive coverage.
It is something associated with the damages inflicted upon your motorcycle through other objects than another motorcycle. Such damages could appear from storms, hooliganism, burglary, flood etc.
This is a truly beneficial coverage as it helps in repairing or even substituting it with another one. The cap of such coverage would be the actual cash value of the vehicle.
There are circumstances where in you come across accidents with your motorcycle while you are not the party at-fault. Obviously, you would not be prepared to spend for the damages caused by someone else. Now, under those circumstances if the person doesn't even have enough coverage to feed your injuries, you would be at a loss. There are chances that you or any other passenger on your motorcycle may die due to a collision caused by such an uninsured/under-insured person. Again, this type coverage has state specific norms to dwell upon. The need & limit of coverage to be maintained would thus vary from one state to another.
There are some benefits which are offered under this coverage-
Medical Coverage
Medical coverage covers the most reasonable & urgent medical costs that are incurred by you or another passenger on your vehicle due to an accident. The expenses towards hiring an ambulance, hospitalization or medical surgeries constitute some of the notable examples.
PIP Benefits
All the expenses incurred due to an accident keep on mounting at times. This is the time that a PIP (Personal Injury Protection) benefit pays you back in connection with the following factors-
* Hospitalization costs
* Loss of wages
* Funeral costs
* Infant care
However, the PIP benefits are offered to you irrespective of whether you are at-fault or not. But, you need to make sure that such benefits are available in your state. _________________ Register Now to have your Insurance queries solved.
My friends,
property damage liability is all about covering the damages that are the outcome of your causing damages to someone else's property. Shops, private houses, cars & structures that could bear the brunt of such casualties. Atleast thats what I perceive at this point of time.. Pal-in-Rome _________________ Register Now to have your Insurance queries solved.
property damage liability is all about covering the damages that are the outcome of your causing damages to someone else's property.
Exactly!
On the other hand, if you are the one who committed the mistake, then you might need to expend towards the sufferings of the other person on your motorcycle. At this juncture, it could be a serious problem if you do not have that financial strength to support the party not-at-fault.
Now see, you could always opt for something like a Bodily Injury Liability at this juncture. It would protect you from the loss caused to another person who was with you on your bike & the fault was on your side for sure.
Thanx for visiting the forums,
Plasmahectic _________________ Register Now to have your Insurance queries solved.
Thats a big thing for sure!
There are pretty many states, where the bodily injury liability coverage would cover you from any form of bodily injuries caused to the co-passengers. For rest of such states, you might need to pay a bit more in terms of premium in order to avail the bodily injury premiums. _________________ Register Now to have your Insurance queries solved.
An important part of motorcycle insurance I don't see mentioned above is custom equipment coverage.
Many owner's of Harley Davidson's and other such bikes put quite a bit of expense into adding aftermarket cosmetic and performance parts onto the motorcycle, saddlebags, custom paint, additional chrome work, etc....
Most companies require the value of these parts to be insured by endorsement so be sure to review this with your agent if you own such a motorcycle that is not factory standard.
Posted: Sun May 25, 2008 6:59 pm Post subject: just a query
I have a question here on the insurance cover for motorcycle. Does at any point of time, is it possible to replace the part of the motor cycle and still get it cover under the same insurance cover of previous one..
