Creating an air-tight motorcycle insurance policy means knowing what kinds of insurance are available and which ones are right for you. There are 10 major areas of coverage, each one handling specific aspects of coverage. The major pieces; collision, comprehensive and Medpay cover the majority of damage claims, but not all of them. Understanding the nature of these other areas of coverage could mean the difference in being fully covered and having holes that could cost you tens of thousands of dollars.
Comprehensive coverage will cover damages done to your bike that aren’t caused by a collision with another vehicle or object and is usually used for damages caused while you are not riding. This covers things like falling tree branches, scratches in the paint job from rocks sprayed by a lawnmower or from being knocked over by someone not being careful as they back out of their parking space.
Collision coverage covers all physical damage to your bike if it is in a motor vehicle accident. It doesn’t cover injuries or anything that happens when you aren’t riding.
Medicl payment coverage, often referred to a Medpay, covers medical costs that are the result of an accident. There is usually a small deductible (around $500), but this coverage will handle most basic coverage up to $10,000.
Accessories coverage is essential for people who have customized bikes. It covers things like sidecars, trailers, custom paint work and custom exhaust pipes. It also covers your helmet and leathers. This coverage is usually added on to bikes where the comprehensive or collision coverage tops out at $2000.
Bodily Injury Liability
Bodily injury liability insurance covers medical costs of passengers on your bike, pedestrians and other drivers who may be injured as a result of your accident. It doesn’t cover the operator of the motorcycle; that's the job of Medpay.
Property damage insurance covers any personal property damage done by your motorcycle as a result of your actions. This could cover torn up sod in a front yard, a mailbox or even a pet. This coverage will also help cover your attorney fees if you are sued.
Personal injury protection, often called PIP insurance, covers the costs of medical treatments outside of the hospital. That means things like follow up doctor’s visits, prescriptions, crutches, co-pays and funeral expenses of necessary.
If you are unfortunate enough to be hit by someone with PLPD insurance or any other bare minimum coverage, your underinsured motorist policy will pay for the portion of coverage that is left uncovered.
Uninsured motorist is the same as underinsured insurance except that it covers all the damages that should have been the responsibility of the other party.
While roadside assistance is usually overlooked, it is one of the most-used types of coverage out there. This will cover towing, gas delivery if you are stranded, key replacement and minor repair work on the road.
While you may not think you need all of these different types of insurance, you do need to know what it is that your policy actually covers so you aren’t surprised by a large bill you thought your insurance would handle. Talk with your agent about your current Dallas motorcycle insurance policy and how it can be tweaked to get you the most coverage at the lowest price.