As exciting as it is to buy a motorcycle, you need to be equally enthusiastic about purchasing the right insurance for your motorcycle. With the multiple options being offered in motorcycle insurance by companies across Austin TX, it is easy to get overwhelmed and be unsure of what you really need.
However, motorcycle insurance has a lot of similarities with auto insurance, and is actually a lot more simple and straightforward in many ways. However, considering the large number of motorcycle accidents involving critical, life-changing injuries, it is important to thoroughly understand the types of coverage involved in motorcycle insurance, before signing your policy.
- Bodily injury coverage: This insurance provides complete coverage, including medical bills, lost wages, and other damages, for anyone else who suffers injuries in case of an accident involving your motorcycle. It is compulsory for motorcycle owners in Austin to have this coverage.
- Property damage liability: This type of motorcycle insurance covers damage caused to another’s property, such as yards, fences, mailbox, garage, house, etc. by your motorcycle.
- Personal injury protection: This coverage furnishes medical bills and other expenses in case you get injured while riding your motorcycle.
- Uninsured and underinsured motorist coverage: Considering the large number of motorists driving on the roads without sufficient insurance, or even worse, without any insurance at all, you want to ensure that you are covered if you are involved in an accident with such a driver. Uninsured and underinsured motorist coverage takes care of that.
- Motorcycle roadside assistance: This coverage ensures that if you are stuck on the roadside with a problem in your motorcycle, your insurance company comes to your aid.
- Collision insurance: Collision insurance covers all damages caused to your motorcycle in case of an accident involving a collision. This insurance usually involves you having to decide on an amount of deductible, which is the money that you shall be required to pay upfront in case of an accident.
- Accessory coverage: While motorcycle accessories valued up to $3000 are usually included in collision and comprehensive coverage by most insurance companies, you might need to purchase additional accessory coverage in case of accessories of value higher than this.
- Comprehensive insurance: This coverage involves any damage caused to your motorcycle when you are not riding it. This covers a wide gamut of responsibilities, including theft, vandalism, damage caused by extreme weather conditions, etc. Similar to collision coverage, this coverage also involves a deductible.