If you’re involved in an accident – and it’s ruled that the accident is your fault – it’s very possible that you’ll be held responsible for any property damage and medical costs incurred by those involved in the accident.
And that’s why you need what’s called “liability” insurance.
If you (or, for that matter, anyone else at the accident scene) is injured and needs emergency first aid, it’s the “liability” portion of your insurance which covers those costs.
This portion of your total motorcycle insurance package will also cover all other medical expenses for injuries and medical bills which arise as a result of the accident. This type of coverage may well even extend to covering funeral expenses in the event of an accident-related death. Given the correct policy, your liability insurance may also cover compensation for the time you – or others involved in an accident – are unable to work.
Does it cover any legal fees you might incur? You bet it does, and that can be a considerable benefit depending on the severity of the accident.
Motorcycle Liability Insurance
Property damage is also covered by your motorcycle liability insurance, and that’s a critical benefit as well as property damage add up to many times the cost of any injuries or medical bills. Your liability insurance helps you pay for any damage you might cause as a result of driving into a home or other building, taking out a a telephone pole or street sign, and of course, for all damages caused to other vehicles involved in the collision.
Should the worst-case scenario present itself, you can easily see that the small amount you pay in premiums for motorcycle liability insurance seems tiny amount in comparison to the whopping tab you’d face for medical bills or for property damage.
1. Complete A Safety Course.
Insurance companies offer incentives for completion of a motorcycle safety course. Visit the Motorcycle Safety Foundation’s Website to view a searchable database of course locations near you. If you’re under 25 years old (and your driving record is a bit shaky) you’ll benefit the from this type of discount.
2. A Past History of Responsible Riding Counts.
If you have no infractions on your driving record, you’re more likely to get a lower rate. Progressive offers a 5% discount at renewal time if you didn’t file a claim during the previous term of your contract.
3. Storing Your Motorcycle In A Secure Location.
Storing your motorbike in a garage – or installing an anti-theft system on the bike - not only protects a valuable asset, it can and cut down your insurance tab. It’s worth checking on this kind of discount, particularly if you live in a major metro area or a high-crime district.
4. Consolidating Your Motorcycle Policy With Other Coverage.
The more vehicles you insure under one policy, the cheaper you can get each element of the overall package. If your car and motorcycle are covered under one policy, you may be eligible for some serious discounts. Geico offers 10% discounts if you have more than one motorcycle. They sometimes cut you the same deal if you’re willing to transfer your coverage to Geico from another insurer.
5. Cheap Motorcycle Insurance Doesn’t Always Mean It’s The Best Alternative.
Liability insurance, which provides coverage for damages done by another driver, may be the most inexpensive route, but if you’re found at fault and you don’t have adequate comprehensive coverage, you pay the tab to replace your bike out of your own pocket. If you ride an expensive motorcycle make sure that you have coverage to replace accessories like saddlebags, expensive rims, chrome trim and electronic devices.
6. To Every Season.
Insurers offer coverage which can be suspended for a period of time such as during the winter months. Accident-related insurance is put on hold, but you still retain the benefits of coverage for mishaps like theft, fire, and vandalism. Should you opt to partially suspend your coverage during the winter, make sure you consider the risk carefully.