You probably love lots of things about your bike: the excitement, the speed, the manoeuvrability, and the way it connects you to the road as it does to the biking community. But part of enjoying,is feeling safe while you’re at it,not just physically, but also financially.
Safety is important when it comes to riding motorcycles. It is widely understood that bike riders face a higher risk of being involved in a crash than drivers of standard cars. With that being said, it is important to have a good motorcycle insurance policy. You never know what could happen, and having insurance can go a long way in protecting you financially.
Motorcycle insurance provides financial protection in the event of a motorcycle accident, loss, theft or damage. It also includes liability coverage in case you are responsible for damaging somebody else’s property or causing bodily harm.
Listed below are the main types of insurance policies available, which offer different levels of cover:
Third-party Cover provides basic third-party insurance and covers the liability of the policy holder. This type of insurance only provides cover in the event of you causing damage to someone else’s property or injuring them while you are riding. It doesn’t include repair costs or cost of replacement if your bike is stolen, and is normally the cheapest and most basic coverage.
Third-party Fire and Theft Cover includes all the features of third-party liability cover, but also provides protection from damage to a bike as a result of the impact of fire, lightning, an explosion or attempted theft.
Fully-comprehensive Coveris designed to be as complete as possible. This typically includes accidental damage your bike sustains, the loss or theft of the bike and any repairs needed.You may also be entitled to a temporary motorbike as a replacement if yours needs to be fixed after an accident, but double check your policy documents to see if this facility is included or available to you.
Other customisable features in your motorcycle insurance plans include:• • Collision coverage that protects you in the event of an accident with another vehicle.
• Uninsured and underinsured coverage comes in handy when another motorist doesn’t have enough insurance.
• Personal Injury Protection (PIP)helps with medical costs that are incurred in case of an accident.
• Accessory coverage provides coverage for any damaged custom equipment or parts added to your bike.
• Motorcycle roadside assistance can help with towing and labour costs if your bike breaks down on the road.
Motorcycling is inherently dangerous if precaution is not exercised. You never know what might be waiting for you around the bend. The last thing you want to worry about in case of an accident is insurance, so don’t ride without it.
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