Just as folks need car insurance, they also require motorcycle insurance to safeguard them from accidents and to protect one of their most costly investments. Most drivers understand the likelihood of experiencing an accident at some point. Driving a motorcycle is considered even riskier and dangerous than being in a car, so motorcyclists certainly are well-advised to seek good motorcycle insurance.
Collision insurance provides coverage for damage caused by a collision with a car, another motorcycle or an individual. Liability insurance is what helps to pay for the injuries and property damage of others involved in the accident. At the very least, and often required by state law, the motorcycle should be properly covered with liability insurance to prevent the consequence of lawsuits.
Policyholders have the choice to add or subtract coverage to effect the rates. Often discounts are offered to help mitigate premium costs. Insurance companies obviously prefer motorcyclists who are safe riders, less likely to be involved in accidents. Motorcyclists who fit this description are often afforded discounts, as well as those who park in covered garages. Money can also be saved when riding is kept to a minimum and when fewer riders are allowed operate the bike.
Arguably, the best reason to purchase quality coverage for a motorcycle is to protect what is often the largest investment one will make outside of a home or auto. Motorcycles cost an average of anywhere from $5,000 all the way up to $100,000, depending on the model, brand and features. A motorcyclist is well served by financially safeguarding all the various features and having the ability to replace or repair parts or the whole bike should it be stolen, damaged or totaled. Good motorcycle insurance is also available to protect costly investments made on custom bikes.