PROTECT YOUR MOTORCYCLE WITH INSURANCE COVER
Many motorcyclists think there is no point to having motorcycle insurance, some think it is not necessary because they are experienced motorcyclists and are not in any danger of having an accident.
This is completely not the case for many motorcyclists especially, as capable as they may be riding on the road, they cannot predict how safe and experienced other road drivers are. As well as protecting yourself it is also important to protect your motorcycle and ensure that if there is to be any damage inflicted upon it by an accident, you will not have to payout to get the motorcycle repaired or replaced. Insurance will instead cover the costs that are needed to bring your motorcycle back to life.
Motorcycle insurance policies can include a wide range of things. For example ‘collision cover’, this effectively ensures that if you are not to blame for an accident and the other insurance company cannot pay, or are delaying with there payment, your insurance cover will provide the payout whilst waiting, and then refund you back the money once the other insurance company has paid out.
This also ensures that you are covered if you are to blame for the accident. There is also ‘comprehensive coverage’ with makes sure that if your motorcycle is damaged by theft, vandalism, weather or fire...
Policy Limits - Why Yours Should Probably Be Higher
You already know that your insurance company will pay someone who you injure for the damages they can show are related to the accident you caused … but did you know they are only obligated to pay up to your policy limits in settlement or after a court judgment?. The amount of a judgment could be a very large sum of money, potentially hundreds of thousands of dollars or even more, depending on the extent of the damage and the severity of the injuries that you caused.
Many cases are resolved for less than the limit of the policy; however, if you actually go to trial and the plaintiff obtains a jury verdict over the policy limit, the you will personally be on the hook for the overage. Sound like a good idea to get higher limits? What if the higher limits didn’t really cost that much more? Well, it’s true. You don’t pay double for twice the coverage – not even close.
Because rates are based on the risk of loss, and because big claims are relatively rare, it isn’t very likely the insurer will be paying out all that money. But if you have to pay it, the results on your life would be devastating!! There are rare circumstances, if the plaintiff makes a “policy limit demand” and the...
Another reason to get insurance - the other guy doesn't have any!
The Insurance Research Council released a study that looks at just how many of us are uninsured. Just because you are a careful driver, one of these could hit you, and where would you be then?
According to data for the period of 1995 to 1997, the five states with the highest uninsured driver estimates were Colorado (32%), New Mexico (30%), South Carolina (28%), Alabama (25%), and Mississippi (25%). (Colorado’s estimate is high relative to other states, however, because bodily injury claims are subject to a $2,500 monetary threshold and uninsured motorist claims are not.
In other states, the thresholds are the same.) The five states with the lowest uninsured driver estimates were Maine (4%), North Carolina (6%), South Dakota (6%), Massachusetts (7%), and Wyoming (7%).
The study was based on the most recent state statistics on uninsured motorist and bodily injury claims.
Percentage of Uninsured Motorists State by State
Source: Insurance Research Council, based on data from 1995-1997.
...Understanding the Types of Auto Insurance
There are many different kinds of auto insurance coverage available. While some are essential, some are not and you can save money by only paying for the insurance coverage required by your state. Being aware of the various kinds of auto insurance is the first step in making sure that you and your assets are protected, but that you’re not carrying more coverage than you really need, get the best car insurance quote right here for that peace of mind.
Common types of insurance coverage include:
Bodily Injury Liability – Pays your legal defense costs and claims against you if your car injures or kills someone. This protection covers you, family members living with you and others driving with your permission.
Property Damage Liability -Pays your legal defense costs and claims against you if your car damages someone else’s property. This coverage does not cover your property, including your auto.
Medical Payments or Personal Injury Protection – Pays medical expenses for you and others riding in your car resulting from an accident. It also pays for you or your family members injured while riding in another’s car or while walking.
Personal Injury Protection (No-fault) – Many states require that you carry this type of insurance. This coverage pays benefits for the cost of injuries to you or your passengers resulting from an automobile accident...
PROTECT YOUR MOTORCYCLE WITH INSURANCE COVER
Many motorcyclists think there is no point to having motorcycle insurance, some think it is not necessary because they are experienced motorcyclists and are not in any danger of having an accident.
This is completely not the case for many motorcyclists especially, as capable as they may be riding on the road, they cannot predict how safe and experienced other road drivers are. As well as protecting yourself it is also important to protect your motorcycle and ensure that if there is to be any damage inflicted upon it by an accident, you will not have to payout to get the motorcycle repaired or replaced. Insurance will instead cover the costs that are needed to bring your motorcycle back to life.
Motorcycle insurance policies can include a wide range of things. For example ‘collision cover’, this effectively ensures that if you are not to blame for an accident and the other insurance company cannot pay, or are delaying with there payment, your insurance cover will provide the payout whilst waiting, and then refund you back the money once the other insurance company has paid out.
This also ensures that you are covered if you are to blame for the accident. There is also ‘comprehensive coverage’ with makes sure that if your motorcycle is damaged by theft, vandalism, weather or fire...
Policy Limits - Why Yours Should Probably Be Higher
You already know that your insurance company will pay someone who you injure for the damages they can show are related to the accident you caused … but did you know they are only obligated to pay up to your policy limits in settlement or after a court judgment?. The amount of a judgment could be a very large sum of money, potentially hundreds of thousands of dollars or even more, depending on the extent of the damage and the severity of the injuries that you caused.
Many cases are resolved for less than the limit of the policy; however, if you actually go to trial and the plaintiff obtains a jury verdict over the policy limit, the you will personally be on the hook for the overage. Sound like a good idea to get higher limits? What if the higher limits didn’t really cost that much more? Well, it’s true. You don’t pay double for twice the coverage – not even close.
Because rates are based on the risk of loss, and because big claims are relatively rare, it isn’t very likely the insurer will be paying out all that money. But if you have to pay it, the results on your life would be devastating!! There are rare circumstances, if the plaintiff makes a “policy limit demand” and the...
Another reason to get insurance - the other guy doesn't have any!
The Insurance Research Council released a study that looks at just how many of us are uninsured. Just because you are a careful driver, one of these could hit you, and where would you be then?
According to data for the period of 1995 to 1997, the five states with the highest uninsured driver estimates were Colorado (32%), New Mexico (30%), South Carolina (28%), Alabama (25%), and Mississippi (25%). (Colorado’s estimate is high relative to other states, however, because bodily injury claims are subject to a $2,500 monetary threshold and uninsured motorist claims are not.
In other states, the thresholds are the same.) The five states with the lowest uninsured driver estimates were Maine (4%), North Carolina (6%), South Dakota (6%), Massachusetts (7%), and Wyoming (7%).
The study was based on the most recent state statistics on uninsured motorist and bodily injury claims.
Percentage of Uninsured Motorists State by State
Source: Insurance Research Council, based on data from 1995-1997.
...Understanding the Types of Auto Insurance
There are many different kinds of auto insurance coverage available. While some are essential, some are not and you can save money by only paying for the insurance coverage required by your state. Being aware of the various kinds of auto insurance is the first step in making sure that you and your assets are protected, but that you’re not carrying more coverage than you really need, get the best car insurance quote right here for that peace of mind.
Common types of insurance coverage include:
Bodily Injury Liability – Pays your legal defense costs and claims against you if your car injures or kills someone. This protection covers you, family members living with you and others driving with your permission.
Property Damage Liability -Pays your legal defense costs and claims against you if your car damages someone else’s property. This coverage does not cover your property, including your auto.
Medical Payments or Personal Injury Protection – Pays medical expenses for you and others riding in your car resulting from an accident. It also pays for you or your family members injured while riding in another’s car or while walking.
Personal Injury Protection (No-fault) – Many states require that you carry this type of insurance. This coverage pays benefits for the cost of injuries to you or your passengers resulting from an automobile accident...