It is an insurance policy that covers two or three wheeled motor vehicles. It is taken mainly to provide protection for damages or injuries resulting from an accident. It is advantageous for all motorist to insure their motorbikes since they are covered by the insurance policies in case of any form of accident.
Motorists can choose any type of motorcycle insurance coverage depending on the type of motorbike owned. Insurance coverage of motorcycles are of many forms. The following are the main ones:
Bodily injury and property damage liability coverage:
It pays if you are the cause of the accident that injured another person or damages another property. The limit of this cover is always placed depending on the insured premium payment.
Comprehensive & Collision:
This insurance coverage replaces a motorist in case the motorcycle is stolen or repairs in case of damage caused by accidents.
This insurance policy pays for all the medical bills the motorist receives as a result of the accident caused by motorcycle. Medical payment is done irrespective who the fault his. But it is limited to first three years of the accidents.
Uninsured/Under insured motorist:
This insurance policy pays when person on the fault does not have insurance cover or is under-insured covers irrespective of who is at the fault.
Roadside insurance coverage pays if your motorcycle breakdowns nearest a qualified repair facility. It pays for all the necessary cost of labor incurred.
The main reason for having an insurance cover is for protection of the motorist and his/her asset. When a person is involved in an accident, the amount of the damages will not high in terms of cost since some is covered by the insure company.