Motorcycle Insurance: Things You Need to Know About Motorcycle Insurance

Many people have turned to motorcycles in an effort to save on gas. It doesn't matter if they run on electricity or gas they are required to be insured. Let's look at the different aspects of motorcycle insurance.

Most states require the same liability insurance coverage on motorcycles that they do on other vehicles. Each state sets a specific amount for bodily injury and property damage that must be covered. A few states require uninsured motorist coverage, too.

When people are injured in the other vehicle, their medical needs are covered by bodily injury liability. In some states, this particular coverage includes a passenger on the motorcycle that caused the accident, while other states require special coverage for a passenger. It will include lost wages, medical expenses, hospital expenses and suffering and pain.

Another part of the required liability insurance is property damage. It covers any damage that is caused by you to another vehicle in an accident. If you were to hit something besides another car such as a parking meter, storefront or a home, it would be covered, too.

The possibility of being in an accident with a motorist that does not have insurance is pretty high. Some states require vehicle owners to carry uninsured motorist coverage. This covers you and your passengers in case someone dies or is injured.

Collision insurance is for when you have an accident and your motorcycle is damaged. It will cover the cost of repairs or the purchase of another bike, depending on the seriousness of the damage. It will cover anything else that you hit, too.

Every bike owner needs to sit down and review his financial status in order to wisely choose the insurance coverage he needs. If you can afford to fix or replace your bike in case it is damaged, then collision insurance would not be necessary. Keep in mind that expenses caused by an accident can often amount to much more than one is expecting.