Motorcycle Insurance: How Much is Enough?

Individuals who own and ride motorcycles must ensure that they have adequate motorcycle insurance coverage.

For most people, motorcycling is a hobby; while for some, it is their primary means of getting around. Whether your motorcycle is for commuting or recreation, it is strongly advised for you to get insurance for it. Others don’t get any insurance at all while there are some who opt to get the cheapest insurance possible due to budget constraints. But how sure are you that you are completely covered or that you have the coverage that you want?

Unfortunately, more often than not, people do not realize that they do not have the right type of coverage and amount of motorcycle insurance until after they get involved in an accident. You do not want to find yourself in that situation because by that time, it would already be too late for you to change your policy to cover the damages caused by the accident.

Motorcycle Insurance Policy Limits

Given the scenarios above, it is strongly recommended to get a solid insurance with the highest limit. There are many reputable insurers that you can choose from. Most insurance providers offer higher limits of liability such as 100/300 or 250/500 that can be matched with the same UM/UM limit. If by any chance you got involved in an accident with someone who has a lower coverage than you have, you can collect from their policy and then have your insurance pay for the difference. This could be up to your UM limit. And should the other party not have insurance at all, you can directly collect from your insurance UM up to your policy limit.

In getting higher limit coverage, you can also ask about the “umbrella coverage” which refers to the excess coverage over and above your liability limits. The insurance company can authorize an additional $1 million or more if there is a need.

You may be hesitant about this because you think you cannot afford this kind of policy. All you need to do is to call an agent and you might be surprised to find out how reasonable it is to get higher limit coverage. You can even increase your limit just by adding a few more bucks a month. The umbrella coverage is also not much different with the higher limit coverage. This is both worth looking into because you might find the coverage very applicable to your situation right now.

The Risks of Riding a Motorcycle

Remember that when riding a motorcycle, you are much more exposed to grave danger than when riding a car so it is more reasonable for you to get insurance coverage that ensures you are covered in the event that you get involved in an accident. No matter how cautious you are when you are out there riding your motorcycle, you are still at the mercy of other large vehicles that share the same road with you. If you value yourself and your family and the people around you who love you, then consider the insurance that you will get as one of your protective gear.