| Motorcycles and Twowheelers: Bike insurance and security - "Motorcycle Insurance" Wednesday, 20 August, 2008 | Home | Suggest a Link |
Formula 1 Fantasy LeagueThese days, simply being careful while out and about with your bike and using safety gear is not the only protection you need! Motorcycles have a far higher rate of accidents per unit distance than cars. This is due to the exposed rider and the fact that many automobile drivers fail to see these smaller vehicles in the traffic stream.
Also, as the law and lawsuit trials become more and more "complicated," you might even end up paying for the guy who was talking on his cell phone while driving, failed to see you and pushed you in the ditch. Of course, he had a good lawyer. And you, ... well, your brand new bike is bits and pieces, not to even mention being hurt from the fall.
So, you either cough up a few thousand dollars for the medical bills and fixing your bike, or contact your insurance to take care of the bill. Your motorcycle is a major investment, one that is certainly worth protecting. Making a smart insurance decision is crucial for your protection and protection of your motorcycle. [in the UK, third party cover is a legal requirement. ed.]
However, choosing the right insurance policy for you is much more like choosing the right bike. You want it to fit your lifestyle, but at the same time you want it to fit your budget.
And better coverage does not necessarily mean paying more for your insurance. Based on your motorcycle, driving history, and location, instead of getting the best rate from one company, you'll need to contact more insurance companies and get their best rates for your coverage. And the key to finding which coverage is best for you involves learning about all of the available options.
Although most US states require you to carry a minimum amount of liability coverage, other types of coverage are usually optional. Always ask your insurance representative about which laws apply in your state or city.
Let's look at the different options.
In many countries, liability ['third party'] insurance is a mandatory form of insurance since you're at risk of being sued by the injured party being involved in the accident. Most US states require motorcyclists to carry a minimum amount of liability in case of third party injuries, however insurance experts recommend purchasing as much as three times the minimum in these times of expensive litigation. Liability coverage protects you if you (or another person driving your car with your permission) injure or kill someone or damage property.
Liability insurance covers bodily injury and property damage that you may cause to other people involved in an accident, up to the limit of liability you select. It doesn't cover you or your motorcycle. But it gives you protection from a lawsuit. Also, find out if your coverage includes Guest Passenger Liability, which provides protection in the event that a passenger is injured on the motorcycle. It depends on the laws of your state and the company issuing the policy.
While the liability coverage is required by law, in many cases collision coverage is optional. Why, you might ask? Collision coverage is the one that pays for the damage to your motorcycle, not the other guy's, and it's optional? We'll let the lawmakers protect "the other guy" while you need a collision coverage to pay for the damage to your motorcycle when you collide with another vehicle or object. It covers the cost to repair or replace your motorcycle, regardless of who is at fault. You select a deductible [UK: 'excess'], and once the deductible is met, the insurance company pays for the remaining damage. Collision insurance usually covers the book value of the motorcycle before the loss occurred - factory parts. If you get fancy and add anything extra--like nifty chrome accessories, a custom paint job - additional coverage will be required for compensation.
Comprehensive coverage pays (less the deductible) for damages caused by circumstances other than accident, such as vandalism, fire or theft. And again, it covers only the book value of the motorcycle.
If the knucklehead who hit your bike is uninsured, this insurance will cover damages you incur that the "at-fault" party is legally liable for, such as medical treatment and lost wages. Despite laws requiring insurance in practically every state, a lot of people are still driving without even basic liability coverage. The uninsured motorist section of your policy protects you if you or your passenger is hurt by "one of those" people. If your uninsured motorist coverage includes property damage, then your motorcycle would also be covered under the same circumstances - covering for damage to your motorcycle caused by someone who does not have insurance. Check with your insurance to see if property damage is included or needs to be purchased separately.
Underinsured motorist coverage is similar to the uninsured motorist coverage. This coverage reimburses you if the person who hit you doesn't have enough insurance to cover for all of your damages. If your injury expenses exceed the "at-fault" person's liability limits, you can use Underinsured Motorists Coverage to pay for the amount not covered by the person's insurance. Underinsured Motorists coverage is designed to cover the gap between the other person's liability limits and the amount of your injury expenses. The trick is that in order for this coverage to kick in, the other driver has to be declared at fault. In most states, when blame is in doubt or the amount payable is contested, you and your insurer have to submit your differences to arbitration.
Medical Payments coverage pays the cost of necessary medical care you receive as a result of a motorcycle accident and can be used regardless of who is at fault. This coverage often is limited. Check with your insurance company for the specific dollar amount and the number of years that they will cover after the accident. In some states, medical payments coverage only applies after other medical insurance is exhausted.
This coverage is an addition to your Comprehensive or Collision coverage. When you have custom parts and equipment on your motorcycle, you can purchase this additional coverage to cover equipment, up to a dollar amount defined by the insurance company. Ask your insurance for the specific custom parts and details that they are willing to cover. Recommendation: retain photos of the motorcycle and all the receipts for your custom parts and equipment.
Roadside Assistance coverage provides towing to the nearest qualified repair facility and necessary labor at the place of disablement when your motorcycle is disabled due to reasons defined by the insurance company. Roadside Assistance is sometimes included with your Comprehensive coverage at no charge. Ask your insurance agent. If not, in most cases the Roadside Assistance coverage can be purchased at a nominal fee.
Many factors can play a role in determining what your insurance costs will be, such as your age, your driving record, where you live and the type of motorcycle you own. Unless you're high risk, there are ways to keep your costs down so you won't have to pay very high rates. Many companies offer discounts from 10 to 15 percent on motorcycle insurance for graduates of training courses.
In many northern states, riders may save money by buying a "lay-up" policy. With a lay-up policy, all coverage except comprehensive is suspended during winter months.
Information gathered from stats and reports on convicted motorcycle thieves. As well as, from the victoms of motorcycle theft.
The market for stolen bikes right now is so big, it is ridiculous!
Most bikes get taken around 2:00-3:30 am when no-one is up looking out the windows. The thieves will first drive around and look for bikes they and/or their customers want. Then they will return with their van and three or four other guys to help throw the bike in the back of van. It is a one, two, three process taking no longer than 5 minutes. Once the
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This is the truth about motorcycle security chains the major manufacturers don't want you to know. In recent testing it was found that the top 5 chains all failed within 63 seconds with the Irwin Record 42" bolt croppers. One in particular lasted a mere 3 seconds!
There are an estimated 300,000 casualties from road accidents every year in the UK and knowing some First Aid could help save a life. Carrying a First Aid kit in a car or on a motorcycle is highly recommended, so that there is basic equipment available should there be an accident.
It must be stressed that there is no comparison to going on a First Aid training course, and that the following advice must be taken in that context. www.sja.org.uk is the St John's Ambulance website where more information about going on a First Aid course can be found.
These
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Pocket bikes are miniature motorcycles -- powered, for the most part, by oil- and gas-burning engines similar to those used in chain saws, weed whackers or other small motorized tools -- and they look just like the real thing.
The snazziest models cost thousands and are made in Italy, but the ones that are selling by the container load run from $200 to $500. They come from China, among other places, and are getting snapped up by eager teenagers and, in some cases, not-so-teenagers.
At Broadtek LLC, a South San Francisco firm
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I have 2 motorcycles. One is a NTV 600 Revere, the other a SLR 650. The NTV is 15 years old and the SLR is 8 years old. I insure both bikes third party, fire and theft for £154.00. I think this is a very reasonable price that I am quite happy to pay.
I am frustrated with the cost of petrol, though. Both bikes will return 50 to 55 mpg, which compared to a car and some sports bikes is better than average, but I travel approximately 15,000 miles per year which costs around £1300 each year in fuel. This
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