Motorcycle Insurance Policies
What it is:
Motorcycle insurance is a very specific type of motor vehicle insurance. This insurance package covers motorcycles only. The motorcycle is considered a more dangerous type of motorized vehicle because it stands on two wheels and leaves the driver relatively open to injury when compared to the average four wheel car. For this reason, motorcycle policies are usually more costly than the average four wheel auto policy, and many companies will insist that a motorcycle driver take out a separate policy for that specific vehicle.
Who it is for:
The motorcycle policy is meant for any driver of a motorcycle. In the majority of cases, a motorcycle driver must hold this specific type of policy in order to stay in compliance with the law and drive a motorcycle. The motorcycle policy may also be relevant for people who own a motorcycle even if they do not plan to drive it.
How it works:
The motorcycle policy pays out a lump sum of cash in the event of an accident involving the motorcycle that is insured as long as it is being driven by the holder of the insurance policy. The insurance company usually does not pay out any money until the holder of the policy fulfills what is known as a deductible. The deductible is an out of pocket sum that the policy holder promises to pay first before the insurance company is responsible for paying for any damages that occur during an accident.
Different types of coverage in existence:
There are many types of motorcycle coverage packages in existence - some for newer drivers and others for more experienced motorcycle drivers. There are also different policies for different types of motorcycles.
The number one benefit of a motorcycle policy is that it covers the majority of damages that may occur during a motorcycle accident. The driver of the motorcycle also gains a huge benefit of being in compliance with the law if the law requires the driver to hold a policy before driving a motorcycle in a public space.
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