Whether you are someone who is seeking an adventure or just want to navigate the town for a quick break, driving a motorcycle is a top mode of transportation.
And as you would with a car, insurance is a must have to protect yourself, your investment, and your passengers. And for you to get the best insurance in town, this article offers information about understanding motor cycle insurance.
The Basics of Motorcycle Insurance
In many parts of the world, motorcycle insurance is required by the government because it helps cover the liability caused by an accident; it pays out the related damages, injuries and more.
As a motor rider and if you have an extra fund available, think about buying additional liability insurance that is beyond what the government requires to protect your assets in case you are sued over an accident. The limits of minimum liability may not be enough to pay the incurred legal cost as well as the claims in case you’ll be sued; it’s also possible for some creditors to go after your assets.
In addition, verify with your insurance company if any of the following are covered: if the injury related liability insurance covers the passengers you’re with, if you need to always have with you the underinsured or uninsured motorist coverage and if it includes property damage or not. Check the details with your insurance agent.
4 Coverage Options for Motorcycle Insurance
Motorcycle insurance coverage options are the same to the standard ones available for auto insurance. Together with the liability and uninsured or underinsured motorist coverage, the insurance company also offer these options:
- Personal Injury Protection
Generally speaking, personal injury insurance pays for the associated medical bills caused by the accident; it covers the treatments for injuries you, your pedestrian, or your passengers have regardless of who is at fault. But these benefits can’t be enjoyed by everyone because there are places that don’t sell such coverage especially to motorcyclists, the leading cause of road accidents.
- Medical Payments
If medical payments are available in your area, it can pay for accidentally related injuries that you and your passenger got. Its main difference with personal injury protection is that lost wages and other costs are not included or covered. Riding or driving a motorbike comes with risks, no matter how careful or good you are in driving. With medical payments, even if you don’t have health insurance, you are well covered.
Comprehensive motorbike insurance in Singapore pays out for a damaged or stolen motorcycle or if the issue is caused by something other than a collision with another vehicle. It also covers animal-related collisions.
Collision insurance pays out for damage to your motor vehicle, less your deductible amount, the amount you choose when you availed the insurance policy that is often taken from a claim check.
Above insurance coverage for motorcycle are just some of the many options that a two-wheeled vehicle owner can opt to have. If you are one of those people who use this mode of transportation almost every day, getting such insurance can give you a peace of mind and saves you your precious time and money.