One of my favorite things to do in the summer is ride my motorcycle.  There is nothing that can match the feeling of freedom you get from riding.  Anyone with a motorcycle knows when you are in the wind riding it is both exciting and relaxing at the same time.  Riding, however, comes with a certain amount of responsibility that all riders must heed.  One of these responsibilities motorcycle operators are held accountable for, as is anyone operating a vehicle of any kind, is insuring your motorcycle.  There are three aspects of a motorcycle policy that are most commonly misunderstood which need clarifying.

Medical Payments.  Medical Payments provides coverage for medical expenses to you and anyone else in your vehicle, regardless of who is at fault.  This would also pay for things like an ambulance ride, helicopter evacuation and medical insurance deductibles.  With an automobile, Medical Payments coverage is extremely inexpensive because PIP (Personal Injury Protection) coverage is automatically provided for up to $8,000.

PIP CoveragePIP Coverage will pay for medical bills in addition to other costs such as lost wages.  This is the reason that Medical Payments is a very affordable coverage.  PIP coverage on the other hand is excluded on motorcycle policies.  This means if you do not purchase Medical Payments coverage, you won’t have any medical expense coverage as long as you are operating your motorcycle.   Because PIP is excluded for motorcycles it makes the Medical Payments coverage much more costly.  Price is a very important aspect of purchasing any insurance, but protecting yourself and others should be just as important if not more so.  Remember if you choose to forego Medical Payments you choose not to have coverage for any medical expenses.

Specialization Equipment Coverage.  Many motorcyclists know that when you have a bike it is never finished.  You are constantly customizing and improving your bike which can actually end up costing more than the bike itself.  Your bike, similar to your vehicle, is paid out on actual cash value (ACV).  ACV takes the cost of your bike in today’s market, then depreciates the value based on its condition. This is how the insurance industry values the bike.  Specialty equipment coverage provides coverage for your labor of love. You can choose a specific dollar amounts that you want to add.  It is always a smart idea to save any receipts or proof of purchases so if you have to file a claim, there is not dispute on what the value is.

At FBinsure we know our markets and we know our products.  Call us today for more information on motorcycle, or any other type of insurance. Most importantly, when you’re riding be aware of everything around you.  Just because you can see a motorist does not mean they can see you.  Anticipate five moves ahead and always wear your helmet.  Have fun, ride safe and I’ll see you out on the open road.


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