Just What Does Your Motorcycle Insurance Cover? – Part I

A recent survey by Progressive Insurance shows that most riders aren’t clear on just what the physical damage coverage or loss settlement sections of their motorcycle insurance quote actually cover.  No surprise here – the descriptions are usually written in “insurance-ese”, which usually requires an insurance agent to explain.  Since we don’t want you to get lost in translation, here’s some information on just what is – and isn’t – included in each type of coverage.

Physical Damage Coverage
This optional part of your policy usually includes comprehensive, collision, and custom parts and accessories coverages.  Collision generally means just what it sounds like – crashes with some type of object, although many don’t include animals as an “object.”  Comprehensive coverage handles things like theft or weather damage. 

If you’ve customized your bike much (and who doesn’t?) the custom parts/accessories section is the part you need to check out.  The standard amount of coverage included in this area can be as little as $500 up to $5000, depending on the policy, and it’s your job to find out what that amount is before picking a motorcycle insurance company.  If you’ve got a lot of custom parts on your bike, consider buying additional coverage; the few extra dollars will be worth it if something happens to your custom bags or pipes, much less those custom wheels.

Tomorrow – Loss Settlement