What is it?
Motorcycle insurance is a specialized motor vehicle insurance that covers the specific needs and risks of motorcycle drivers. Unlike a general auto insurance package, it is meant only to cover the act of driving a motorcycle, a definition that can also be changed within the auspices of the insurance agreement.
Who it is for?
This type of insurance is meant specifically for people who are looking to cover the act of driving a motor vehicle that is defined as a motorcycle. Anyone who owns a motorcycle or who will purchase one in the future will find that this type of insurance is helpful and possibly legally necessary for the operation of the vehicle.
How it works:
Insurance for motorcycles works in the same way that insurance for general cars works. The agreement pays out on the basis of an injury that is incurred by the driver upon him or herself, the motorcycle or another party in an accident. Insurance for motorcycles can also cover other situations, such as a motorcycle being damaged by accident in a parking lot or while parked in a garage.
Different types of coverage in existence:
There are many types of different insurance packages for motorcycles; however, the majority fall under one of two categories. There are many policies that are directed towards casual drivers and other policies that are directed towards commercial drivers. Commercial drivers of motorcycles are usually held to a higher standard; as such, their premiums may be higher. However, they likely have much more comprehensive coverage on the motorcycle itself because it is a source of income for the person who owns it.
The major benefit of having insurance or a motorcycle is the reduction of out-of-pocket expense when a motorcycle is injured or destroyed. There are also many advantages if any medical costs are incurred during an accident with a covered motorcycle. Outside of the financial advantage, there is also a legal benefit. Most of the time, a driver must have current insurance in order to operate any kind of a motor vehicle lawfully.