Don’t Make the Mistake of Assuming You Have All the Insurance You Need

If you ride your motorcycle on a regular basis, you may be missing some additional insurance. Here’s what you need to know. Basic insurance coverage is mandatory. There are additional policies or additions you might want to consider. Not only will they give you peace of mind, they may actually help save a trip from being a total failure.

Chances are you already have basic coverage on your bike. This is the insurance that covers things like liability, damage to your bike, and theft. Liability insurance is mandatory everywhere, so if you don’t have it, you should avoid riding your bike until you do. But there are additional types of motorcycle insurance that go beyond the required basics.

You should consider additional accessory coverage if your motorcycle is more expensive, has a lot of optional equipment, or has been heavily customized. This coverage will come in the form of a “rider” on your existing policy. It’s main function is to extend coverage beyond basic costs and items. Check your current policy. You may find that there are limitations you weren’t aware of. When insurance policies say they will replace only a certain amount or certain items, they mean it. The only way to be sure that it’s covered, is to make sure that it’s actually listed in the policy.

Roadside assistance could end up being a real life saver, or at least a trip saver. If your motorcycles quits on the highway, leaving you stranded without tools, fuel or anything else it takes to get going again, roadside assistance will pay for towing, minor repairs, fuel, or other helpful functions.

Rental coverage (usually part of your main insurance policy) will pay for the rental of a replacement motorcycle while your current bike is being repaired. Usually, this only kicks in for collision damage, not when your bike is just broken down.

Cargo trailers can allow you to carry more gear and extend your trips to greater distances. But you should verify that your trailer is covered under your existing policy. You may need to hook up some trailer coverage to your motorcycle insurance.

You may be able to purchase trip interruption insurance on a trip-by-trip basis. Sometimes trips are interrupted by mechanical breakdowns, accidents, or illness. With this type of coverage, you could be reimbursed for extra costs resulting from the interruption. This could include penalties for changing reservations, extra nights on the road, or other possibilities.

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