Most drivers opt for minimum coverage, not realizing that the insurance does not cover their motorbike from damage. The Smith Insurance Group Inc. wants Sandy, UT drivers to understand their options to protect their motorcycles.
Adding to the Minimum Bike Insurance
Adding comprehensive and collision coverage ensures that the policy covers replacement or repair if an accident occurs or the bike gets stolen. The property insurance included in the state’s minimum requirements only covers damage to another person’s vehicle or property. To cover the repair or replacement of your motorbike in an accident, you need collision coverage.
Collision coverage protects your finances, whether the accident involves many vehicles or only your bike. The term collision includes other motorbikes, autos, fences, garage doors, walls – you name it! No matter what you hit with the motorcycle, your collision coverage covers the repair or replacement cost. So, if you hit a deer with your Yamaha, collision coverage pays for the repairs after you pay your deductible.
You choose your deductible amount. You can set it lower, around $500 or $1,000, but you’ll pay higher monthly premiums. That’s because you won’t have to pay much if an accident occurs. If you need your monthly payments to cost less, choose a higher deductible, such as $2,500 or $5,000. Even paying $5,000 is better than covering the cost of a new high-end motorbike, most of which costs about $75,000.
Comprehensive coverage pays for repairs or replacement of your bike if someone steals it or nature damages it. It also pays for damage from vandalism and rioting. Natural damage refers to damage from fire, hail, high winds, hurricanes, etc. The only natural hazard not included on the list of perils is flooding. Flood insurance covers this.
Contact The Smith Insurance Group Inc. Today
If you reside in or near Sandy, UT, contact The Smith Insurance Group Inc. to update your motorcycle insurance with collision and comprehensive coverage. Protect your financial investment in your bike with insurance.