Having the right insurance policy in place is as important as having the right motorcycle for you. The right policy should not only fit your lifestyle but your budget as well. While Georgia requires a minimum amount of liability coverage, other coverages are optional. Just because it?s optional though, doesn?t mean you don?t need it. In order to know whether the coverage suits your needs, you should have a full understanding of various options available.
Liability coverage offers financial protection when you cause injury or damage to other people in an accident. This is a basic requirement in most states. However, the limits and coverage may vary.
A comprehensive coverage offers protection against damages caused by an accident other than collision. The insurer will pay for the damages (minus your deductible), covering only the market value of your motorcycle.
Collision coverage covers damages that resulted from an accident. Insurers will pay for the cost of the damages (minus deductibles) caused by a collision with another vehicle or object. Like the comprehensive coverage, it only covers the market value of the motorcycle.
Bear in mind that most comprehensive and collision coverage will only cover the standard motorcycle parts. Thus, if you decide to add accessories, you should consider buying additional coverage.
Uninsured/Underinsured Motorist Coverage
The uninsured/underinsured motorist coverage provides financial protection against the cost of damages to you and your motorcycle caused by another driver who isn?t insured or doesn?t have enough coverage. This coverage pays for the medical costs, lost income, as well as other damages. In some cases, however, this coverage would include property damage. So check with your agent if it includes property damage. If not, you can buy it separately.
There are a lot of factors considered in calculating the costs of your insurance. These include your age, driving record, your home address, as well as the motorcycle type. Here are some tips to save on insurance.
- Take safety driving courses. These courses are very useful for motorist under 25 years old because they are considered to be high-risk drivers. It?s also recommended for drivers who have a history of accidents as well.
- Keep a clean driving record. Always be mindful of violations to help reduce your insurance rates.
- Ask for discounts from your agent. Determine whether you qualify for their discounts. Even if they don?t offer it to you upon signing up, still don?t hesitate to ask them.
It?s very important to choose the right insurance carrier for your insurance needs. Here at Velox Insurance, we will protect you from the financial risks you face every day as you ride your motorcycle. We even have discounts that you can qualify for. Get quoted from us now! Call us at 1-855-Go-Velox (1-855-468-3569) or visit us at our office nearest you.