Motorcycle Indemnity Coverage, is about the same as automotive coverage, but
there are some minor differences.
- Liability. Florida law require
motorcyclists to carry a minimum amount of liability in case of third party injuries,
however insurance experts recommend purchasing as much as three times the minimum in these
times of expensive litigation. The liability package also offers Guest Passenger
Liability, coverage that offers injury protection to anyone who might climb on the back of
your bike.
- Collision. This coverage reimburses for
damage to your motorcycle in case of an accident - minus the deductible. Coverage extends
only to the factory parts of your bike. If you get fancy and add anything extra like nifty
chrome accessories - additional coverage will be required for compensation.
- Comprehensive. This reimburses you, less
the deductible, for circumstances other than accident, like vandalism, fire or theft.
- Uninsured Motorist. If the person who hit
your bike is uninsured, this coverage pays the medical bills and any lost wages you incur
while out of action.
- Underinsured Motorist. This coverage
reimburses you if the person who hit you doesn't have enough insurance to cover all your
damages.
Insurance premiums are
determined by factors such as your age, driving record, what kind of bike you own and
where you garage it. Unless you're high risk, there are ways to keep your costs down so
you won't have to pay exorbitant rates. Insurers look kindly on clean driving records, no
accidents and graduates from "Ride-Training Courses"
which can earn you a 20% discount.
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