Tricycle insurance is often more expensive than motorcycle insurance because of the potential for more drivers. Some models only carry one or two people, but with Tuk-Tuk models with capacity for 12 people, there are more responsibility issues to manage. Comprehensive coverage helps pay for repairs or replacement if your motorcycle is stolen, wrecked, or damaged in any way other than by a collision. This coverage also safeguards you against loss or destruction caused by floods, fires, falling objects, wind and collision with an animal.
Melanie Musson is a fourth-generation insurance professional. She was raised in an environment where insurance was a daily topic of conversation and has since studied extensively to gain a deep understanding of the laws and dynamics of insurance in each state, as well as a broad knowledge of how insurance can be tailored to fit each individual's needs, from budget to coverage levels. It's essential to understand that your car insurance won't cover your motorcycle. Motorcycle insurance isn't even mandatory in some states, but that doesn't mean you don't need it.
You must have minimum liability coverage in amounts similar to those of your car insurance to protect your assets. While buying liability insurance alone will likely save you money on your monthly rates, it may not be your best option in the long run. Collision coverage is another form of motorcycle insurance that helps pay for repairs or replacement if your motorcycle is damaged in an accident. Comprehensive insurance is another optional form of coverage for motorcyclists.
Full coverage for motorcycles exists when you combine collision, comprehensive and liability insurance in a single policy. Medical payments policy is also important for motorcyclists as many motorcycle drivers suffer personal injuries in an accident. Unless your health insurance pays for all your medical bills (and it may not) you need a medical payments policy to make sure you get the treatment you need after a motorcycle accident. Many insurance companies also offer discounts similar to those of auto insurance on motorcycle insurance policies. For those who have motorcycles, they have a few options.
By now, we've already answered the question of whether your car insurance will cover your motorcycle, but it won't. Now, it's up to you to make sure you have the right coverage for your motorcycle. Start building your policy by making sure you have enough liability coverage not only to meet your state's legal requirements, but also to make sure you're not left paying bills that you simply can't afford. FirstMark currently does not insure motorcycles with a front fork extension or handlebar extension greater than six inches above the manufacturer's original length. However, with your motorcycle coverage, you have many of the same drivers and add-ons available when insuring your car. You can save a lot on motorcycle insurance if you own your own home, townhouse, condo, or mobile home.
