If you are an owner of a custom trike, you know that it is not easy to find the right insurance coverage. Trikes are a unique vehicle that combines the features of both motorcycles and cars, making them difficult to insure. However, it is crucial to have insurance coverage to protect your investment and your safety on the road. In this article, we will discuss the different insurance options available for custom trikes.
Liability Insurance
Liability insurance is the most basic and essential insurance coverage for any vehicle. It covers any damages you may cause to other people or their property while driving your trike. This insurance option is required by law in most states, and the minimum coverage amount varies from state to state. Liability insurance does not cover any damages to your trike or injuries you may sustain in an accident.
Collision Insurance
Collision insurance covers the damages to your trike in case of a collision or accident, regardless of who was at fault. This insurance option is essential for custom trikes as they can be expensive to repair or replace. Collision insurance comes with a deductible, which is the amount you have to pay before the insurance coverage kicks in. The higher the deductible, the lower the premium you have to pay.
Comprehensive Insurance
Comprehensive insurance covers damages to your trike caused by events other than collisions, such as theft, fire, vandalism, and natural disasters. This insurance option is crucial for custom trikes, as they are often targets of theft and vandalism. Comprehensive insurance also comes with a deductible, which can vary from one insurance company to another.
Uninsured/Underinsured Motorist Coverage
Uninsured/Underinsured motorist coverage is an essential insurance option for custom trikes. It covers any damages or injuries you may sustain in an accident caused by a driver who either does not have insurance or does not have enough insurance to cover the damages. This insurance option is crucial as many drivers on the road are either uninsured or underinsured.
Specialty Insurance
Specialty insurance is a type of insurance coverage specifically designed for custom and modified vehicles, including custom trikes. This insurance option provides coverage for the unique features and modifications of your trike, such as custom paint, engine modifications, and aftermarket parts. Specialty insurance also covers the agreed value of your trike, which is the amount you and the insurance company agree upon as the value of your trike.
Conclusion
As the owner of a custom trike, it is crucial to have the right insurance coverage to protect your investment and your safety on the road. Liability insurance, collision insurance, comprehensive insurance, uninsured/underinsured motorist coverage, and specialty insurance are the different insurance options available for custom trikes. It is essential to understand the coverage and limitations of each insurance option, so you can choose the right insurance coverage for your custom trike.
