Investing in motorcycle insurance is one of the best decisions bike owners make. Like cars, these bikes tend to be valuable and powerful machines. They can be an excellent investment for anyone that loves the open road. Yet, when an accident occurs, you also want to be sure your plan offers outstanding financial protection to you. With bikes ranging in price from $10,000 up to $30,000 or more, it’s important to have complete coverage. Here’s why collision insurance is a good investment.
Accidents Happen Every Day
Did you know that motorcycle riders have an increased risk of a fatal accident equal to 35 times that of a passenger car? In 2015, more than 88,000 motorcycle accident occurred in which someone was injured. Consider this scenario. You are driving along the highway. A car cuts you off too closely. You react by pulling away, but you cut the wheel too close. Your bike slams into the median. Even though you are fine, the bike is damaged. Who will pay for the damages on your bike?
In this situation, the other driver is likely long gone. And, he or she may be held responsible for reckless driving if caught. However, if you have only liability insurance or comprehensive insurance on your bike, you have no financial protection in this incident. However, if you have collision insurance, the policy may pay for the damages to your bike. In some cases, it may even help to replace your bike if it is a complete loss after such an accident.
Collision insurance provides you with financial support in instances where you collide with another vehicle, object, or even a person. It pays for the damage to your bike, up to the stated limit on your policy. That’s important for anyone that has a valuable bike. Without it, you would lose your significant investment in the vehicle.
In most cases, motorcycle insurance is affordable. Collision insurance can be an affordable component of the plan as well. Do not delay in customizing the insurance policy you have to properly reflect the value of your vehicle and all of the risks you have every time you take to the open road. Collisions are a very big risk for bike riders, even those who have years of experience behind their bikes. Take a moment to talk to your agent about the coverage on your policy.
Get in touch with one of our agents today. Mosley Insurance can help you get the correct motorcycle insurance for your bike. Go online now for a fast, free quote. Give us a call at (405) 224-1000 for more information.