As a motorcycle owner, you must have proper insurance coverage for yourself and your vehicle. The insurance coverage protects in case of any uneventful situation. As many companies offer this coverage, make sure that you request a motorcycle insurance quote before taking the final decision.
Regarding motorcycle insurance coverage, most people need help understanding what is covered in the insurance policy and what is not. To help motorcycle owners, this article covers the common misconceptions people have regarding motorcycle insurance.
- As I have health insurance, I don’t need coverage for medical payments on my motorcycle insurance policy
This is one of the most common misconceptions regarding motorcycle insurance. People think that since they have health insurance coverage, they do not need coverage for medical payments (med pay) in the motorcycle insurance policy. They have a notion that medical expenses from a motorcycle accident will be covered by health insurance completely. Med pay is optional in most states in the USA. It offers coverage for medical and funeral expenses (in case of the death of a person in an accident), regardless of the fault. If a person doesn’t have health insurance, Med pay becomes the primary coverage source. Med pay also covers out-of-pocket expenses like co-pays and deductibles.
- There is no connection between credit history and insurance premium
Many people need clarification on the terms credit score and insurance score. For developing your insurance score, income is not used. Other factors that might be considered include foreclosures, bankruptcies, number of revolving accounts, credit card payment history, presentation of collection accounts, etc. Insurance scoring is majorly a measure of financial responsibility, but it doesn’t involve any credit inquiry or impact your credit scores.
- Collision and comprehensive coverage are interchangeable
Collision and comprehensive are common terms in the insurance industry. Comprehensive coverage offers protection for damages that are not caused by collision. These include fire, weather damage, vandalism, animal hitting, theft, etc. On the other hand, collision coverage offers coverage for any physical damage to the motorcycle when it hits or is hit by another vehicle. Both of the above are optional coverages. The purpose of these coverages is to fix your bike at the earliest and get it back on the road as soon as possible. Do note that collision and comprehensive coverages only cover damages to your motorcycle.
- The driving record of the motorcycle has no connection with motorcycle insurance
While taking motorcycle insurance, you must provide evidence of accidents/violations within the last three years. People who have had multiple violations or accidents will have higher insurance risk, and thus their premium rates will be higher. People with clean driving records have lower insurance premiums. To get a discount on your motorcycle insurance quote, declare if you have taken any motorcycle safety courses.
If you want reliable motorcycle insurance coverage, you can check out the services Action Insurance Group offers. Contact us to learn more about what we do and how our services can help safeguard your motorcycle.
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