Most people are familiar with the common coverages of motorcycle insurance – liability, collision, etc. But there are other coverages you can add to your motorcycle policy to customize it to your needs. Read on to learn about four coverage options you may want to consider adding to your policy this summer!
1. Accessories Coverage
If you’ve had a lot of custom modification done on your bike, it may be a good idea to look into optional equipment, or accessories coverage. This type of coverage is great for custom parts and other accessories that you’re looking to protect. Note: Whether or not you choose to add this additional coverage, it’s important that you let your insurance company know about any changes you make to your bike as this may increase its value, and change the cost to insure it.
2. Trip Interruption Coverage
There’s nothing worse than finally hitting the road on your bike only to have a breakdown bring your trip to a halt. Trip interruption coverage offers allowances that you can use to pay for accommodations, alternate transportation, or food while you are waiting for your bike to be fixed!
3. Towing & Labor Coverage
Similar to trip interruption coverage, adding towing coverage to your motorcycle insurance policy will help you in the event your bike breaks down. While coverage varies, many policies cover more than just the cost of a tow, including:
- Flat tire fix
- Battery boost
- Fuel up
4. Medical Coverage
Medical coverage is meant to protect you in the event you sustain an injury on your motorcycle, regardless of who is at fault. This coverage is excellent if your health benefits only cover certain treatments or dollar amounts. Depending on the policy, you may be required to use your health benefits first before switching to your medical coverage.
How Much Insurance Do I Need?
At the very least, when insuring your motorcycle you should have basic bodily injury and property damage liability coverage. This coverage will cover you in the event of an at-fault accident. The minimum insurance requirements differ by province, so it’s best to chat with your broker to ensure you have the right coverage.
Creating a policy with custom coverage will ensure that you are always protected. If you’re in the market for motorcycle insurance, contact the team at Capital Insurance Brokers. We’ll work with you to get you the right coverage at a great price.
