Unless you have a vehicle insurance package that includes a Motorcycle insurance policy, you could be in for an unpleasant ordeal should you experience a loss with your Motorcycle. Without vehicle insurance, your emergency expenses incurred while traveling would undoubtedly come out of your own pocket.
Why do you a need motorcycle insurance policy in Texas?
You’ll enjoy being out on the open road even more when you’re not worried about the safety of yourself, your passengers, or your investment. Here are a few things to consider:
- If you’re in an accident or your motorcycle is stolen, it costs money, often a lot of money, to fix or replace it.
- If you or a passenger is injured in an accident, medical costs can be extremely expensive.
- If your motorcycle is responsible for damage or injury to others, you may be sued for much more than you’re worth.
- Your motorcycle may be one of your most prized possessions. It deserves special protection.
Things to consider when selecting and questions to ask your agent
Your Independent Agent is an advocate for finding the best motorcycle insurance policy in Texas, that meets your specific needs. Here are a few things to consider as you prepare for the discussion:
- How much can I afford to pay if my motorcycle is in an accident, damaged, or stolen? (Ask your agent what your cost savings would be if you raised your deductible.)
- What discounts and programs are available? (Ask about discounts for taking safety classes or having multiple policies. You may also save money if your motorcycle is stored in a garage or if you belong to a motorcycle association.)
- How much medical and liability coverage should I have?
- Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
- What’s the process for filing and settling a claim?
Tips for the cost-conscious rider
Many factors can play a role in determining what your insurance costs will be such as your age, your driving record, where you live and the type of motorcycle you own or being a graduate of a rider-training course.
- Many companies offer discounts from 10 to 15 percent on bike insurance for graduates of training courses, such as the Motorcycle Safety Foundation (MSF) rider course. Riders under the age of 25, usually considered a higher risk, may see some savings by taking this course. It’s also a good idea for cyclists who have already had accidents.
- Maintaining a good driving record with no violations will also help reduce your premiums.
- In many northern states, riders may save money by buying a “lay-up” policy. With a lay-up policy, all coverage except comprehensive is suspended during the winter months.
- Find out what discounts your insurance representative offers. Multi bike discounts for those insuring more than one bike, organization discounts, if you’re a member of a motorcycle association, and mature rider discounts for experienced riders, are just a few possibilities. Discounts can range anywhere from 10 percent to 20 percent, depending on the company and your state. Availability and qualifications for discounts vary from company to company and state to state.
- Keep in mind that the type, style (such as a sports bike vs. a cruiser), and age of the motorcycle, as well as the number of miles you drive a year and where you store your bike, may also affect how much you pay for your premium.
Talk to your insurance representative about coverage limits.
The personal motorcycle policy covers Texas:
- bodily injury
- property damage
- guest passenger liability
- medical payments
Liability limits start at $15,000 and can be increased to $300,000.
Typical policies include deductibles of $250 for property damage, $500 for theft, and $1,000 for medical payments.
You should talk to your insurance representative about the type of coverage that would best suit your needs.