There are few activities as exhilarating as roaring down the highway on your motorcycle. Their speed and maneuverability offer a sense of freedom you can't often achieve through other pursuits. However, because they are small, fast, and agile, they are difficult for other motorists to see. This, along with other reasons, is why motorcycle insurance is so important. It covers you if other drivers don't see you coming or on the off-chance you are involved in an accident. Below are some of the most significant reasons you need this type of policy.
3 Reasons You Need Motorcycle Insurance
1. To Protect Your Investment
Bikes can be expensive, and motorcycle insurance pays to repair damages to them. Collision coverage pays for on-the-road accidents, while comprehensive coverage pays for non-collision losses like fire, floods, storm damage, vandalism, and theft. With both of these policies in place, you won't have to pay out of pocket for more than your deductible amount if your bike ever suffers damage.
2. To Comply with Lender Requirements
If you financed your bike purchase with a motorcycle loan, your lender almost certainly requires you to buy motorcycle insurance to protect their interest. If you fail to do so, they have the right to purchase coverage for you and bill it to you. However, if the bike is totaled, that coverage will only pay off the loan amount. You likely won't see a dime of the payout, even if the bike is worth much more than the coverage amount of the policy.
3. Because It's the Law
As with auto insurance, Ohio requires operators to maintain motorcycle insurance to register their bikes. You must buy $25,000 of bodily injury liability coverage per injured person (to a per-accident maximum of $50,000) and $25,000 of personal property liability. This pays for repairs, medical costs, and legal fees that would arise if you should accidentally injure someone or damage their property while on your bike.
For expert assistance designing a motorcycle insurance policy that fits your budget, contact Ohio Insurance Center Agency in Mt. Healthy, OH. They have been serving clients throughout Greater Cincinnati for more than 30 years and will ensure that you are receiving the type and amount of coverage you need at a competitive and affordable price. They also specialize in high-risk auto insurance and SR-22 bond insurance to complement your other policies. Call them at (513) 522-6300 or visit their website to request a free insurance quote.