Seeman Holtz Provides an Investigation on the Importance of Motorcycle Insurance
With the weather quickly warming up in areas across the country, motorcyclists are getting back on the road to enjoy it. Seeman Holtz acknowledges that, while riders should not let worries about insurance fully put a damper on their fun, the increased number of riders on the road points to the importance of motorcycle insurance. Motorcycle insurance policies offer protection against the wide range of risks associated with riding. For this reason, motorcyclists should frequently evaluate their insurance to be sure that it provides the coverage that they need. Here, Seeman Holtz investigates the importance of insurance coverage and how comprehensive options cover the needs of riders.
The Risks of Motorcycle Riding
Acknowledgement of the risks associated with motorcycle riding is a common reason that motorcyclists seek out comprehensive coverage. Riders can be subject to a variety of injuries in crashes including traumatic brain injuries (TBI), spinal cord injuries, fractures, internal injuries, and lower-extremity injuries. In 2018, the National Highway Traffic Safety Administration (NHTSA) found, per miles traveled, that motorcyclists were about 27 times more likely than passenger car owners to die in a vehicle crash. The NHTSA also found that, while 20% of passenger vehicle crashes result in injury or death, the statistic is four times as high for motorcyclists.
Our Seeman Holtz investigation revealed that there are a variety of ways that motorcyclists can reduce their risk of serious injury in the event of an accident. For example, helmets reduce the risk of head injury by 69% and the risk of death by 37%. Protective gear, such as well-fitting armored gear and Hi-Viz (high visibility) gear are also crucial for offering protection to motorcycle drivers. Seeman Holtz acknowledges that not all accidents can be prevented, however, and examining options for motorcycle coverage adds another layer of protection legally and financially speaking.
What are Motorcycle Coverage Basics- And How Do They Protect Riders?
This Seeman Holtz investigation into motorcycle insurance coverage shows that almost all states in the U.S. require that motorcyclists have coverage, but there is a difference between the minimum amount of coverage required from state to state. Unfortunately, some motorcyclists discover after an accident that they do not have the level of coverage needed to fully take care of injury or damages. For this reason, Seeman Holtz recommends that motorcycle owners look into all of the available components for motorcycle insurance to select coverage that best fits their needs.
Liability Insurance
Liability insurance provides coverage for bodily injury and property damage that occur because of an accident, both of which may necessitate that other people become involved in your case otherwise. Even though liability insurance for motorcycles is not required in states such as Florida or Washington, it is highly recommended that individuals purchase a policy that includes this coverage. This is because liability coverage is a first line of defense for protecting your assets if you are found at fault in an accident that causes damages to others or their property.
Collision Insurance
Motorcyclists will likely want a policy that covers the cost of repairing or replacing their motorcycle if an accident occurs. For this reason, collision coverage is a common feature of motorcycle insurance selected by riders. If your motorcycle crashes into another vehicle or object, collision insurance coverage can mean that your insurance company pays for the damages. This will usually be the book value of the bike before loss occurred.
Uninsured or Underinsured Motorist Coverage
In an accident, there is no guarantee that the other motorist is properly insured, emphasizing the importance of policies that cover your losses if the other driver does not have insurance or has insufficient liability insurance. UM for bodily injury and property damage coverage can help in making sure that your bike damages and injuries are covered. UM coverage particularly important in states that have high numbers of uninsured drivers but, even in other states, it is impossible to know if a vehicle that hits you has satisfactory coverage until it is already too late.
Comprehensive Coverage
Seeman Holtz investigations reveal that collisions are far from the only accidents that befall motorcyclists, and comprehensive coverage can help provide protection against other sources of damage. For example, theft or vandalism and “act of god” incidents such as damage incurred by fires, hail, falling objects, and flooding can be covered by comprehensive coverage. One of the reasons that comprehensive coverage is a common choice for riders is that it can protect bikes when it is not riding season. If you store your bike for a significant portion of the year, it can help to know that it is still covered from possible damages.
Additional Coverage
The customizability of motorcycle insurance means that additional coverage may be needed to fit the specifications of a rider. For example, accessory coverage can protect property such as trailers, sidecars, customized parts, and personal protection items damaged in a crash. Depending on your needs, speaking with a professional about the possibility of specialized coverage gives a motorcyclist the ability to discover which options apply to them.
What Does This Mean for Riders?
This Seeman Holtz investigation surrounding motorcycle safety and insurance are not to dissuade motorcyclists from participating in their favorite pastime. Instead, they are to highlight the importance role that insurance plays in protecting riders from the issues that a lack of sufficient coverage can present. Motorcyclists should acknowledge that the minimum insurance coverage required by their state is not necessarily a one-size fits all situation. To this point, they should evaluate their level of coverage whenever possible to mitigate damages that may occur during an accident.
