Motorcycle Insurance

Make It Simple- Motorcycle Insurance  

This is our fifth installment in the Make It Simple series. Have you tried to read your insurance policy and just given up? Even your motorcycle policy can be very confusing! Let me try to simplify it for you.

Every policy (regardless of type) should have a Declarations Page, commonly referred to as the “Dec Page”. This page “declares” who you are, what property you have insured, your coverage choices and how much you are paying for this policy period.

Similar to Auto insurance, there are 2 types of coverage on your Motorcycle insurance policy; Coverage that protects the other party and coverage that protects you.

COVERAGE THAT PROTECTS THE OTHER PARTY

Bodily Injury Liability: protects you from having to pay medical costs, lost income and funeral expenses of other people involved in an accident that is your fault.

Property Damage Liability: Protects you from paying for the repair or replacement of the other person’s property.

There is no deductible for liability coverage. You have many amount options for this coverage. The state minimum in Texas is $30,000/$60,000/$30,000. This means you are covered for $30,000 per person/$60,000 per accident and $30,000 for property damage. I would suggest liability in higher limits than the state minimum. If you cause an accident and the liability claim is 75,000, if you have state minimum coverage, you will pay the additional $15,000 out of pocket. It is not expensive to increase your liability limits. Ask your agent to explain your options.

COVERAGE THAT PROTECTS YOU:

Uninsured/Underinsured Bodily Injury: covers your injuries (or death) in case the responsible party has little or no insurance. It also covers anyone riding on your motorcycle.

Uninsured/Underinsured Damage: covers damage to your motorcycle or property in case the responsible party has little or no insurance.  There is a state mandated $250 deductible in Texas for Uninsured/Underinsured motorist coverage.

Medical payments: covers medical or funeral expenses if you or anyone on your motorcycle is injured in an accident.

Personal Injury payments: covers medical or funeral expenses and possible lost wages if you or anyone riding on your motorcycle are injured in an accident.

Collision Coverage: pays for damage to your motorcycle if you hit another car/motorcycle or something else (like a tree or a building).  You must pay a deductible. Deductible amounts determine the cost of this coverage. The higher the deductible, the lower the premium.

Comprehensive Coverage: (also called Other than Collision) pays for damage to your motorcycle if something other than a collision occurs. This could be fire, theft, hit by an

Animal (yes, the animal hit your motorcycle!) The same type of deductible rules apply to Comprehensive as they do to Collision. They are two different deductibles though.

Optional Coverages that protect your motorcycle:

            Towing: pays for towing and some basic roadside assistance, depending on the carrier and towing option you choose.

            Trip Interruption: pays for lodging, alternative transportation and food while the motorcycle is being repaired in the event of a breakdown or covered loss that is more than 100 miles from home.

            Rental Reimbursement: pays for the cost of renting a car while yours is being repaired after an accident.

            Loan/Lease Gap Insurance: pays the difference between what you owe and the total value of your motorcycle if it is totaled in a claim. 

            Accessory Coverage: covers customer parts and equipment. You must have Collision and/or Comprehensive coverage as well.

             

So there you go. There are many factors in Motorcycle insurance, but they don't have to overwhelm you. If you have any questions, please contact your agent. That is what they are there for. If they cannot answer your questions, please contact us. 

   If you have questions about your home, auto and commercial insurance, please call Brockman Premier Insurance at 877-987-8683 or email us.

Visit our Website for more insurance tips and information.

Motorcycle Insurance coverage

Make sure you are covered                         before you hit the road!

   There are some great Motorcycle trips to take. Here in Texas, I know there more roads through our state than even the most avid motorcycle enthusiast is able to conquer. Whether you are a weekender or the Ride Captain, all Motorcycle riders have two things in common. They need to be safe and they need to be covered in case something goes wrong.
   Motorcycle insurance is similar to auto insurance. The types of coverage are basically the same. You need Liability, Property damage, Uninsured motorist (Yes! you need this one!), Collision and Comprehensive coverage. You can add a few extras on a motorcycle policy such as custom parts and equipment coverage, specialized Roadside assistance and Trip interruption coverage. Trip interruption is a great coverage for you extended motorcycle trip takers. This will pay for your lodging, food and transportation if you get stranded on your trip. 
   Many carriers offer a discount if you have taken a Motorcycle Safety Course. This is a good idea whether you break on your insurance or not. Check out the Motorcycle Safety Foundation for a course. Statistics show 49% of Motorcycle crashes are the result of a bike colliding with another vehicle. Of the riders killed in a two vehicle accident, 35% were due to the excessive speeding by the biker.  Texas has historically had the highest annual number of motorcycle deaths, with as much as 37% being alcohol related.  
Please be smarter!

   Bikers claim riding is one of the most freeing ways to enjoy the countryside. Make sure you are safe and covered so that you can truly enjoy your time out there on the road. 

If you have questions or need a quote, please contact Brockman Premier Insurance.

Local 214-592-0859

Toll Free: 877-987-8683

Visit us at www.wekeepuinsured.com

Personal Umbrella Policy

When it Rains, it Pours-   Are You Covered?

   There was a time when only the rich and powerful needed a Personal Umbrella Policy (PUP). Not any more. If you own a home and/or a boat, you should look at what a PUP can offer you. If you own a dog, trampoline or pool, your liability risk increases exponentially and I strongly urge you to consider an Umbrella Policy.  If you own your own business, you should look at what a commercial umbrella policy can offer you.
  Why? What can an Umbrella Policy do for you? Think of it as an added layer of protection for your assets and more importantly, for your family.  It is Liability coverage above and beyond the limits on your Homeowner's, Watercraft and Auto policies.  You have liability coverage on your Homeowner's, watercraft and Auto policies. But they have limits. Unfortunately, anyone can sue anyone these days. And attorneys  are asking for more and more in  "damages".   Your liability limits cover medical bills, rehabilitation, lost wages. Add in any damages that you may have to pay to the injured party, and your current policy limits may well be below what is needed. Then what do you do? Your assets can be siezed and sold to pay the awarded damages. And you are left with no recourse and possibly more debt than you can ever repay.
   Simply put, a Personal Umbrella Policy will offer coverage when your home, watercraft and/or auto policy limits run out. A PUP is often inexpensive, as low as $150 annually for $1million in cover. When you compare it to the added coverage and what you could lose without the coverage, isn't it worth it? 


Thanks for reading!
Nancy Brockman

Please contact  The Brockman Agency for quotes and answers to your questions about Home, Auto and Commercial insurance. We partner with 20 carriers, so we can do the shopping for you!