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Discussion Starter #1
OK...hopefully I'm not the only one confused on Motorcycle Insurance.

I would like to hear from someone that is either an AGENT (someone that specializes in motorcycle insurance is a PLUS)...or at the very least someone who ACTUALLY understands the pros and cons of the various coverages.

Below are the "typical" outline of a motorcycle policy (comparing my Markel to Dairyland).

So lets assume the following about the person needing motorcycle insurance (for the sake of everyone HERE):

He is employed WITH HIS OWN MEDICAL INSURANCE COVERAGE
He has no tickets.
His bike needs full COVERAGE (this covers both title holders and those with liens).
He has a $500 Deductible.
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Now below are the typical coverages for motorcycle coverage. Please EXPLAIN each type and why or why not you would need that coverage...and also the consequences of NOT having a specified coverage.

Bodily Injury .............................. 100/300K
Passenger Bodily Injury ................. 100/300K
Property Damage Liability ............... 100K
Uninsured Motorist Bodily Injury ....... 100/300K
Uninsured Motorist Property Damage .. 100K
UNDERinsured Motorist Bodily Injury ... 100/300K

The coverages in BOLD are the ones confusing to me.

Explain the ones in bold...use an example if you want to show what would happen if you HAD the coverage and also if you DID NOT have the coverage.

Hopefully this will help more than just me.

Thanks.
 

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Uninsured Motorist Bodily Injury ?

Pays for injuries caused by motorists who don't carry sufficient coverage for the extent of your injuries.

Uninsured Motorist Property Damage ?

Pays for damages to your vehicle caused by a driver without insurance.

Underinsured?

Their policy is not enough to cover your damage that was done by them.
 

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Pickle is right - its a simple as that. Those c overages are commensurate with the amount of liability you purchase. The figures you gave are for a $300K liability policy, which I highly recommend for two reasons; 1. If you injure a wage earner and crashed into their car, that just might be enough and 2. That gives you higher uninsured and underinsured protections in the event you are hit.
I don't know what you are calling "full coverage," as that is liability, collision and comprehensive coverages. I'll explain the last two.....
Collision covers your vehicle for damages you caused. Only get it if you can not pay out of pocket for those damages, or if your bike is not worth very much. Get the highest deductible you can write the check for--the higher the deductible, the lower the premium.
Comprehensive covers damages to your bike caused by others, such as theft, fire, being knocked over, keying the paint, puncturing your tires, something dropped on the bike, etc.. Comp. premiums are the lowest of the three and a low deductible is OK.
Homeowners / Renters Insurance...why did I include this? Cuz everyone should have it. Period! It covers personal liability, fire, theft, water damage, products and so much more AND if goodies are stolen out of a vehicle, it covers that. Vehicle insurance does not.
Personal Liability Umbrella is good to have in the event you are sued and/or you cause damage exceeding liability insurance limits. A million is a good amount.
 

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Umbrella insurance it what ties it all together, important. Not that costly either.
 

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Discussion Starter #5
Uninsured Motorist Bodily Injury ?

Pays for injuries caused by motorists who don't carry sufficient coverage for the extent of your injuries.
OK...but wouldn't MY OWN healthcare insurance cover that? If so, why would I need this?

Uninsured Motorist Property Damage ?

Pays for damages to your vehicle caused by a driver without insurance.
OK...I thought my COLLISION and COMPREHENSIVE did that, or does it not? Is collision and comprehensive ONLY for wrecks I have that are my fault?

Underinsured?

Their policy is not enough to cover your damage that was done by them.
Again...if I have medical insurance through my work and I have FULL coverage on my bike...why would I need this.

I know I am missing something here... Thanks.
 

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Calm down AB. Uninsured and underinsured usually come included with liability coverage as a package deal and covers bodily injuries done to you by others with insufficient coverage. Comp. can cover damage to your bike/car when damaged by those with insufficient coverage. Collision only covers damage you cause to your vehicle. BTW, comp claims do not count against you or cause premium increases.
 

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Discussion Starter #7
RICZ...I'm fighting with Dairyland right now. They want me to pay extra for the uninsured and the underinsured coverages.

Based on what you guys are saying...at the very least, the coverages overlap my other coverages and could possibly be duplication of coverages at the worst.

Dairyland is charging me for the following:
Bodily Injury Liability
Bodily Injury Liability Passenger
Property Damage Liability
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And they are also charging me for these coverages:
Uninsured motorist Bodily Injury
Uninsured motorist Property Damage
Underinsured Bodily Injury

So are these duplications of coverages or not?
 

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Insurance laws vary from state to state, so I don't know what AR requires. Its always advisable to shop around when buying insurance. Premiums can vary wildly. You might want to contact a multi line broker, he'll do the shopping for you.
 

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Liability is when you are at fault.

Uninsured/underinsured covers you and the bike if the person that hits you is not covered or has not enough coverage.

Insurance, in my opinion, is one of the things that we pay for, that we truly hope to never have to use. Sure your medical insurance through your job should cover you, however, double coverage in certain areas, especially those when we are at a higher risk for injury is only added security.

If you are concerned about overpaying for insurance, just imagine what it would be like if you didn't have the coverage on your bike, and God forbid, you killed someone in an accident. It is not out of the ordinary for people to sue for multi-millions. Anything above what you are covered for and the court deems you liable for, you pay out of pocket. I was set for a jury for this very thing, a cop ran a stop sign and hit a woman. She was suing for $2 million for physical challenges after the wreck.
 

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Discussion Starter #10
Thank you guys. I guess I'll bite the bullet and pay the added premium. I surrender. LOL
 
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