Every driver in the state of Texas including car, truck, and motorcycle owners are required by law to purchase liability coverage with the following limits:$30,000 for each injured person, up to a total of $60,000 per accident and $25,000 for property damage per accident, according to the Texas Department of Insurance. Now, depending on the agreement you signed with your lender, you may be required to carry additional coverage or even higher limits than those stipulated above. However, if you areonlycarrying the minimum coverage that the state of Texas requires you purchase, there are a few other types of coverage you should strongly consider adding to your policy.
The reality is, riding a motorcycle is much riskier than driving a car or truck which is more durable and provides a significant amount more of protection to its occupants. And with accidents occurring far too frequently in the Lone Star State, you need to ensure you are properly protected for the unexpected and have adequate insurance coverage that can help you should you need it.
So, what are some additional types of insurance coverage aside from liability insurance that a motorcyclist can purchase? Below we outline a few for you that would come in handy in the event you are involved in a motorcycle accident.
- Medical Payments Coverage
Medical payments coverage will pay for your medical bills as well as funeral bills that result from an accident. As you know, medical care isn’t cheap and because most motorcyclists suffer serious and life-threatening injuries, your health insurance likely won’t be enough given that they will cover you for all the care you need to have rendered. That is why you should consider purchasing medical payments coverage. Aside from covering you, it will also cover your family members, passengers in your vehicle, and other injured individuals despite who caused the crash.
To find out what your options are in terms of purchasing medical payments coverage, contact Will Peterson Agency, a reputable insurance provider that has been providing individuals just like you with valuable coverage for the past 27 years that is guaranteed to help you if you are a victim of a motorcycle accident in Garden Ridge, TX.
- Personal Injury Protection (PIP)
PIP will pay for your medical bills just like medical payments coverage, provide you with 80% of your lost income, and even pay the cost associated with hiring a caregiver in the event one is needed to tend to the injured person. It will also provide coverage for you, your family members, passengers in your vehicle, and other individuals who may have suffered an injury.
- Uninsured/Underinsured Motorist (UM/UIM) Coverage
Did you know that not all drivers in the state of Texas are insured? We refer to these drivers as uninsured motorists. There are also those who are only carrying the minimum amount of coverage which generally isn’t enough to cover a serious accident such as a motorcycle wreck. We refer to these motorists as underinsured drivers. If you ever find yourself involved in an accident with one of the two types of drivers mentioned above, you could be required to cover your property damage and/or injuries which isn’t something any victim should have to do. However, when you choose to buy bodily injury and property damage UM/UIM coverage, you won’t have to worry about coming out of pocket as this type of coverage will pay for the following:
- Medical bills
- Lost wages
- Pain and suffering
- Permanent or partial disability
- Auto repairs
- Rental car
- Collision Coverage
If your bike isn’t paid off, you will likely be required to purchase this coverage. However, if it is, then you might consider including it in your policy as it will pay the cost to repair your motorcycle or pay the actual cash value of it after it has been involved in a crash.
- Comprehensive Coverage
Just as we mentioned with collision coverage, if you still owe money to a lender, then you probably already have this coverage included in your policy. If not, you might choose to add it on as it will pay the cost to repair or replace your bike if it is “stolen or damaged by fire, vandalism, hail, falling objects, or an event other than a collision.”
Understanding insurance coverage can be tricky and knowing which types to buy and which you can forgo purchasing should be discussed with an agent who is looking out for your best interest and not just a higher premium payment from you. So, if you recently purchased a motorcycle or are in the market for a new insurer, contact Will Peterson Agency today to speak with an agent who is going to help you piece together the best policy possible so that if an accident were to occur, you have the perfect amount of coverage at a price you can afford.
You can reach Will Peterson Agency at:
Schertz, TX 78154