Property Damage to Your Motorcycle
It’s been great meeting so many of you (and seeing your beautiful bikes) at all the events we’ve recently attended. Over the last few months I have written articles dealing with insurance coverage that “protects” the injured driver. Generally speaking, when a motorcyclist is involved in an accident, two things happen: the operator of the motorcycle is injured and the motorcycle is damaged. After seeing all of these beautiful and expensive bikes people are riding, I’ve realized I need to address another very important topic: property damage to the motorcycle.
Motorcycle Damage from an Accident
If you are the victim of a motorcycle accident, the insurance of the person that caused the accident may pay for the damage to your motorcycle. In the state of Florida, this type of insurance coverage is referred to as Property Damage Liability Coverage (PD). Florida state law requires that an insured driver of a motor vehicle carries a minimum of $10,000 PD to be considered fully insured; however, the majority of licensed, insured drivers only carry the minimum amount of PD ($10,000). At times, this might create a variety of problems for the victim of a motorcycle accident in regards to the damage to the motorcycle since many motorcycles are worth much more than $10,000. If the person that caused the accident hit multiple vehicles/motorcycles and only carried $10,000 of PD, that $10,000 would be the maximum amount of insurance available to repair all the vehicles/motorcycles involved in the accident.
The Need for Collision Coverage
So, what can you do to protect yourself in this situation? Collision Coverage. Collision coverage on your own insurance policy will pay for the damage to your motorcycle or vehicle. When you are purchasing this coverage please carefully consider the deductible that you choose they generally are in amounts of $250.00, $500.00 or $1,000.00. If you decide to use your own insurance for your Property Damage (PD), your deductible will be subtracted from a “reimbursement” check you are issued to cover the damages. Some insurance companies will subrogate against the at-fault insurance company, which means your insurance company will attempt to collect your deductible for you which can take up to several months. If you have custom parts on your motorcycle, i.e. pipes, chrome accessories or custom paint, you may want to purchase extra insurance coverage in addition to Collision. Custom Accessories or Optional Equipment coverage will cover these “extras”. As a rule of thumb, figure out how much you have invested in customization to your motorcycle, for instance, if you have $5,000.00 you would want to purchase $5,000.00 in custom coverage.
Contact Your Clearwater Motorcycle Accident Attorneys Today!
If you have any questions about your insurance coverage or need any additional information regarding a motorcycle accident, car accident, truck accident, or other areas including dog bites, slip and fall accidents, wrongful death situations or even bicycle accidents, please contact our office at (727) 784-8191. We will be happy to answer your questions free of charge.