Why You Need Insurance When You Buy A Motorcycle

Motorcyle Insurance

If you’re planning to buy a motorcycle, you might be doing a lot of research for deciding the best style model and specifications that suits you the best. However, there is one more thing you should pay attention to – your motorcycle insurance. In this article, we will discuss why it is important to get motorcycle insurance in Singapore or any other part of the world.

But before anything else, let’s discuss the reasons for which having bike insurance before the purchase of a bike is very important.

Reasons To Buy A Motorcycle Insurance

Almost all the states and territories require motorcyclists to keep a copy of their bike insurance always handy. And riding without this piece of document can result in fat fines and sometimes you can also lose your license in case you get pulled over. A valid motorcycle insurance not only meets these requirements but also saves you from financial liability in case you meet an accident.

Below are some of the key advantages or say the reasons to have motorcycle insurance before even buying a bike :

1] Offers Liability Coverage

In case you cause damage to another person’s property or their vehicle in an accident, liability coverage will help you pay for the losses which in turn will help you to cover the repairs and other bills. A majority of insurance policies offer different levels of liability coverage. While the higher levels of such coverage can be expensive, they offer additional benefits for the new bikers and to those who commute through distant places.

2] Offers Guest Passenger Coverage

Sometimes passengers who ride with you might not have health insurance coverage. In such cases, they’re exposed to risks while riding with you. A good motorcycle insurance policy offers guest passenger coverage, so they don’t have to worry about their injuries and resulting medical bills. In simple words, your insurance coverage will help them to pay for their medical bills and recover from the losses in case of a road accident.

3] Offers Personal Injury Protection and Medical Help

Motorcycle insurance helps you to pay your hefty medical bills and offer personal injury protection (PIP) in the event of a motorcycle accident. Your medical insurance policy will help you to pay for your expenses regardless of who is responsible for the accident. Simply put, you can stay financially stable regardless of anything. Some great insurance policies also offer help for other losses such as lost wages, child care etc.

4] Offers Comprehensive Insurance Coverage

While property liability policies cover the cost of repairing the damages done to other’s property, the comprehensive coverage helps you to pay for damages done to your property. The collision and comprehensive insurance will help you to repair or replace your motorcycle if it is severely damaged in a non-collision event such as a theft, fire or storm. The comprehensive coverage will keep your bike safe and protected.

5] Offers Mechanical Breakdown Coverage Mechanical breakdown insurance account for the repairs made to a motorcycle. This type of coverage is optional and helps you to pay for certain repairs done to your bike. You can think of it as an extended warranty period that can help you repair or replace the engine and other parts of the bike as regular maintenance.

6] Roadside Towing Insurance

There is nothing worse than the feeling of looking at your bike stranded at the side of the road after the accident. Roadside towing coverage allows you to have your bike towed to the nearest repair service. It also covers the losses such as punctures, flat tyres, battery failures etc. This coverage sometimes also helps by providing extra fuel, gas, water in case you need it for returning back on the road.

Apart from these advantages, some motorcycle dealerships also require you to show motorcycle insurance in order to purchase a bike. So, if you’re planning to finance your bike, you’re likely to have motorcycle insurance in hand. For these reasons, it is very important to have the right insurance coverage before even purchasing a bike.

We hope this article has cleared all of your doubts regarding the importance of motorcycle insurance and helps you in making the right decision.