"I thought I had ‘full coverage!’"
There is no legal definition of “full coverage” therefore you must be very specific when talking to your insurance agent. You need to specifically ask for certain kinds of coverage.
Bodily Injury Coverage:
· You must have “BI” coverage to be legal. We recommend $100,000/$300,000 but, only $20,000/$40,000 is required. BI coverage protects you if your negligence causes bodily injury; this includes your passenger.
· It is required.
Uninsured Motorist Coverage:
- Potentially pays you for your injuries if the at-fault driver has no insurance. Hit-and-run accidents would also be covered here even when you do not know the identity of the other driver.*
- Uninsured Motorist Coverage is inexpensive and a policy for $50,000 worth of coverage can be purchased for as little as $20 per year. If you, your family or friends do not have this coverage, we recommend at least $100,000.00 worth of coverage.
- It is not required; highly recommended.
Underinsured Motorist Coverage:
- If a negligent driver/owner causes an accident and has a small insurance policy that does not adequately compensate you for your injuries then you may obtain additional money from your own insurance company if you have Underinsured Motorist Coverage.
- We recommend at least $100,000.00. The more coverage, the better because this allows the injured Michigan motorcyclist to collect more for his/her injuries.
- It is not required; highly recommended.
Collision Coverage:
- Pays to fix your bike or pays you the ‘fair market value’ for your bike.
- You can not make the other guy’s insurance company pay for your cycle’s damage—not even your deductable. There are a few exceptions.
- It is not required; recommended if you do not want to pay for your bike to be fixed.
Medical Coverage:
- We recommend health insurance instead. In our opinion, if you have health insurance, it is not necessary.
- Not required.
Accessories Coverage:
- Most collision policies only cover a stock bike and do not cover custom work or accessories. If you have customized your motorcycle, you may want to purchase an Accessories Insurance Rider. Ask your agent if any accessories or customizations are covered on your policy.
- It is not required; recommended if you have customized your bike.
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