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Property Damage Liability Insurance For Motorcycles
In most states, you are required to have motorcycle liability insurance for your bike. This type of insurance helps protect you financially if you are found to be at fault for a traffic accident. Specifically, it helps pay for costs associated with property damage and bodily injuries suffered by others.
Property damage coverage is the type of liability coverage that helps pay for damage to other people's property resulting from an accident you cause.
Motorcycle Property Damage Insurance Defined
This type of liability coverage protects you against the cost to repair or replace another person's property that's damaged as a result of an accident you cause on your motorcycle. It's often paired with bodily injury liability insurance, which covers medical expenses caused to others in an accident.
Keep in mind that property liability insurance does not pay for damages you cause to your own property in an accident; that's protected by collision insurance.
Types of Expenses Covered
When you think "property" in terms of an accident, your mind probably only considers cars or motorcycles. However, motorcycle property damage liability insurance covers many more kinds of property than that, including:
- Utility poles.
- Flag poles.
- Mail boxes.
Additionally, liability insurance can absorb many of your legal costs if you're sued because of an accident.
Why You Should Have Motorcycle Property Damage Liability Coverage
For starters, you probably don't have a choice.
Most states require motorcyclists to carry at least a minimal amount of property damage insurance. Some states allow their residents to get around this by posting a bond or cash with a state agency, but the simplest way for most riders to comply with this financial responsibility law is through an insurance policy with motorcycle property damage liability coverage.
Beyond that, property damage liability insurance can save you from a financial disaster if you cause a serious accident with considerable damage to cars, motorcycles, or other expensive pieces of property.
How Much Property Liability Insurance You Need
Your life would be a bit simpler if there was a single answer to this issue, but the truth is that property liability insurance coverage is an individual matter.
That being said, most insurance experts recommend carrying much more coverage than may be dictated by your state. Why? Because most states only require a minor amount of coverage, both for property damage and bodily injury insurance. You could easily exhaust those limits in an accident and have to pay the rest of the costs out of your pocket.
Keep in mind, though, that insurance becomes relatively less expensive as you purchase higher amounts of coverage. So, you may be able to reasonably purchase more liability protection than you envision. And, that's especially so if you do your homework and comparison shop online for property damage insurance among many providers.
Where to Buy Motorcycle Insurance
Most carriers that offer car insurance also have motorcycle insurance, including property damage, bodily injury, comprehensive, collision, and uninsured/underinsured motorist coverage. Use this to your advantage and determine which insurers provide the broadest, most complete protection and best rates, and then select the one that's ideal for your situation.