New York Motorcycle Insurance
If you have a motorcycle in the state of New York, you are required by law to get a minimum level of coverage in case of an accident. However, at Brooks-Waterburn Corp., we believe it's worth protecting your investment with a full coverage policy.
If you only have the minimum coverage required by law, your bike may be unprotected against the risk of being damaged or stolen. What if something happened and your insurance policy didn't account for these common risks? How much money would you be out due to the loss? Perhaps even worse, what would you have left to ride?
Thankfully, NY motorcycle insurance is quite similar to an auto insurance policy and can include various coverages:
- Bodily Injury / Property Damage Liability Coverage
This coverage applies if you are considered at-fault in causing damage or injury to a third party, up to the limits you select. This can be very important for you, since this coverage helps you protect your own assets.
- Comprehensive / Collision Coverage
This coverage pays for repairs to your bike if it is damaged in an accident, if it’s stolen, or if it's destroyed.
- Uninsured / Underinsured Motorist Coverage (UM/UIM)
If you are in an accident in which the other party is at fault, this coverage will protect you if they don’t have the insurance or resources to pay for your damages and/or injuries that they are legally liable for. That includes medical payments and loss of wages.
- Medical Payments
Medical payments cover the cost of any medical treatment you receive, regardless of who is at fault. This coverage is often limited to the first three years after an accident happened.
- Custom Parts and Equipment
This coverage provides protection for accessories and ‘extras’ to our bike that exceed $1,000 in value, other than those originally included by the manufacturer. It also covers sidecars, custom paint jobs, safety riding gear and helmets, and trike conversion kits. Custom parts and equipment are covered up to $1,000 under comprehensive coverage.
- Roadside Assistance
Provides immediate roadside repair services for break-down, dead battery, flat tire,running out of fuel, and towing.
It's important to remember that, although the odds of being at fault in a multi-vehicle accident are very low for motorcyclists, liability often doesn’t clearly lie with the other party either. Even though bikers are often the victims when it comes to cycle/car collisions, it doesn’t mean that you don’t need liability insurance. What if you hit a bicyclist or a pedestrian? What if you accidentally scratch a car as you back out of your parking spot?
Uninsured/Underinsured Motorist coverage is probably the single most important coverage you can have on your motorcycle policy.
As a biker, your risk of being at-fault in an accident is comparatively low, but your risk of getting hit is relatively high. That’s where your UM/UIM coverage applies.
Your UM/UIM coverage kicks in if you are hit by a driver who doesn’t have the insurance or resources to pay for your injuries, medical payments, loss of wages, and damage to your bike. If the person who hit you doesn’t have the money to pay for the damages they caused you, your own insurance will protect you.
Keep in mind that a driver who isn’t responsible enough to look for motorcycles on the road might not be responsible enough to carry adequate insurance limits. That's why we think it's important to fully cover your motorcycle with the best insurance you can get.
For more information, simply fill out our quick and easy Protection Savings Form above, or give us a call today. At Brooks-Waterburn Corp., we will work hard to make sure you have the best protection possible at the lowest price available!