We all have insurance for our Harley Davidson Motorcycle. But how much about your Harley Davidson Motorcycle Insurance do you really know? What happens when you have an accident? What coverage do you have? Does your Insurance Company specialize in Harley Davidson Motorcycle Insurance or is it just another thing they can cover?
You customize your Harley Davidson Motorcycle to match your style…shouldn’t your insurance do the same?
Markel tailors motorcycle insurance coverage to fit customers’ unique needs, based on what they ride and how they ride. Here are 10 things to consider when purchasing insurance or when reviewing coverage you already have.
Accessory Coverage
You bought a new Harley Davidson Motorcycle. Now, everyone knows that half the fun of owning a bike is making it your own by customizing it. So, you add custom pipes, replace the seat with a Corbin, and even pick up a cool Harley leather jacket. As luck would have it, you take a bad turn and wind up eating asphalt. You're okay, but your bike's a different story.
Luckily, you have Markel’s collision coverage - which includes $1,000 of accessory coverage - to help take care of those pipes, seat and even your jacket.
But what if you’ve really gone “Hog Wild” with accessories, adding a fairing, windshield, luggage rack, sissy bar, safety guards, highway pegs, a crash/roll bar, chrome light, radio and CB as well? No problem. Just be sure you purchase the right level of additional accessory coverage, which is easy with Markel’s options for accessory packages ranging from $1,000 to $10,000. And if that’s not enough, (say your accessory value is more than 50% of your bike’s current market value) an agreed value settlement option may be right for you.
When deciding on the amount of accessory coverage you need, be sure to take into account anything added onto the bike that is not included as standard by the manufacturer. This can include (but is not limited to) fairings, windshield, luggage rack, sissy bar, safety guards, highway pegs, crash/roll bar, custom seat, chrome light bars, radios and CBs.
(Remember – Even if YOU haven’t added any accessories, your dealership or a previous owner might have. Anything that is different from the stock unit, as produced by the manufacturer, is considered an accessory and should be included in your accessory value in order for there to be coverage.)
Agreed Value Settlement
You’ve got the sweetest Harley Davidson Motorcycle vintage bike that simply can’t be replaced with a current model. You just can’t imagine what you’d do if something happened to it.
That’s where Markel’s Agreed Value Settlement option comes in. Essentially, this “locks” in the value of your Harley Davidson Motorcycle at an agreed value (with the exception of depreciation to tires, batteries and engine parts).
Then, if the worst happens and you’re facing a total loss, we’ll pay the agreed value if we can’t replace the motorcycle with the like kind and quality. So you can ride in style, and with confidence that you’re protected.
(An appraisal and photographs must be forwarded to us for review before this coverage will be added to new or existing policy.)
Bodily Injury Liability
No one ever wants to get in an accident – especially not one in which someone gets hurt. Unfortunately, the reality is that accidents happen and people get hurt.
In the event that you are in an accident and the driver of the other vehicle gets hurt, your Bodily Injury Liability coverage comes into play. This Harley Davidson Motorcycle coverage protects you from someone for whom you become legally liable due to a motorcycle accident that causes injury, sickness or death.
Keep in mind, this Harley Davidson Motorcycle Insurance coverage does not cover your injuries, only those to others for which you are legally liable.
Collision
You’re riding your Harley Davidson Motorcycle and something catches your eye. Unfortunately, you collide with a construction barrier. Luckily, you’re okay – but your bike isn’t.
With Markel’s Collision coverage, your Harley Davidson Motorcycle’s repairs or replacement costs (minus your deductible and subject to the settlement type terms) are covered in the event of an accident caused by collision or upset. Deductible options for this Harley Davidson Motorcycle Insurance coverage are: $250, $500, $1,000, $1,500 or $2,000.
Comprehensive
There are many things that can happen to a motorcycle that don’t involve a collision. For that, there's comprehensive motorcycle insurance coverage.
For example, say you’re cruising and decide to stop for a bite to eat. Unfortunately, your bike doesn’t stop for long because when you walk out of the restaurant, Your Harley Davidson Motorcycle is gone. Markel's comprehensive motorcycle insurance coverage pays for the damages (minus your deductible and subject to the settlement terms.)
There are many situations that fall under this category – things like fire, theft, vandalism or hitting a deer – making comprehensive coverage an important part of your Harley Davidson Motorcycle Insurance coverage.
Your decision comes in deciding on a deductible. To match the diverse needs and desires of our customers, we offer the following options: $250, $500, $1,000, $1,500 or $2,000.
Medical Payments
It’s a sad fact, but sometimes motorcycle accidents lead to injuries of the motorcyclist or passenger.
While your health insurance will be there to help with the medical bills, it’s an unfortunate truth that many people either don’t have medical insurance or the medical insurance they do have is insufficient. Even if the medical insurance is sufficient, the deductible is still an “out of pocket” cost.
Markel’s Medical Payments Harley Davidson Motorcycle Insurance coverage provides excess medical payments (after any other medical coverage) for any operator or passenger, regardless of fault, subject to the coverage limit and deductible.
Passenger Liability
You’re at a rally, and someone begs you for a ride on your Harley Davidson Motorcycle. Being the nice person that you are, you oblige. Then, unfortunately, you have an accident and your passenger is injured.
Markel’s Passenger Liability Harley Davidson Motorcycle insurance coverage protects you in the event you become legally liable due to an accident to a passenger who is not an insured.
Property Damage Liability
You were having a great ride, loving life, but you were daydreaming a little and didn’t stop quite in time to avoid hitting the car that was stopped in front of you at the stop sign.
Markel's Property Damage Liability coverage provides protection for other people’s property if you become legally liable for damages that occurred while operating your insured Harley Davidson Motorcycle.
Remember, this Harley Davidson Motorcycle Insurance coverage does not protect your bike or you, but will pay for damage to other people’s property for which you are legally liable.
Uninsured/Underinsured Motorist Bodily Injury Coverage
It’s one of those perfect summer days, and you head out on your bike for a nice relaxing ride. As you pull through an intersection, a car runs a red light and slams into you.
Suddenly, your perfect summer day goes from a great ride to a broken leg. Then, it gets worse when you find out the driver of the car doesn’t have any insurance.
It’s for these types of situations that Markel offers Uninsured/Underinsured Motorist Bodily Injury coverage. This Harley Davidson Motorcycle Insurance coverage provides protection for your injuries or death if you are involved in an accident with a motorist who either has no insurance or insufficient coverage, if the other party is considered at fault. This coverage varies by state, so please call 800-236-2453 for specific information regarding your state.
Uninsured/Underinsured Motorist Property Damage Coverage
You're just out for a ride, minding your own business. You stop at a stop sign and a car pulls up behind you. Apparently, the car driver has a little trouble telling the difference between red and green, because before the light changes, he drives right into the back of your bike. And on top of that, you discover the driver doesn't have insurance.
No problem, you've got Markel's Uninsured/Underinsured Motorist Property Damage coverage. This coverage offers additional protection against property damage caused by a motorist that has either no insurance or insufficient coverage, and the other party is considered at fault. This coverage varies from state.
Replacement Cost Settlement
Depreciation? What depreciation? Drive your new Harley Davidson Motorcycle home from the dealership – or drive it for three more years after its model year – and your “new” Harley Davidson Motorcycle bike is still new to us. If you have a total loss, Markel will replace it with a comparable Harley Davidson Motorcycle bike with no deduction for depreciation.
If, at the time of total loss, the insured Harley Davidson Motorcycle is in its current model year, or the first through third preceding model year, and you have purchased the Replacement Cost Settlement type of coverage, Markel will pay the cost of a new Harley Davidson Motorcycle that is, to the extent possible, the same as the insured unit, and which contains comparable equipment.
Harley Davdson Motorcycle Insurance Source
_______________________________________________________________
Things to know about your Harley Davdson Motorcycle Insurance by AllAboutBikes.com rocks!
