Thursday, June 11, 2015

Motorcycle Insurance—What do I Need?

Is motorcycle insurance the same as car insurance?

Motorcycle insurance policies sold in Kentucky are different from car insurance policies.

PIP: Personal Injury Protection (PIP) is required by law to be included on car insurance policies but not motorcycle policies. Called “no fault coverage,” PIP provides a minimum  $10,000 coverage for each individual injured in a motorcycle accident regardless of who caused the accident. Although $10,000 is the standard minimum PIP, you can raise your PIP coverage to $30,000 or $50,000 at little cost. You must request PIP for your motorcycle insurance.

Uninsured Motorist Coverage: Uninsured coverage can be used to cover injuries sustained if you are hit by a driver with no insurance. Although driving without insurance in Kentucky is a crime, it happens all too often and you don’t want to be in a situation where you are hurt with no liability insurance to collect. Again, while uninsured motorist coverage is standard on Kentucky car insurance policies unless you waive this coverage in writing, it is not a standard part of motorcycle insurance. The law firm of Flora Templeton Stuart recommends that you always have uninsured motorist coverage on your motorcycle policy.

Underinsured Motorist Coverage (UIM): Underinsured motorist coverage provides additional coverage when you are in an accident caused by someone without enough insurance to fully pay your medical bills. Kentucky’s minimum policy limits on liability insurance is $25,000 per person, $50,000 per accident, and $10,000 for property damage, and many Kentucky drivers only purchase minimal policy limits. Furthermore, many drivers don’t have enough personal assets to satisfy claims, so you are usually limited to their liability policy limits. $25,000 is frequently not enough to cover injured motorcycle riders, so you should always purchase UIM. If other members of your household have separate UIM policies with separate premiums, then you can usually “stack” underinsured policies to receive extra coverage if you have severe injuries.

If you or a loved one have been injured in a motorcycle accident, call attorney Flora Templeton Stuart at (888) 782-9090 for a free consultation. We represent injured people throughout Kentucky, Tennessee, and the nation.

For more information on motorcycle insurance coverage, see our Motorcycle Accident FAQ. Also visit our blog or Insurance FAQ.