So, along with checking your smoke detector batteries at the "Spring Forward" time change and renewing your NY Registration (all are automatically renewed in April), it's a good plan to haul out your motorcycle insurance policy for a thorough review.
(I'll just remind everyone that I'm not an insurance agent or broker, nor am I an attorney of any type. I'm just someone who has seen a few things while working at FX Caprara Harley-Davidson.)
Part I went over how Motorcycles are considered
recreational vehicles, and the insurance coverage a motorcyclist is required to carry doesn't protect the rider at all. Add to the fact that 75% of the drivers out there have the minimum insurance under the law - which in NYS is $25K per person, $50K per accident. No where near enough!
Part II talked about how insurance companies want to save you money now.... which might mean not paying out later because you don't have the correct coverage.
In Part III we discussed planning ahead - not just for you but also for your spouse (if s/he rides their own) in the event they have a motorcycle accident.
Now I'll talk about the coverage you should strongly consider having:
- New York is a "no-fault" state, meaning car
- You have a nice house, a couple of cars that are relatively new (under 10 years), maybe an ATV and/or ride on lawn mower - in other words you're not rich but you're financially better off than some. Consider increasing your liability limits since this will protect you if you are found to be at fault for causing the accident.
- Optional Coverage: Bodily Injury and Property Damage (BIPD). Did you run your motorcycle through someones manicured backyard? Took out a guard rail? This coverage will help pay back the home owner or county/state.
- Optional Coverage: Medical Payments Coverage.
- Optional Coverage: Comprehensive and Collision.
- Optional Coverage: Uninsured/Under-insured. Thisthe difference (meaning up to $75K).