Insuring your motor bike may seem quite unnecessary especially when, after five years of insuring it, nothing really "happens." Many people feel cheated by insurance companies when they pay their premiums faithfully over many years yet nothing that demands compensation comes. However, you should pause to think of the kind of medical bills you might need to meet single handedly when an accident occurs. Without insurance, you might also have to replace a write off or a stolen bike from your own pocket. Worse still, you might also have to pay for any damage caused to any other party except you and your bike.
The motorcycle may be involved in an accident or may have mechanical problems and as a result need to be towed away. The insurance cover, if included this cost, will relieve you of the burden of having to pay for such an expensive service. The insurance company goes as far as paying any monthly balances you may owe the dealer who sold you the bike, depending on your agreement with both parties. This saves the scenario where the bike is taken away and auctioned simply because you did not manage to pay a mere hundred dollar balance!
Also, in the event that an accident occurs, there follows some legal procedures to follow especially if a third party property is damaged or a third party person is injured. The affected third party files a law suit to claim compensation for damages caused. A law suit is the last thing you want to enter into, especially with the probability that this law suit will take all your time, money and leave you bankrupt especially when you are told to compensate the third party yourself.
However, the cost and hassle of getting a good company to insure you can be reduced by searching for one via the internet. It is cheaper to do so, because you look at what all the companies have to offer while you sit down as opposed to physically moving from one place to the other. It also goes without saying that this method saves a lot of your precious time and energy. The internet also allows you to post in detailed information about your bike and about what you generally are looking for. After this, a certain program runs and a list of companies and policies that suit your description.
You can have a comprehensive cover, which covers you, your bike and any other third party. Third parties may include another bike, another person or vehicle. Property damaged by collision of your bike, too, is under this cover. The insurance company also replaces the bike if it is stolen or damaged in a way that it is declared a write off. Some valuable parts, too can be covered under a special and custom made comprehensive policy. Other policies include the third party insurance, which is a compulsory requirement by the law if you are not insured under the comprehensive cover.
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