Attorney Eric Spector’s Insurance recommendations. Your Declaration Sheet is the insurance document that tells you what kind of insurance coverage you have. This is typically a one page sheet.
You are not ok by simply requesting “full coverage” since this means nothing under the law. Take the time to go through what you are actually paying for with your agent. You are also free to contact us with questions. Insurance carriers do not always discuss the certain coverage options that provide crucial protection at typically a minimal premium cost to you.
We Highly Recommend:
Uninsured and Underinsured Motorist coverage.
Your insurance agent will sell you the minimally required bodily injury coverage that protects you financially if you were at fault from the other driver and your passenger. However you may be at the mercy by the other driver’s insurance coverage for the amount you can recover if the other injured you! The Good News is uninsured/underinsured premiums are very small and offer great protection. Not every insurance agent explains this very important difference. We suggest a minimum of a commonly referred to $100,000/$300,000 bodily injury coverage with matching $100,000/$300,000 uninsured/underinsured coverage. Certainly more coverage is better.
Collision Coverage.
For the vast majority of cases in Michigan, the other driver is not responsible for your bike’s damage. There are exceptions to this rule regarding collision coverage however most accidents result in your motorcycle being totaled. We recommend insuring your motorcycle for collision, theft and fire.
Accessories Coverage.
This covers your aftermarket parts and protective gear. Buy the best helmet and gloves you can afford. I can attest good gear can make the difference between walking away with no injuries or sustaining a possible closed head injury and skin grafts. The Good News, confirm with your agent that your gear is covered in a crash and enjoy your good gear with the knowledge you are protecting yourself.
Comprehensive Coverage.
For a small premium you are protected from fire, theft, vandalism and damage incurred from hitting an animal. It’s a small premium.
Medical Coverage.
In General, the best coverage option seems to be obtaining your own health insurance. As a side note, if you roadrace or motocross race, be sure your private insurance carrier does not exclude coverage for this activity.
Example: If the other driver only has the minimum coverage (currently $20,000 per person/$40,000 per incident) the other driver’s insurance only provides $20,000 to recover for your bodily injury. However, if you purchase uninsured/underinsured coverage for at least $100,000, you can then increase the amount available to you. Certainly, if the at fault driver had a greater coverage amount, then this becomes a non-issue but why take that chance of lack of coverage for your injury? What this means if you have a $300,000 insurance policy without uninsured or underinsured coverage and the other driver has a small $20,000 policy, you may be limited in receiving only $20,000 for pain and suffering from the other driver’s insurance carrier. The good news is typically uninsured and underinsured premiums are very small. The bad news is your agent may not fully explain the necessity for this kind of coverage. Feel free to call my office for free and ask what kind of coverage should you request.