As a leading producer of motorcycle insurance, Aegis General understands that brokers and agents require help in providing products to this nationally underserved market. For enthusiasts, choosing the right insurance policy is very much like choosing the right motorcycle; they need something to fit their needs and lifestyle, but are very concerned about finding a policy that fits within their budget.
Being involved in an accident while riding a motorbike can be extremely dangerous, especially if your client has a passenger on their bike. They’re going to need liability insurance that covers bodily injury and property damage that they may cause to other people involved in an accident. As a broker, you need to deliver coverage (where applicable) that includes guest passenger liability, which provides protection in the event that a passenger is injured on the motorcycle.
They will also need collision coverage where the insurance company pays for damages, minus any deductible, caused when your client collides with another vehicle or object.
Collision insurance usually covers the book value of the motorcycle before the loss occurred.
The comprehensive coverage pays for damages, such as fire, theft or vandalism, or any event other than a collision. Otherwise, it is similar to collision coverage with regards to the deductible, and only covering the book value of the motorcycle. As a side note, most comprehensive and collision coverage only covers the factory standard parts on the motorcycle, so if the owner has added on any optional accessories, such as chrome parts, a custom paint job, etc., agents or brokers should look into having them obtain additional, or optional equipment coverage.
Uninsured or underinsured motorist coverage
Uninsured/underinsured motorist coverage is another important consideration since it covers damages to your client and their property when caused by another driver who either doesn’t have insurance (uninsured) or doesn’t have adequate insurance (underinsured) to cover the damages.
Finally, you may want to interest your clients in ways that they can receive discounts on coverage. Training courses, maintaining a good driving record, even multi-bike discounts are some ways to lower their premiums. Aegis General wants to do their part to get your clients the coverage they need at a price they can afford.