Collision and comprehensive coverage are almost always bought together, but they cover different risks. Basically, both cover your motorcycle against damage or total loss – and are, thus, the opposite of property liability coverage.
But collision only covers your bike when it is in a collision with another vehicle or some other object, while comprehensive covers all the rest. “The rest” doesn’t include every possible incident since there are exclusions.
But most things are covered – such as theft, vandalism, damage from weather or falling objects, and more. This is as close as you can get to “complete” or “full coverage” motorcycle insurance.
What Doesn’t Collision/Comprehensive Motorcycle Insurance Cover?
If you have a loan out on your new or high-value bike, chances are your lender will require collision and comprehensive motorcycle insurance to protect the bike’s value. But even if you own your motorcycle outright, it’s well worth adding this level of coverage to protect your investment.
However, realize that comprehensive cover does not include ordinary wear and tear or mechanical breakdowns. (But you can add roadside assistance and trip insurance.) Also, comprehensive will not automatically include coverage for customized or added-on parts. But you can add a rider to your policy to cover non-original parts if you wish.
Collision will not pay for medical expenses related to a motorcycle collision nor for damage done to another driver’s vehicle – that’s the job of PIP, medical payments, and property liability. Collision just pays for your own vehicle that is damaged in an accident.
When Is Comprehensive & Collision Worth Adding?
The extra coverage provided by comprehensive and collision for your bike are always desirable, but the question is whether it’s worth the additional premium. In many cases, it is. But each motorcycle owner has to weigh the costs, benefits, and risks for him or herself to make an informed decision.
You can lower the premium quite a bit if you opt for a higher deductible. Note that collision and comprehensive will have a separate deductible each, and these may differ from the deductible on other elements of your overall policy. You can customize your coverage, including deductibles, with the help of a motorcycle insurance agent or broker.
Anyone with a bike out on loan, a high-value bike, who makes heavy use of his/her motorcycle, or who uses it in a high crime rate area, in heavy traffic, or on long trips (on a regular basis) would do well to add comprehensive and collision protection to their motorcycle insurance plan.
For more information on the ins and outs of comprehensive/collision motorcycle insurance, to discuss customizing your policy with an experienced insurance agent, or for a free, no-obligation quote – contact Flagler County (FL) Insurance Agency today!