What is motorcycle accident insurance?
Motorcycle accident insurance gives you peace of mind about your wellbeing when you’re out enjoying the freedom that riding your motorbike allows. However, riding a motorbike can be dangerous and always carries a degree of risk. By UK law you are required to have, at least, third party protection.
A third party policy pays out to recompense other drivers, passengers or pedestrians if they suffer bodily injury or property loss in an accident that can be attributed to you. However, third party accident insurance does not cover your own motorcycle should it be damaged, nor does it cover a serious injury if you are severely hurt.
To cover against damage to your motorcycle
Personal accident insurance compensates you for physical injury should you be unfortunate enough to be in a collision. Comprehensive motorcycle accident insurance covers the cost of repairs to your motorcycle if the vehicle is damaged or destroyed in a collision. Comprehensive insurance also covers losses if your bike is destroyed in a fire, hit by lightning, damaged during a theft or is itself stolen.
Personal accident insurance coverage
Personal accident insurance should be seriously considered for any rider who is concerned about his or her safety on the road. A personal accident policy recompenses the policyholder for the permanent loss of sight or hearing, limb loss or another permanent disability that prevents resuming an everyday job.
In the tragic event of your death, motorcycle accident insurance pays out a fixed sum to your family. This money may supplement their living, covering the loss of your income, repay debts should you have any, as well as covering the cost of your funeral. This sum is generally free from income tax, although your family may be charged an inheritance tax if the total value of your estate exceeds the government’s tax threshold.
In the unfortunate event of you being permanently disabled or dismembered, you will receive your compensation as a fixed amount or in instalments as an income benefit; this would be determined by the type of policy you take out originally. As an alternative to personal accident insurance, consider income protection cover – this pays out a scheduled benefit if you become unemployed due to injury. Although a personal injury policy may prove valuable under certain circumstances, you may already have cover against permanent injury through other policies.
How can Accident Advice Helpline help you if you need to make a motorcycle accident insurance claim?
Should you be in the unfortunate position of having to make a motorcycle accident claim, Accident Advice Helpline can help you through your difficult time. Accident Advice Helpline is specialist law firm and we only handle personal injury claims. We have friendly and professional advisers who can guide you through the legal process or provide free advice to anyone in need, without obligation to take a claim forward. You can give our team a call on 0800 689 0500 (landline) or 0333 500 0993 from your mobile phone to discuss things in more detail.
Date Published: 22nd January 2013
Author: David Brown