Types of Insurance in Motorcycle Accidents
Nobody who drives a vehicle plans on getting into an accident. Luckily, insurance policies exist to protect people financially if a terrible event occurs. When a motorcycle accident happens, the type of insurance that both parties have can be a large factor in how the damage recovery process plays out. There are several types of policies that a motorcyclist should consider purchasing in the event of an accident on the road. If you suffered injuries while riding your motorcycle, talk with a dependable motorcycle wreck attorney to determine how your coverage, and that of the negligent party, may affect your claim.
What is Uninsured and Underinsured Motorist Coverage?
The most important piece of coverage that someone could have under their own auto policy is uninsured motor vehicle coverage (UM) and underinsured motor vehicle coverage (UIM). If a driver without insurance (or with low policy limits) hits a motorcyclist, the injured party can make a claim to recover damages under their own insurance in place of the negligent party.
UM takes effect when the driver has no coverage, while UIM takes effect if the limits of their coverage are not enough to fairly compensate for the injuries. It is up to the rider to determine how much of this coverage they want to purchase, but it is likely the most important facet of insurance that a motorcyclist could sign up for.
If a motorcycle rider is struck by another vehicle and the driver flees the scene of the accident, the injured person could file a claim under their uninsured motorist coverage. However, a local attorney could still attempt to track down the negligent party.
What Type of Insurance is Excess/Umbrella Coverage?
Umbrella coverage is a second insurance policy that an individual can purchase on top of their own policy to cover any claims that exceed their policy limits. They have the option of adding umbrella coverage to their UM and UIM policy. While this is not strictly necessary, it can provide an extra level of comfort to someone who is at risk of an accident.
Full and Minimum Coverage in Ohio
Some claimants believe that they have “full coverage” for an accident. However, the concept of full coverage does not necessarily exist. While they may have a high limit, it is always possible that an accident is severe enough to require more money than the limit allows.
The minimum coverage required for a motorcyclist in the state of is $25,000. There is also no rule stating that an individual must have uninsured or underinsured motorist coverage, but riders should be aware that this means other drivers might only have $25,000 available as well. As a result, in severe crashes, this might not be enough to compensate for injuries.
Talk to an Attorney About the Types of Insurance Someone Can Use Following a Motorcycle Accident
There are multiple ways of protecting yourself financially from an accident on the road. By analyzing the different types of insurance available for motorcycle accidents, you can decide which option works best for you. You can even protect yourself in the event that the opposing driver flees the scene or does not have insurance of their own. Tittle & Perlmuter could provide helpful advice on the types of insurance a motorcycle rider should consider. Contact an attorney today for a free consultation.