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A deductible in a motorcycle insurance policy is the amount you are responsible for paying before the insurance coverage becomes effective, this goes up to a maximum established in the policy. Get more information on how the concept of deductible and limits work within a motorcycle insurance policy.
When it comes to motorcycle insurance, it’s important to understand that each coverage in your policy has a limit. For example, if you were to cause an accident while riding your motorcycle and another person is injured, would pay up to the limit of the coverage you have purchased in your policy. In this scenario, If the compensation that the injured person is awarded is $57,000, and you have a $50,000 per person bodily injury liability limit, your insurance would cover the first $50,000 and you would be responsible for the remaining $7,000.
It’s important to note that you have the option to choose the coverage limits on your policy, as long as they meet the minimum requirements set by your state. Choosing a higher limit may mean a higher insurance premium, but it could also provide a safety net that can help protect you from having to pay a large amount out of pocket later on. When considering coverage limits, it’s a good idea to think about what you can afford both now and in the long term. By choosing a higher coverage limit, you can ensure that you are better protected in the event of a claim and have a peace of mind knowing that you have adequate coverage.
