If you own a motorcycle or a watercraft, such as a boat, you should consider specialty insurance. Accidents happen and recovering financially can be expensive. Having the right insurance policy can protect you from paying significant out-of-pocket costs following an accident.
What is specialty insurance?
Specialty insurance is a type of coverage dedicated to unique items, such as a motorcycle or a boat. In exchange for an insurance premium, your motorcycle or boat will be covered by your insurer if an accident occurs. Once you hit your deductible, or the amount you pay until your insurer steps in to help, your insurer will be able to provide financial assistance for repair or recovery costs.
Coverages vary depending on a variety of factors. A typical motorcycle policy might include the following:
· Liability insurance, which helps cover bodily injury and property damage that you may cause to other people if you are in an accident. Most states typically require this coverage.
· Collision insurance, which helps cover damage to your motorcycle if you are involved in an accident.
· Comprehensive insurance helps pay for damages caused by events other than collisions. This can include fire, theft or vandalism.
· Uninsured/underinsured motorist, which helps cover damages to you and your property if you get into an accident with an uninsured or underinsured driver.
· Optional equipment, which helps cover additional or optional equipment on your motorcycle if you decide to customize it.
Similar to motorcycle insurance, coverages can vary from owner to owner. A typical policy might include the following:
· Liability coverage, which helps cover expenses if your boat causes damage to another person’s property.
· Medical payments coverage, which helps cover medical expenses if you or a passenger gets injured on your boat.
· Boat insurance property coverage, which helps protect your boat from various risks and potential incidents by covering costs related to theft or vandalism.
· Uninsured boater coverage, which helps cover expenses if an uninsured boater collides with you and causes injury to you or your passengers.
· Total loss replacement, which helps cover expenses if your boat sinks or endures an accident in which there is irreparable damage.
If you live near Marietta, Georgia, contact Marietta Insurance Services at 770-704-5000 to learn more about specialty insurance.