Lawyer Makes Motorcycle Insurance Coverage Recommendations


– [Barry Zlotowicz] Are you looking at getting motorcycle insurance and you wanted a little advice from an Injury Attorney about what is the best type of motorcycle insurance to get, check out this short video. (gentle music) Hey everybody Barry here with the LawFul Channel. I’m a Personal Injury Attorney in Chicago and I’ve done a lot of motorcycle accidents. So I’m trying to share some information about things that motorcycle riders should and shouldn’t do, before and after an accident. In this video, I wanna talk about insurance coverage.

It’s not sexy, but it’s super important.

If you haven’t already, would you subscribe to our channel? And if you have any questions or comments, put them in the comment section below. If I can’t help you, I’ll find someone who can. All right.

Whenever I get a call from somebody who was just in an accident, they almost always tell me, “I have full coverage.” They almost always say that. And almost inevitably, they end up not having full coverage. It just never fails. I don’t know why.

But I think there’s a misconception about what full coverage insurance means for motorcycle riders. And every state, almost every state has mandatory insurance limits. In my home state of Illinois, you have to have $25,000 in insurance. And check the laws in your state to see what you are required to have. But there are six types of insurance that I think that every motorcycle rider should have.

And I’m gonna tell you about them right now. All right. The first type of insurance is what I already mentioned. Liability insurance. That’s what we have to have.

But liability Insurance is just the tip of the iceberg. It’s just the start. That’s the insurance you have if you cause damage to somebody else. Well, you’re on the motorcycle. They’re in a car.

They’re not gonna be damaged. They may have some property damage, but they’re not gonna get hurt.

You’re the one that’s gonna get hurt. So it’s critical to have these next types of insurance. So the second type of insurance you should have is Uninsured and Underinsured Motorist Coverage, sometimes called UM or UIM.

This is the most important insurance you can have. Trust me on this. There’s a huge number of people driving on our streets that are uninsured altogether. And a lot of the rest of the people have the minimum insurance limits.

Well, if you’re an Illinois, for example and you get hit by a car that has $25,000 insurance, that might not even cover your medical bills for somebody who’s on a motorcycle.

So how do you recover for your pain and suffering and the like. That’s why it’s critical to have UM and UIM. Now a lot of insurance companies don’t push this, because insurance has become a commodity, they try to sell you the cheapest package to keep you from going from Geico to another insurance company. Don’t fall for it. It’s critical you have UM and UIM coverage.

And at least if you can have $100,000 that should protect you in the event, you get into an accident with a driver who doesn’t have enough insurance to cover your damages.

Okay. Insurance type number three that you should have. Collision and Comprehensive Coverage. I can’t tell you how many times I’ve gotten a call from somebody who said that they were involved in an accident.

And they went to their own insurance company to get the property damage fixed and they didn’t have collision coverage. That’s why collision coverage is so important. And it’s not that expensive. Comprehensive Coverage covers you if you’re not involved in an accident or if maybe a tree falls and hits your car, or whatever it is. Either way if you can afford it, add Collision and Comprehensive Coverage to your insurance policy.

The fourth type of insurance you should add is something that I’ve seen in a lot of videos and they tell you it’s not important.

It’s called Med Pay. Medical Payment In Coverage. In some States it’s called PIP. Personal Injury Protection Coverage.

And the idea behind Med Pay is that the first 2,500 or 5,000 or $10,000 of your medical expenses are covered by your insurance. Now, a lot of people think if they have insurance, health insurance, they don’t need it. Well, you’re still gonna have copays and those copays are killer for people, especially if you’re going into physical therapy, you’ve gotta pay 20 or $40 every time you gotta go.

So Med Pay can really be an advantage and it will add like five or $10 to your insurance policy. So it’s my opinion that it’s important not to skip out on having a Med Pay or having Med Pay coverage in your policy.

Okay. Insurance coverage type number five. Rental Insurance. If your bike goes down, are you gonna be able to get another bike during the interim while your bike is being repaired? Check your policy to see if you have this type of coverage.

And if not, see if you can add it. Okay. And the sixth type of insurance you’re gonna wanna have in your insurance policy is GAP Insurance, G-A-P. It stands for Guaranteed Asset Protection. Now, sometimes you get this from state firm or whatever but oftentimes you can also get it at the dealership when you buy your bike.

And here’s the thing about GAP Coverage. If you buy a $30,000 Harley. All right? The second to take it off the showroom floor it loses value. Right?

Let’s say six months later, you’re driving the bike and you get into an accident and the bike is towed.

Well, you still owe $30,000 but the insurance company just valued your bike at $22,000. So there’s an $8,000 balance that you owe the finance company. Who’s gonna pay that? If you don’t have GAP Insurance Coverage, you’re gonna pay that.

Get these calls all the time. It’s a lousy situation. GAP Insurance is really inexpensive. So consider getting it, if you haven’t already. Okay.

Now it’s time for your take on the law.

Did you have an issue where you didn’t have one of these types of insurance and you got in an accident? Tell us about it in the comment section below. Hey everybody. Thanks for checking out this short video but important video on the types of motorcycle insurance that riders should have.

If you haven’t already, would you subscribe to our channel? And if you have any questions or comments, put them in the comment section below. If I can’t help you, I’ll find someone who can.

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