As a motorcycle injury attorney for over 25 years, many people take the opportunity to speak with me after I lecture on insurance issues for the motorcyclist throughout New Jersey. I am always asked what coverages I would recommend. This is what I suggest:
1. Bodily Injury Liability: This coverage protects you financially if you injure someone else and therefore at a minimum I would recommend $250,000.00 – $500,000.00 per accident. However, I would suggest that you look at the cost for increasing to $500,000.00 single limit on motorcycle insurance if available.
2. Uninsured/Underinsurance Motorist Coverage: This is truly the most important section of your motorcycle insurance policy. It is extremely important that you maintain as much as you possibly can in this regard. Therefore, whatever amount you are willing to pay for under #1 Bodily Injury Liability ($500,000.00 hopefully), you should have the same here in your Uninsured/Underinsurance Motorist Coverage. Once in a while, your insurance company will provide to you a lesser amount of Uninsured/ Underinsurance Motorist Coverage than they have provided to you for Bodily Injury Liability because you selected it accidently without knowing the consequences. This should not happen under New Jersey law. I would urge you to check your declaration or face page of your motorcycle insurance policy right now and, if the amount of your Uninsured/ Underinsurance Motorist Coverage does not equal the amount of your Bodily Injury Liability, please make certain that you change it immediately. This section is so important that I urge you again to take the opportunity to call me at 1-800-TEAMLAW to discuss it if you are unsure of what you currently maintain. There is never a charge for a legal consultation.
3. Property Damage: This is the coverage that would pay for someone else’s property if you are involved in a collision that was your fault. I would suggest a minimum of $100,000.00 as it is a relatively inexpensive premium.
4. Medical Coverage: Be advised that most motorcycle insurance policies do not offer this coverage, but if you want it, some will sell it to you, but usually an amount no more than $5,000.00 to $25,000.00. Please feel free to shop around if you do need additional medical coverage, I would urge you to do so.
5. Collision/Comprehensive/Fire/Theft/Auto: Most people are familiar with these coverages, however, not everyone has them. If you have a motorcycle and you cannot afford to replace or pay for repairs, you must carry collision coverage. The same goes for any other damage caused by anything other than a collision, such as fire, theft and vandalism.
As always, if upon reading this material you have any questions regarding this topic or others, please feel free to contact me here or 1-800-TEAMLAW (800-832-6259).