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Lawyer Makes Motorcycle Insurance Coverage Recommendations - YouTube
Channel: LawFull
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are you looking at getting motorcycle
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insurance
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and you wanted a little advice from an
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injury attorney about what is the best
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type of motorcycle insurance to get
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check out this short video
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hey everybody barry here with the lawful
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channel i'm a personal injury attorney
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in chicago
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and i've done a lot of motorcycle
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accidents so i'm trying to share some
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information about things that motorcycle
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riders should and shouldn't do
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before and after an accident in this
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video i want to talk about
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insurance coverage it's not sexy but
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it's super important
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if you haven't already would you
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subscribe to our channel and if you have
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any questions or comments
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put them in the comments section below
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if i can't help you i'll find someone
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who can
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alright whenever i get a call from
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somebody who is just in an
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accident they almost always tell me
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i have full coverage they almost always
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say that
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and um almost inevitably they end up not
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having full coverage
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it just never fails i don't know why but
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i think there's a misconception about
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what full coverage insurance
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means for motorcycle riders and
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every state almost every state has
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mandatory insurance limits in my home
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state of illinois you have to have 25
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000
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in insurance and uh check the laws in
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your state to see what
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you are required to have but there are
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six types of insurance that i think that
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every motorcycle rider should have
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and i'm going to tell you about them
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right now all right the first type of
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insurance
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is what i already mentioned liability
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insurance that's what we have to have
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but liability insurance is just the tip
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of the icebreak it's just the start
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that's the insurance you have if you
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cause damage to somebody else
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well you're on the motorcycle they're in
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a car
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they're not going to be damaged they may
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have some property damage but they're
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not going to get hurt you're the one
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that's
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getting hurt so it's critical to have
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these next types of insurance
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so the second type of insurance you
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should have is uninsured
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and underinsured motorist coverage
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sometimes called um
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or uim this is this this is the most
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important insurance you can have trust
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me on this
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there's a huge number of people driving
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on our streets that are uninsured
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all together and a lot of the rest of
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the people have the minimum insurance
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limits
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well if you're in illinois for example
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and you get hit by a car that has twenty
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five thousand dollars insurance
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that might not even cover your medical
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bills for somebody who's on a motorcycle
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so how do you recover for your pain and
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suffering and the like
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that's why it's critical to have um and
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uim
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now a lot of insurance companies don't
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push this because insurance has become a
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commodity and they try to
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to sell you the the cheapest package to
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keep you from going from
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geico to another insurance company don't
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fall for it
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it's critical you have um and uim
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coverage and at least
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if you can have a hundred thousand
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dollars that should protect you in the
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event you get in an accident
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with a driver who doesn't have enough
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insurance to cover your damages
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okay insurance type number three that
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you should have
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collision and comprehensive coverage i
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can't tell you how many times i've
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gotten a call
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from somebody who said that they were
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involved in an accident and they went to
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their
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own insurance company to get their
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property damage fixed and they didn't
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have collision coverage
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that's why collision coverage is so
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important and it's not that expensive
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comprehensive coverage covers you if
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you're not
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involved in an accident or if maybe a
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tree falls and hits your car or whatever
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it is
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either way if you can afford it add
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collision and comprehensive coverage
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to your insurance policy the fourth type
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of insurance you should add is something
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that i've seen a lot of videos and they
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tell you it's not important it's called
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med pay medical payment and coverage in
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some states it's called pip
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personal injury protection coverage and
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the idea behind
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med pay is that the first 2 500 or 5 000
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or ten thousand dollars of your medical
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expenses are covered by your insurance
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now a lot of people think if they have
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insurance health insurance they don't
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need it
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well you're still gonna have co-pays and
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those co-pays are killer for people
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especially if you're going to physical
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therapy you've got to pay 20 or 40
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dollars every time you got to go
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so mid pay can really be an advantage
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and it'll add like five or ten dollars
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to your insurance policy
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so it's my opinion that it's important
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not to skip out on having a med
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pay or having med pay coverage in your
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policy
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okay insurance coverage type number five
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uh rental insurance if your bike goes
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down
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are you going to be able to get another
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bike during the interim while your bike
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is being repaired
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check your policy to see if you have
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this type of coverage and if not
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see if you can add it okay and the sixth
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type of insurance you're going to want
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to have in your insurance policy
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is gaap insurance gap it stands for
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guaranteed asset protection
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now sometimes you get this from state
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farm or whatever but oftentimes you can
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also get it at the
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dealership when you buy your bike and
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here's the thing about gap
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gap coverage if you buy a thirty
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thousand dollar harley
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all right the second you take it off the
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showroom floor loses value right
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let's say uh six months later you're
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driving the bike and you get in an
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accident and the bike is totaled
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well you still owe 30 thousand dollars
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but the insurance company just valued
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your bike
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at two thousand dollars so there's an
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eight thousand dollar balance that you
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owe the finance company
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who's going to pay that if you don't
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have gap insurance coverage
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you're going to pay that get these calls
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all the time it's a lousy situation
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gap insurance is really inexpensive so
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consider getting it if you haven't
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already
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okay now it's time for your take on the
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law did you have an
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issue where you didn't have one of these
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types of insurance
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and you got an accident tell us about it
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in the comments section below
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hey everybody thanks for checking out
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this short video but important video
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on the types of motorcycle insurance
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that riders should have
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if you haven't already would you
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subscribe to our channel and if you have
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any questions or comments put them in
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the comment section below if i can't
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help you
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i'll find someone who can
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you
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