Three motorcycle insurance add-ons to consider

You need to find the right motorcycle insurance policy in Arvada, CO to protect yourself from financial liabilities. At Alliance Insurance Services, we offer a variety of options to those on the market for motorcycle insurance.

The following are three motorcycle insurance add-ons you might want to consider if you’re looking to insure your bike. 

Loan/lease gap coverage

It’s possible that you’ll be dealing with an underwater loan or lease on a motorcycle at the moment when your bike gets totaled. In this case, you would have to continue making payments on a bike that you don’t have anymore.

If you purchase loan/lease gap coverage, you’ll be compensated for any leftover payments on your loan or lease. 

Uninsured or underinsured motorist coverage

There are a lot of motorists out on the roads who are not carrying adequate insurance. If you have the misfortune to get in an accident that is caused by one of these motorists, you’ll want to have uninsured or underinsured motorist coverage. This provides additional coverage to make up for a lack of insurance on the part of another motorist. 

New motorcycle replacement coverage

A typical insurance policy will cover you for the estimated market value of your bike in the event of a total loss. However, you might want to be able to buy a completely new bike if your bike gets totaled. To get full coverage for a new replacement bike, you’ll need to add new motorcycle replacement coverage to your policy. 

We’re here to answer all your questions on these motorcycle insurance add-ons and more. If you would like to learn about our policies in Arvada, CO, contact us at Alliance Insurance Services.