When you are driving any kind of vehicle, there is always the possibility that there might be an accident. That is the reason it is important to have insurance for your vehicle, no matter what it is. If you are a motorcycle owner, with a bike you use as regular transportation, you need insurance. Even if you own vintage bikes that are rarely ridden, you need insurance for them as well.
Medical payments coverage will cover health or medical expenses that are associated with any injuries to you as the driver or any passenger on your motorcycle. For example, if there is a motorcycle accident, and if there is a necessity for an ambulance, hospitalization, diagnostic x-rays, or any kind of surgery, the medical payments coverage takes care those costs.
If you have to be hospitalized as a result of a motorcycle accident, it is possible that those expenses could be excessive. You may also lose income and have child care expenses as result of the hospitalization. Or, worst case scenario, there could be burial expenses in the event that you die as a result of the accident. Personal injury coverage will cover your hospital expenses, lost wages, burial expenses, or childcare expenses in the event that you are involved in a motorcycle accident.
If there is damage to your motorcycle, collision coverage will cover that. For example, if you collide with a car or any other object, collision coverage will pay for any damage that occurs to your motorcycle. There are times when your bike may be damaged as a result of incidents that do not necessarily involve another vehicle. For such things, there is comprehensive coverage. For example, comprehensive coverage will cover repair and replacement costs for your motorcycle if it is damaged by events such as flooding, wind damage, theft, or any other reason that does not involve another vehicle.
If you get into an accident that is not your fault, it is necessary to have uninsured or underinsured bodily injury coverage so that you do not end up paying for someone else's mistakes. For instance, if someone hits your motorcycle, that person may or may not have vehicle insurance. Uninsured or underinsured bodily injury coverage will cover you whether the other driver has coverage or not. If on the other hand you are the one that causes damage to someone else's vehicle in an accident, this coverage will pay for the damages that you cause.
If you are the one at fault in an accident, you may have to cover the medical costs for any passenger riding on your motorcycle. You may also have to cover the medical costs for the driver of the other vehicle which you damaged. Bodily injury liability coverage will cover damage done to any passengers you have and will cover damage done to the driver of any other vehicles. There are so many hazards to being a driver of any motorized conveyance, that the proper insurance is of the utmost importance.