What Insurance Should I Buy for a Motorcycle?
2 Answers
For motorcycle insurance, common options include compulsory traffic insurance, motorcycle damage insurance, third-party liability insurance, theft insurance, passenger seat liability insurance, spontaneous combustion insurance, and scratch insurance. Compulsory Traffic Insurance: This refers to an insurance policy where, in the event of a road traffic accident caused by the insured motorcycle resulting in personal injury, death, or property damage to victims (excluding the driver and passengers of the insured vehicle and the policyholder), the insurance company provides compensation within the liability limits. Third-Party Liability Insurance: As for motorcycle third-party liability insurance, it refers to a situation where the insured or an authorized driver causes an accident while using the insured motorcycle, resulting in personal injury, death, or direct property damage to a third party, for which the insurer is required to provide financial compensation.
When I first bought my motorcycle, I was a total newbie who knew nothing, but insurance was something I couldn't afford to be careless about. The most basic is compulsory insurance, also known as traffic accident liability insurance, which the government requires you to purchase. It mainly covers compensation for the other party's losses if you hit someone while riding. Motorcycles are fast, and without this insurance, you'd be in big trouble if an accident happens. I also added third-party liability insurance. The premium isn't expensive, but it offers higher coverage. As a beginner prone to fumbling and bumping into others, this kind of insurance is a lifesaver. I didn't get comprehensive insurance for now because my bike isn't expensive, and I wanted to save money. But if the motorcycle were newer and pricier, I'd consider it. In short, don't skimp on insurance—safety comes first. I recommend new riders consult with an insurance company or use an online app early on, rather than regretting it when it's too late.
