What does motorcycle insurance cover?
There are two types of insurance for motorcycles, broad and limited coverage. The limited coverage generally covers civil liability for damage to third parties and total theft, as well as legal expenses derived from certain types of events.
For its part, the comprehensive coverage can cover property damage, total theft, total loss in the event of an accident, civil liability, expenses and legal representation, medical expenses up to 100,000 pesos and accidents.
There is insurance that covers compensation for the family of a fatal victim in the event that you cause an accident where someone dies. In addition, it is recommended that you look for an option that protects, with insurance for medical expenses. to your companion, in case of accident.
What does motorcycle liability insurance entail?
In the event that you occasionally damage people or property of third parties, this type of insurance covers expenses for an amount that can reach up to 3 million pesos, depending on the insurer.
On the other hand, you should know that, in case of theft or total loss of the motorcycle, insurers consider three different compensation values:
- Commercial value: it is the devalued price of the motorcycle.
- Invoice value: the price at which the vehicle was purchased
- Agreed value: a range of prices offered by the insurer to the client, from the beginning.