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P.O. Box 1750, Cockysville, MD, 21030
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Personal Protection Bulletin
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Motorcycle Insurance Basics
You're one with the road when you ride your motorcycle. However, you need to ensure your ride and your assets are protected if you ever cause or are in an accident. Know the basics of motorcycle insurance as you purchase this valuable protection.
Types of Motorcycles Covered
Standard motorcycles are covered by a motorcycle insurance policy. However, you can also use your policy to insure your specialty bike, including:
Touring and sport-touring bike
Street or sports bike
Limited-production and custom bike
Types of Motorcycle Insurance Coverage
Unlike auto insurance, motorcycle insurance is not mandatory in every state. However, replacing your bike or paying for someone's medical expenses after an accident can wipe out your financial assets.
A standard motorcycle insurance policy protects your assets and includes several essential coverage types.
Bodily injury - Pay medical bills for anyone who's injured after an accident you cause.
Property damage liability - Cover expenses caused when your motorcycle crashes into someone's personal property.
Uninsured/underinsured motorist - Pay for property damages, injury bills, lost wages and other expenses after a collision with a driver who does not have insurance or adequate insurance coverage.
Additionally, you may purchase several optional coverages, such as:
Personal Injury Protection (PIP) - This no-fault insurance covers the medical expenses of your passenger or pedestrians after an at-fault accident.
Medical payments - Pay for your medical treatment after an at-fault or no-fault accident.
Comprehensive - Replace your lost or stolen motorcycle or repair a damaged bike after vandalism, a natural disaster or other non-accidental incident.
Collision - Repair your damaged bike and replace damaged riding apparel and helmets after a collision.
Optional equipment - Replace customizations you make to your bike.
Accessory - Receive up to $30,000 based on the actual cash value (original value minus depreciation) of your bike's customized parts and equipment.
Towing and labor - Receive a payout if you're stranded, need a tow or break down. It also covers labor costs associated with a flat tire, dead battery, low fuel or fluids or lost key.
Trip interruption - Cover mechanical breakdowns and receive cash for lodging, food and transportation if you file a claim while you're on a long distance ride.
Motorcycle Insurance Costs
Your motorcycle insurance policy cost depends on your policy's deductible and the type and amount of coverage you purchase. Factor in your riding habits and personal preferences, too. You may want increased coverage if your bike is expensive, you ride highly-populated areas or you're an inexperienced motorcyclist.
Motorcycle insurance gives you peace of mind and protects your assets. Contact your insurance agent today for a customized policy that meets your budget and needs.
HMS Insurance Associates, Inc.
Insurance for your Techy Home
If you want to insure a mansion or a priceless art collection, don't be surprised if a certified thermographer shows up at your door, infrared camera in hand.
Thermal imaging cameras are among the latest high-tech tools Homeowners insurers are using to help stem losses before they become catastrophes, saving policyholders from heartbreak and companies millions in damage claims.
One major insurance company is using thermal imaging cameras for its high-value homes, letting inspectors "see" hidden hot or cool spots. A hot reading might indicate a fire hazard from an electrical malfunction, while a cool reading could come from a leak. In one case, the camera detected a cool spot in a ceiling due to a leak caused by a faulty 37-cent clip in an upstairs ice maker. If the ceiling had collapsed, it would have caused $125,000 in damage.
High-tech devices aren't limited to the high-end market. One insurer offers an online risk-assessment tool that its Homeowners clients can use to find the risks for flooding, wildfire and storm surge, based on their address. This company also provides its clients inexpensive alarms that can detect potential water leaks before they can cause extensive, and expensive, damage.
Insurance companies are exploring new technologies. One insurer has patented a data recorder that can be installed in building to analyze potential causes of damage or destruction. Another company has filed a patent for a system that would use spectroscopy to identify chemical changes caused by wildfires and other natural disasters. If such a change were detected and confirmed, the company could speed up the claims process.
HMS Insurance Associates, Inc.
What is Recreational Vehicle Insurance?
In a recreational vehicle, you and your family can explore the United States, enjoy a vacation or retire in style. Since your RV is both a home and an auto, you'll need recreational vehicle insurance. It protects your investment and assets and gives you peace of mind.
Why Buy Recreational Vehicle Insurance
Whether you drive a large motorhome or pull a pop-up, your recreational vehicle is an investment you want to protect. Insurance won't prevent an accident, but it will cover repairs if your RV is damaged.
You also want to be insured if you're in an accident or cause property damage as you navigate your RV. Insurance reduces your liability and can protect your assets.
For your protection, consider these coverage options.
Towing and labor costs
Vehicle rental costs
Personal possession coverage
Benefits of Recreational Vehicle Insurance Coverage
While some homeowners and auto insurance policies cover RVs, consider a policy that's specific to your recreational vehicle. Specialized coverage is designed for RV owners like you and offers numerous options.
RV Claims Experts
- Talk to an RV expert when you file a claim.
Full Replacement Cost Coverage
- Replace your RV if it's stolen or totaled.
Coverage for Personal Belongings
- Cover your RV's contents, including appliances and personal belongings.
Emergency Expenses Allowance
- Pay for lodging, food and travel you may need after you file a claim.
Service Call Allowance
- Pay an RV repair expert to visit your location and diagnose your RV repair needs.
- Replace your entire hitch assembly, including the attachment to your truck or tow vehicle.
Coverage for Permanent Attachment
s - Replace awnings, antennas and other permanent RV attachments.
- Pay a lower insurance premium when your RV is in storage.
- Enjoy coverage similar to a homeowners insurance policy and pay any RV association charges if you live in your RV.
Talk to your insurance agent about these and other coverage options as you purchase a customized policy that meets your unique needs.
Recreational Vehicle Insurance Costs
The cost of your RV insurance depends on the type of RV you own, how frequently you use it, where you drive and where you store it. You may also qualify for discounts if you bundle other insurance coverage, join an RV club or take a defensive driving course. Your insurance agent can discuss your specific needs and prepare a customized policy that meets your needs and budget.
When you're ready to buy recreational vehicle insurance, find an agency that specializes in RV coverage. They understand your specific needs and will provide the right policy for your needs.
HMS Insurance Associates, Inc.
How Points, Tickets and Traffic School Affects Your Auto Policy
So the police pulled you over and you got a speeding ticket? Don't despair. Along with the chunk of change you're required to send the state or city, you might be eligible to take a traffic class that will keep the points off your record -- and your Auto premiums from rising.
In 41 states, the DMV transfers these points to your driving record. Insurance companies generally check this record when you take out or renew an Auto policy, change coverage, or drop or add cars and/or drivers.
Garner a few points and your premium will increase at renewal, especially if you have more than one violation in three years. For instance, according to Insurance.com, a speeding ticket will raise your premium by 11% to13%.
To keep your record clean and avoid a surcharge if you're cited for a minor violation, you might be able to complete an in-person or online traffic course. Laws, deadlines, and limitations vary by state. Most states also allow drivers who have accumulated points to have them removed by taking a safe driving class.
If you have a clean driving record and go to traffic school, most insurance companies will offer a 5% to 15% discount on Liability and Collision coverage when you renew your policy.
As a rule, taking a driver safety class will either remove points from your record for minor violations or give you a discount, but not both. There might be some variations, depending on state laws and insurance company. For example, only drivers over age 25 might be eligible for the discount, or all drivers of the insured vehicle must take the course to qualify.
For more information, just give us a call.
HMS Insurance Associates, Inc.
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