1. Purchase Health Insurance
    Most motorcycle accidents result in medical bills over $100,000. Having health insurance even one with a high deductible can help ensure that you won’t need to file for bankruptcy because of those bills.
  2. Purchase Uninsured Motorist Insurance
    This is the most important, if not the single most important way to avoid bankruptcy after a motorcycle accident.

    Florida has one of the highest uninsured motorist rates in the country! 1 in 4 drivers operates their vehicle with little or no insurance coverage at all.

    So not only do we have some of the worst drivers in the country, but they also don’t have any insurance to pay you with after they cause an accident.

    By purchasing uninsured motorist insurance if you’re involved in an accident with one of these individuals and its not your fault, or, it’s a hit and run, this insurance will kick in to compensate you for your medical bills, pain and suffering, and, most importantly, your lost wages.

    Most motorcycle accidents result in months of recovery in which you most likely won’t be able to work. This insurance can help cover those missing paychecks.

    Always try to purchase as much uninsured motorist insurance as you can afford but since it can get expensive a good rule of thumb is that if you have health insurance, purchase at least enough uninsured motorist insurance to cover one-years’ worth of your salary.

    If you have no health insurance then purchase as much uninsured motorist insurance as you can afford.

  3. Purchase Bodily Injury and Property Damage Insurance
    If you’re found at fault for an accident you will be personally liable for any personal injury caused to another person and/or your passenger. You’ll also be liable for any property damage caused.

    Purchasing this insurance will help cover those damages and help avoid having to file bankruptcy.

    However, keep in mind that you’re still liable for any damages that exceed your policy limits.

    Without having bodily injury insurance, Florida will suspend your driving privileges, registration, and tag for up to three years if the accident resulted in any injuries to a third party and it was your fault.

  4. Purchase Medical Payment Insurance
    This insurance will reimburse you for any out of pocket medical expenses incurred up to your policy limits regardless of who was at fault for the accident.

    So, let’s say you’re involved in a motorcycle accident. You were rushed to the hospital, and it was later determined that it was your fault.

    You purchased $10,000 worth of medical payment insurance and have health insurance with a deductible of $8,550.

    Your medical payment insurance will reimburse you for your $8,550 deductible and leave you with a balance of $1,450 for any other out of pocket medical expenses you may have even though the accident was your fault.

A lot of factors come into play when trying to determine the right amount of insurance for you to purchase.

As a special bonus to the members of my Facebook group Florida Motorcycle Riders. I am available to answer any of your questions and willing to review your policy and situation at absolutely no charge.

Also, every member of this group is entitled to a free 30-minute phone or video consultation each month on any questions they might have.

If interested click here to join our group today!