Insurance coverage that helps with repairs or replacement of devices, equipment, enhancements, and cosmetic changes other than the features originally installed by the motorcycle manufacturer.
An unintentional happening that usually results in loss, damage, or injury.
A specific dollar amount that must be paid out on a particular claim type before it can become chargeable.
A payment given per the limits of the selected coverage should a person insured on the policy die in motor vehicle accident.
A motorist license that is in good standing with the DMV.
The monetary value needed to replace an item at the time of loss, subject to depreciation.
The person who calculates premium rates, risks, etc. for the pricing of insurance policies.
A person or company protected under your insurance policy if they are named during the judicial process due to an accident that was judged the policy holder’s fault.
Replacement auto parts that were made by a company that is not the vehicle’s manufacturer.
The maximum amount of money an insurance company will pay during a policy agreement.
A company representative that sells insurance policies.
An insurance policy that covers property loss from all causes except those listed as specific exclusions.
A person or company applying for an insurance policy.
The process where a property’s value and/or degree of damage is calculated, usually determined by an independent party.
A risk that requires liability obtained from the state due to it being too high to be accepted by the insurance market.
The party who is legally responsible for the damages, injuries, or losses caused in a car accident.
A short-term, temporary insurance contract that provides coverage until a permanent policy is given.
Proof of insurance, provided temporarily until the official policy is available.
Being legally tied to an agreed upon policy.
Physical harm caused by an accident.
A person that represents the insured when negotiating business from an insurance company.
A notice that informs the insured that their policy is subject to cancellation unless they renew their policy by a specific date.
An insurance provider.
A form signed by a policyholder when he/she is satisfied with the appearance, operation, and quality of the repairs done to the insured vehicle by the repairer.
A request for payment to be granted according to the insured’s signed policy.
A person, aside from the insured, that makes a claim for payment due to a loss.
A person that determines the cause of a loss, whether the loss is covered by the insurance policy, the value of the loss, and how much of the loss is payable by the insurance policy.
Protection for your motorcycle that covers damage caused by a collision with another vehicle or object, regardless of fault.
An amendment to collision coverage that waives a deductible in the event that an insured motorcycle is damaged by an uninsured vehicle in a collision.
The determination on how the responsibility will be divided between the parties involved in an accident where there is property damage and/or bodily injury.
A term when an insurance provider requests multiple repair estimates for consideration when determining a claim for motorcycle repair or replacement.
Payment for repairs or replacement of a motorcycle damaged by something other than a collision, usually theft, fire, vandalism, or some other risk.
The expectations, rights, and duties of the insured and the insurance company under the policy.
A legal agreement between two consenting parties.
A summary of your motorcycle insurance coverage, the insurance provider’s information, the start and end dates of the coverage, and the coverages provided within the contract.
The payment threshold that the insured is responsible for before any payment is made from the insurance coverage.
A bill or policy that is overdue in payment or renewal.
A decrease in property value due to wear and tear or becoming obsolete.
A check that requires approval from the insurance company before being cleared at the bank.
A driver status given when the driver is not rated and not insured.
Coverage that is provided throughout the insurance policy period.
An amendment made to an insurance contract in order to alter the original terms.
An event, peril, or circumstance that is not covered in your insurance policy.
An employee of the insurance company that contacts insurance agents and brokers within a specific territory.
The cancellation of an insurance policy before the insurer has assumed liability, resulting in the insured getting his/her premium refunded since they were never covered under the policy.
A deliberate misrepresentation for gain.
The cost for the funeral of the insured should they pass away from the result of a motorcycle accident.
An optional addition to an insurance policy that could pay the difference in the balance of a lease or loan on a vehicle covered by the policy should it be considered a total loss in a collision.
A vehicle that has been imported to the U.S. outside the manufacturer’s distribution channels and could possibly fail to adhere to U.S. safety regulations.
An act, item, or occurrence that increases the chance of a loss.
A vehicle that has all the necessary running parts, but no established passenger areas.
The act of restoring a party’s loss to the same financial position as it was before the loss occurred.
A fee charged when making monthly installment payments of an insurance premium rather than paying the full term up front.
One or more payments made by the insured until the entire insurance premium is fully paid.
Coverage by contract wherein one party agrees to replace or reimburse another for loss under the terms of the agreement.
A motorist covered under an motorcycle insurance policy.
The company that provides the insurance policy and coverage.
The portion of an insurance policy that spells out what perils or hazards are covered by the insurance company.
A motorist’s license issued by a country other than the United States.
A period of time when an insurance policy’s coverage was not in effect.
A policyholder’s additional coverage that allows them to lower their liability limits for personal protection while the insurance company extends higher limits to the lessor.
Coverage that protects the insured from financial loss from liability claims by transferring the financial burden to the insurance company.
The collection of information to determine the cause of an accident.
The company that provided the loan and holds the title of the insured’s motorcycle.
The method that insurance companies use to succeed in covering current losses out of a current premium.
The manner used to determine the cost of an insurance policy using predetermined rates, usually from a manual.
All property damage related losses that are covered in your insurance policy.
Insurance coverage that reimburses medical and funeral costs accrued from the result of an accident.
Written or verbal misstatement of a material fact within a contract.
A report that lists accidents, citations, and violations that appear on your motorist record.
Protection and coverage provided for damage and physical harm caused by an accident involving a motorcycle.
A number issued by the National Association of Insurance Commissioners (NAIC) for each individual underwriting company.
A renowned U.S. non-profit organization dedicated to fight insurance fraud and other insurance-related crimes.
A policy issued to a person or persons that do not own or regularly operate an automobile.
Failure to take reasonable care to protect others from potential harm.
An insurance policy that covers medical expenses, funeral expenses, loss of income, and other coverage regardless of who is at fault in an accident (only available in certain states).
A notification that states that insurance coverage will no longer continue after the agreement’s expiration date.
A loss that happens during a specific place and time or over a period of time.
A replacement car part that is made by the manufacturer of the original part.
The cause of a loss such as a collision, fire, or natural disaster.
A part of a policy that could cover the medical, funeral, and other costs as the result of an accident for the insured and pedestrians struck by the insured, regardless of fault.
The insurance agreement and the expected coverage.
The maximum amount an insurance company will pay for a loss covered by the insurance policy.
Placing an insurance policy back into active status after a lapse in coverage.
The amount of money charged by an insurance company to provide coverage.
A bill that provides the price and date due to continue insurance coverage.
The insurance policy that will respond first in the event that a loss is covered by more than one policy.
Cancelling a policy before its expiration and returning an amount of the premium to the policyholder proportional to the uncovered days of the policy. Also known as pro rata cancellation or short-rate cancellation.
Coverage that pays for the property damage caused by the insured and any legal defense costs if the insured is sued.
The event that started the unintended events that led up to the loss.
The statement of an offer of an insurance premium that will be charged for the requested coverage.
The basic rating units used by insurers to calculate your final premium.
The determination of the cost of a premium based on risk characteristics and calculation of the chance of a loss.
The information that is transferred from one state to another.
When a policy is back in force without lapse after a cancellation or expiration.
A legally binding contract signed by a claimant or third party that dismisses the insurer of any liability or further liability of a specific claim.
An offer to continue insurance coverage beyond the policy’s expiration date.
When a policy is renewed past the expiration date, after a period without coverage.
A partial or full refund of a paid premium due to cancellation, rate reduction, or similar reasons.
The chance of loss to the insured that’s related to the insurance policy.
Clothing and accessories specifically designed to minimize bodily injury when in a motorcycle accident. Examples include motorcycle helmets, protective eyewear, riding boots, riding gloves, and leathers.
Damaged property that an insurance company can be recondition or sell for materials or parts after payment of a claim has been made.
The specific amount of damages the insured is liable to cover before umbrellas insurance is activated to cover a loss.
A term used when the insurance company takes over the insured’s right to collect damages from any other person responsible for the loss after the insurance company makes a payment to the insured.
An additional charge to a premium used to offset an increase of exposure that usually isn’t factored within normal rates.
The period of time wherein the insurance policy is issued and active.
The geographic location(s) used to determine insurance ratings.
Calculating a driver’s level based on the insured’s driving record and insurance coverage history.
A motorist that has less coverage than what is necessary to fully reimburse damages resulting from an accident or a motorist that has less liability coverage than required by state law.
Bodily injury whose costs (e.g. hospital bills) won’t be covered under the insured’s policy because of insufficient policy coverage.
Damage done to a vehicle that has less than sufficient coverage to partially or fully reimburse the cost of repairs or replacement.
A motorist that has no protection or coverage provided for damage and physical harm caused by an accident involving a motorcycle.
Bodily injury whose costs (e.g. hospital bills) won’t be covered due to the at-fault party’s lack of insurance.
Investigating whether a risk meets company guidelines within a policy.
A policy that has been canceled and cannot be reinstated.
A possible provision in an insurance policy that allows the policyholder to take action against the car insurance company in civil court without requiring the usual mandatory arbitration in the event of a dispute.
Written assurance of a product’s reliability and the manufacturer’s accountability to replace or repair defective parts.
A signed statement by the insured that claims no losses, no accidents, and no damage was done to the insured vehicle during the duration of the vehicle’s insurance policy.
The amount of premium charged for a policy that has already become effective.