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How much does an average motorcycle accident cost?

If you happen to count yourself among Monmouth’s many motorcyclists, you no doubt enjoy the freedom your bike provides from the dull everyday monotony of a car. Unfortunately, along with that freedom comes the increased risk of injury or death you face should you ever be in a motorcycle accident. If you are involved in an accident, your first inclination may be to forgive and forget rather than worry about the hassle of pursuing compensation. Yet once you know what the average cost of a motorcycle accident is in America, you may think differently.

Depending upon the severity of your accident, you could easily find yourself facing much more than just repair costs. These extra costs can include:

  •          Medical expenses
  •          Lost wages
  •          Property damages

When you consider the cumulative effect of these costs coupled with the amount of time your recovery could take, you could potentially be facing hundreds of thousands of dollars in accident expenses. According to accident statistics gathered by the Government Accountability Office and shared on AutoBlog.com, a motorcycle accident victim can face expenses ranging from as little as $2,500 to as much as $1.4 million.

Your immediate thoughts might be that that’s why you carry motorcycle insurance. Sadly, many riders in your position who’ve been through motorcycle accidents have the same thoughts, yet they quickly find out that typical motorcycle insurance coverage isn’t as comprehensive as many think. Standard motorcycle policies will often only extend to general liability expenses. Extra coverage considerations will often require that you carry an extra insurance rider in your policy.

While this information is not meant to take the place of legal advice, it could prove useful when determining your insurance coverage needs or choosing whether or not to pursue compensation in the wake of an accident. 

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