Wheels Of Grace Magazine

Volume 8, Issue 4

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WheelsOfGrace.com Aug/Sept 2016 37 CONCLUSION GAP INSURANCE BUNDLE YOUR INSURANCE POLICIES is not true. Most insurers will add gap insurance to your comprehensive and collision coverage, so you'll usually have to buy that as well. Typically, a stand-alone gap policy sold by a motorcycle dealer will be at a higher cost than from your insurance carrier. CONCLUSION The more types of motorcycle insurance that you purchase and the larger amounts you set for each, the more you will have to pay. However, at the same me, you will be more protected if you are involved in a motorcycle accident resul ng in serious injuries either to yourself and/or to others. Please immediately check your motorcycle insurance policies to ensure you have adequate insurance coverage. Susan Handel will be happy to answer any ques ons you may have regarding your insurance and can help you determine all of your insurance coverages. Susan Handel is a lawyer who specializes in personal injury law, with an emphasis on motorcycle accidents resul ng in catastrophic injuries and fatali es. For more informa on visit her on the web at www.handellaw.com or call Toll Free Na onwide 800.564.1164. An increased deduc ble usually results in lower insurance premiums. An increase in your deduc ble will cause you li le inconvenience rela ve to the poten al disaster caused by under-coverage in regards to the previously men oned types of insurance. In fact, raising your deduc ble with this coverage could have a long term benefit: when you cover the deduc ble on minor repairs, a li le scratch or dent shouldn't go on your claims history. If these minor repairs had gone on your claims history, you would likely see an increase in your renewal premiums on all coverages. BUNDLE YOUR INSURANCE POLICIES See if your insurance carrier offers a discount for placing your motorcycle insurance, any automobile insurance, umbrella policies and your homeowner's or renter's insurance with them. O en, you can get a significant discount if you place all insurance needs with the same carrier. GAP INSURANCE If a loss occurs, gap motorcycle insurance will pay the difference between the actual cash value (ACV) of your motorcycle and the current outstanding balance on your loan or lease. When the amount of your ACV payout is less than what you s ll owe on your lease or loan, the loss from this financial shor all is the "gap" you can be le owing. Motorcycle owners o en assume when their motorcycle is totaled, it will be replaced at the amount they paid, or at least the amount they owe. Think again, because this

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