Although it’s the most amazing fun thing to do, it comes with tons of liability and sometimes death. Riding a motorcycle is just as risky as driving a car. When asking yourself is it worth the risk, you also have to consider the pros and cons of owning and riding a motorcycle. The average liability that motorcycle owners have varies depending on the state you currently reside. In this case, Oklahoma requires the minimum liability of 25/50/25. So before purchasing a motorcycle and let the adrenaline rush take over from there, let’s cover topics on liability and the precautions you should take when riding a motorcycle.
Processing Motorcycle Accidents
It’s an inevitable event that will likely happen. On average, motorcycle accident settlements are about $200,000. However, this can depend on the accident overall. If you become involved in a motorcycle accident, here are a few tips to keep in mind.
- File the accident with your insurance provider
- Decide on claiming property damage or personal injuries from your accident
- Provide evidence with photos taken at the scene of the accident, video surveillance, medical bills, and records or police reports.
In the end, depending on how bad the accident turns out will determine how long it will take to settle your claim. Another indication that you’ve received a good settlement for your motorcycle accident would be the number of funds that are covered such as past and upcoming medical bills, work compensation, diminished earnings from disabilities related to your accident, and even emotional discomfort.
There will come a time where you will be liable for your own accident. However, that’s mostly the case with motorcycle accidents. Typically the insurance company will settle if you were the one at fault. This is known as contributory negligence. Along this with this can also include claims involving property damage. Two questions you can also ask yourself when deciding on whether or not you should settle are:
- “What are my chances of prevailing at the trial?”
- “How much could the jury award me in damages?”
Aside from the downside to settling on your claim, there can be a few advantages to your motorcycle accident settlement. One perk is that you can take the time and use the convenience that you have throughout a settlement being offered. This can allow you to think about a plan that can work out for both the insurance company and plaintiff. Another advantage you can look forward to is the compensation you’re guaranteed. It could go both ways in the end, but once both parties can comply then money from your settlement will be guaranteed.