Georgia law requires Braselton, GA motorcycle owners to buy motorcycle insurance. However, you can choose the deductible you set on collision or comprehensive coverage. Understanding how this works can help you set a limit that’s the best option for your financial situation.

What is a Deductible?

Your deductible is the amount you’re willing to pay out of pocket if you’re involved in a motorcycle accident. You can typically set a deductible from $0 to $2,000, with the most common options being $500 and $1,000. 

Before your insurer provides compensation, you’ll need to pay your deductible limit out of pocket. For instance, if you set a deductible of $500 and damage from an accident comes to $2,000, you’ll pay $500, and the insurer will pay the other $1,500. On the other hand, if your deductible is $1,000 and the damage comes to $900, you’ll pay the full bill out of pocket. Thus, you should avoid setting a deductible higher than you can afford. While motorcycle insurance costs less if you have a high deductible, the long-term cost of paying for expensive repairs may not be worth the temporary savings.

Expert Insurance Help from Bingham Insurance Group

It can be hard to know which deductible limit is right for you. Your motorcycle’s age, how often you ride it, and other factors will determine which deductible works best for your situation. Thankfully, you don’t have to figure it all out on your own. Bingham Insurance Group in Braselton, GA, has the experience and expertise you need to pick the right policy for your motorcycle. Call us at your convenience to find out more or to get a policy quote.