Saturday, June 23, 2018

How Does Motorcycle Insurance Work and What is its Value?



In case of a motorcycle accident, two things are taken into consideration: the liability and the damages. These two aspects are worth the most when claiming motorcycle insurance. 

Liability


Liability means determining who was at fault during the accident. Now, the person who would be making the claim has to prove that the other driver was at fault or was negligent because of which he suffered the accident. 

If he cannot prove so, or if in reality, the other driver was really not negligent, then it means he does not owe the plaintiff anything and the case would not yield much.

Damages means, what injuries and other losses the plaintiff suffered due to the accident and the greater the injury, the higher the amount of compensable injury damages.

Taking liability and damages into account, certain situations can be evaluated for two wheeler insurance.

In case one is simply standing at the red light and is hit from behind by another vehicle, this is clearly a case of negligence on the part of the other driver. 


However, if the plaintiff did not get hurt or there was no damage to the motorcycle, then there would be no compensation. A nominal sum could be settled upon for the hassle the plaintiff went through but nothing more than that. 




The settlement amount would also be nominal one if in case, is spite of being in an accident which was quite damaging, the accident was not really the other driver’s fault. 


In fact, if it was the plaintiff’s fault, then the insurance company of the other driver is not obliged to pay him anything. Or, even if it was the other driver’s fault but the plaintiff is unable to prove it, the settled amount would be a negligible one.

This brings us to the next part of the discussion where we try to evaluate a motorcycle injury claim. There are two types of valuations: Settlement Value and Trial Value.

Also Read:- Third Party Bike Insurance Policy – a Quick Guide

Settlement Value


A is when one settles the case and this is done when one wants to avoid the risk of losing the trial and losing everything. 

In any kind of litigation, a middle ground is mostly reached through settlement predominantly when both parties have a strong ground and no one wants to lose. 

For obvious reasons, the settlement amount is much lower than what one would have managed to get if one had won the trial. 

On the other hand, the Trail Value is what one could expect if they are sure they would win the trial. 


So considering that one can prove the other driver’s fault and they also have reasonable damage to show, a trail amount could be quite lump sum. 

Special Damages


Damages in motorcycle accident cases are calculated on the basis of exact calculations- also known as special damages- they include employment benefits, medical bills and other financial losses that the plaintiff incurred as a result of the accident. 

Non- exact calculation- that is mostly considering the pain and trauma the plaintiff has grown through.

With all these aspects taken into account, one could say that motorcycle accident injury claims can be made successfully, provided one can prove it. 


After the accident, one also needs to act fast to gather evidence needed to prove the defendant’s fault and also submit relevant papers to prove that the motorcycle is theirs. There are many companies today that offer best two wheeler insurance.


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