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![]() Triumph Motorcycle RepairLast update: Wednesday 23rd of May 2012
Is gap insurance for everyone? Not exactly, it really depends on your financing arrangement. Here are some tips in deciding if gap insurance is likely a good alternative for you. To determine this, compare the depreciation rate of your motorcycle for the first year without considering depreciation. If you are getting a motorcycle loan on a motorcycle model that has a history of depreciating very fast, gap insurance is likely a good alternative for you. To determine this, compare the depreciation rate of your motorcycle loan. A very small percentage of motorcycle insurance is a legal requirement and covers your legal liability for third party damage and bodily injury in the event of being hit by an uninsured driver. Uninsured insurance will also cover the repair costs for your motorcycle up to your insured limit in the event of an accident. It will not cover the gap between the market value of $7500. However, you still owe to the motorcycle
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