Motorcycle Rider Disability Insurance
Don't Ride Without It!
by Steve Crawford

You can’t get on a bike without hearing the phrase, “There are two types of motorcycle riders; those that have gone down, and those that are about to.” All of us that choose to ride motorcycles, whether it’s a Yamaha R1 or a Harley Davidson, hope and pray that if or when we do lay it down the accident is not serious. We do know that riding motorcycles is a lot of fun, and if it wasn’t for all the dangerous cars on the road there would be no need for this article. However, the risk of becoming disabled because of a motorcycle accident is very real.

Individual disability insurance is an insurance product designed to replace somewhere between 50-65% of your income on a tax-free* basis should you ever become unable to perform the material and substantial duties of your regular occupation. Should you get injured because of a motorcycle accident, and find yourself unable to work for an extended period of time, an individual disability insurance policy could help to maintain your current lifestyle until you are able to return to work.

Disability insurance companies will place hazardous avocation exclusions on policies for people that engage in dangerous hobbies like rock climbing, skydiving, or motor vehicle racing. If you race your motorcycle on a race track you will be hard pressed to find a disability insurance policy that will cover you on a bike should you get into an accident. If you just ride a motorcycle for the pure enjoyment of the open road, and don’t get on a track, you need to own a personal disability insurance policy to protect your income in the event you do become disabled because of an accident.

As a rider, make sure you answer all questions truthfully on the application when you apply for a policy. There is a section on every disability insurance application for hazardous avocations. Make sure to disclose that you do ride a motorcycle, and make absolutely certain to make it clear whether or not you do or do not race on a track. They will exclude coverage in most cases for people who engage in racing.

We all take a certain amount of risk every time we get on a bike. Our judgment and experience is what we rely on to keep us safe. You owe it to yourself, and to those you love to protect your continued ability to bring home a paycheck by purchasing an individual disability insurance policy.

*If premiums are paid by an individual.

This publication is offered for the purposes of education and information only and should not be considered tax or legal advice. For information on your specific situation, please consult your legal or tax advisor.