The question is how/whether you obtain travel insurance for the entirety of the trip to begin with. If you have travel insurance that will cover a trip of this magnitude AND expressly allow riding a large motorcycle (a frequent small-print exclusion), then the contents of your panniers will be covered in the same way as the contents of your suitcase/backpack would be in a normal trip.
If you mean damage to the pannier itself - well, that's again a question of full vehicle insurance (not just third-party liability/traffic insurance). If you have it, then your panniers should be covered.
That said, you may find that between the cost of such an insurance policy, the deductibles, and the headaches of filing a claim and having it recognized, it may be much better for your mental health to only take along things that you would not be massively sad to lose, or have too much trouble replacing on the road. The panniers themselves are probably what, half a grand? You'll be taking as much again in nice-ish camping equipment, a cheap laptop or tablet, a medium-nice camera? In the grand scheme of the budget of such a trip, it's not worth losing sleep over, not at this stage in your planning.
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