The best motorcycle insurance for you is the policy that fulfills your state’s minimum requirements, as well as providing the amount of coverage you need for yourself and your budget. As far as the state-required minimum liability insurance, it’s the same for motorcycles as it is for cars. Just like with car insurance, you should shop around and compare quotes from different companies to find out how much you will be charged.
If you’re planning to buy your first motorcycle or you’ve owned bikes for years, we’ve got answers on how to find the best motorcycle insurance. Here’s some of the most important information you’ll need to make an informed decision.
How Much Does Motorcycle Insurance Cost?
It can be as low as $7 per month for the minimum state-required liability only and as high as $100 per month or more for full coverage, including comprehensive motorcycle insurance, motorcycle collision insurance, and uninsured motorist coverage. It mainly depends on how much coverage you want to buy.
Your insurance cost will depend on many factors, most importantly your driving history, your age and the type of bike you own. Because motorcycles don’t tend to cause the same amount of property damage as cars, the insurance premium should reflect a lower cost – at least for that part of the liability. On the other hand, riders without helmets who get into a wreck tend to rack up the hospital and disability costs, which affects everyone’s rates collectively.
People who live in states with shorter riding seasons pay less than those who live in places where riding a motorcycle is a year-round event.
How Can I Lower My Motorcycle Insurance?
Driving defensively and having a clean driving record is going to play a large factor in finding lower motorcycle insurance rates. There are also discounts available, just as there are for cars. Some discounts include:
- Bundling (more than one item insured by the same company)
- Loyalty (staying with one company for a number of years)
- Defensive Driving (or rider safety courses)
- Mature, experienced riders
- Administrative (paperless and auto billing)
Is Motorcycle Insurance Less Expensive Than Car Insurance?
In most circumstances, yes. Although motorcyclists still have to purchase the state-required minimum liability, the overall coverage is less. Motorcycles generally cost less to repair, but if you buy a really expensive, loaded bike, your insurance will reflect that.
As with car insurance, if you are a young and inexperienced rider, you are still going to being paying a premium rate for your premium – motorcycle or car!
Is Motorcycle Insurance Required Everywhere in the United States?
Every state that requires car insurance requires the same level of insurance for motorcycles. As with varying laws for cars and trucks, motorcycles carry specific laws related to helmet wearing, eye protection, age of passengers, headlight usage, noise, and even lane splitting (driving between cars, only specifically legal in California).
Your motorcycle liability insurance will look just like car insurance – a series of numbers separated by slashes, for example, 25/50/25. In this example, the state requires coverage amounts of $25,000 per person per accident/$50,000 for two or more people in one accident/$25,000 in property damage.
What Other Factors Make Up the Best Motorcycle Insurance?
A full-coverage motorcycle insurance policy includes several coverage options worth investigating. Here are some of coverages you can consider when insuring your bike. Remember, if you are financing your ride, you’ll most likely be required by your lender to have full coverage.
This covers damages to your own motorcycle resulting from an accident with a vehicle, up to the amount of your policy after you’ve paid your deductible. While it costs more than liability coverage, it’s not much more expensive, and you’ll find it to be well worth the additional cost if your motorcycle ever sustains hundreds or even thousands of dollars in damages from an accident.
It’s not just road collisions that you have to be concerned about. Catastrophic damage from floods, high winds, and fire can quickly put your ride out of commission. Theft or vandalism can also cause significant damage. Your motorcycle gets protection from all of that and more when you carry a policy with comprehensive coverage.
Imagine finding yourself stranded on the side of a road with a crippled bike. Or an empty gas tank. Or a flat tire. Whatever the reason, you’ll only need to place a call for 24/7 roadside assistance if you choose this optional insurance.
Uninsured/Underinsured Motorist Coverage
What happens if the other driver is at fault but has no insurance or doesn’t have enough insurance to cover the total damages to your bike? That’s where this add-on policy coverage kicks in. You’re covered even if the driver at fault isn’t.
Contact Freeway Insurance to Learn More about Your Motorcycle Insurance Options
Other factors beyond coverage levels and types of coverage also determine what you’ll pay for the best motorcycle insurance for you. Your trusted independent insurance agent at Freeway Insurance will find out more about your coverage needs and go shopping for the most affordable coverage from multiple carriers.