For many baby boomers, an introduction to Harley Davidson culture came in the late 1960s, with TV shows like Then Came Bronson. Ever since then, motorcycle movies and television shows have been inspiring millions of riders across the country and around the world to take to the open road on two wheels.
Riders share a common bond that crosses ages, income and experience—a sheer love of motorcycles and riding. Whether you’re a lontime rider or a first timer, this site is dedicated to connecting you to the resources and information you need to get the best motorcycle insurance at the right price.
Who Needs Motorcycle Insurance?
There are two very good reasons for all riders to maintain motorcycle coverage. First, it is required by law in all 50 states (although minimum coverage amounts vary). Failing to meet the minimum motorcycle insurance requirements in your state can result in fines, loss of your motorcycle and automobile driver’s license, and even jail time.
Second, motorcycle insurance is in your best financial interest. Maintaining a specific coverage policy for your motorcycle protects you from having to cover damages out-of-pocket if you injure someone. That includes passengers and non-passengers. The cost for basic coverage can be as little as $30-$40 a month and total damages can run up into the tens of thousands. No matter who you are, motorcycle coverage is worth the expense.
What Types of Policies Can I Choose From?
In addition to basic bodily injury and liability coverage, there are additional coverage options to more fully protect you, your bike and others. Comprehensive coverage covers things like theft, vandalism, and other damages. Of course, as with any “comprehensive policy”, there are exclusions. Be sure to carefully review the terms carefully before selecting the policy that meets your needs.
Collision insurance for motorcycles will cover the cost of repairs to your motorcycle that happen as a result of collisions with other vehicles or stationary objects.
Accessory coverage is also known as Custom Parts and Equipment (CPE) coverage and protects things like:
- Electronic equipment, including audio and antennas
- Custom paint and chrome
- Motorcycle trailers (pulled behind your bike) and sidecars
- Safety equipment like helmets and leather
Property damage liability covers you for damage to other people’s property caused by your motorcycle.
Personal injury protection provides coverage for injuries you or your passengers sustain in an accident, regardless of who caused that accident. These plans can also be supplemented with medical payments insurance which help cover additional costs like the deductibles and copayments which are not covered by your bodily or personal injury policy.
How Much Motorcycle Coverage is Enough?
Once you’ve met your state’s required minimums, the amount of motorcycle insurance you need really depends on you and your bike. Either way, keep in mind that you’ll probably need additional coverage. Minimum state requirements are usually small; and if an accident occurs you will be responsible for all damages in excess of your coverage.
The same holds true when it comes to optional types of coverage: it’s also a matter of what you are willing and able to pay out of pocket in the event of an accident, damage or theft. Throughout this site, you will find more helpful advice about how to determine your specific needs.
What Coverage Gaps Should I Look For?
Experienced riders know that the drivers of cars and trucks don’t always see or pay attention to motorcycles on the road. Unfortunately, when a car or truck is involved in an accident with a motorcycle the resulting damage is usually very expensive. Protecting yourself from other drivers is a big part of motorcycle safety. If you’re eager to gain financial protection against insufficiently or uninsured drivers, you might want to consider adding underinsured motorist coverage to your current policy.
Underinsured motorist insurance will fill in the gap between the amount of the other driver’s insurance coverage and the actual cost to repair your bike and you. These policies cover things like hospital bills, doctor’s visits, therapy and lost wages after an accident. It also covers the cost to repair or replace your motorcycle when these costs are not covered by the other driver’s insurance.
How Can I Lower My Rates?
Insurance companies calculate motorcycle insurance rates using the same techniques as they do to determine auto insurance rates. Basically, insurers use statistics to estimate the likelihood that you will have to file a claim. Among the factors that they consider are:
- A valid motorcycle license
- Where you live
- Driving record
As with auto insurance, this means younger, less experienced riders will generally pay higher premiums than seasoned riders.
Motorcycle insurance rates can be lowered in a couple of ways. The first is by taking a motorcycle safety course. Safety courses are not just for beginning riders who are taught the basics safe riding habits like braking and stopping and street strategies.
Riding courses can provide more technical and expert development for seasoned riders, as well. Expert rider safety classes focus on more advanced techniques such as cornering and negotiating multiple curves in succession. (Many of these courses maintain experience requirements before a rider can enroll.)
Another way to lower rates is to bundle your motorcycle insurance coverage with another policy (like your home, car or renter’s insurance) from the same provider. Insurance companies reward brand loyalty with across the board rate discounts.
What About Specialty Insurers?
Some insurance companies and brokers are motorcycle specialists which means they are more familiar with the particular needs of motorcycle owners and riders. A specialty broker or insurer may be able to provide more insight into how to best meet your motorcycle insurance needs.
Specialty insurers can also be a good source of information about insurance for a custom motorcycle. Custom motorcycles, such as custom built-to-order and stock bikes, can benefit from their valuation expertise and specialty custom motorcycle insurance options.
Thanks for dropping by our site! At MotorcycleInsurance.org, we are dedicated to connecting all riders, both longtime riders and first-time enthusiasts to the insurance information you need. We hope you’ll take some time to explore the site to learn more about how to get the best deals on motorcycle insurance.