There is nothing like the feeling of riding a motorcycle and studies have shown motorcycles are appealing to a new group of enthusiasts. With motorcycles growing in popularity, some auto insurers are now offering motorcycle insurance, either as a separate policy or as an endorsement to a personal automobile policy.
If you are in the market for motorcycle insurance, you will find that most states require you to carry a minimum amount of liability coverage. Liability insurance covers bodily injury and property damage that you may cause to other people involved in an accident. It doesn’t cover you or your motorcycle. You need to buy first-party medical coverage if you want to be reimbursed for bodily injury expenses you incurred while on your motorcycle. Depending upon the policy, a motorcyclist can purchase coverage for medical bills he or she receives, ranging from $2,000 to $25,000.
Here’s a tip…find out if your liability coverage also includes Guest Passenger Liability, which provides financial protection if your passenger is injured while on your motorcycle.
Other coverages available to motorcycle owners are usually optional, such as collision (covering damage to your motorcycle), comprehensive (covering damage caused by events other than a collision, such as fire, theft or vandalism) and uninsured/underinsured motorist coverage (damages to you and your property caused by another driver who either doesn’t have insurance [uninsured] or doesn’t have adequate insurance [underinsured] to cover your damages). Always ask your insurance agent or company representative which insurance coverages are required in your state.
How much is motorcycle insurance?
Many factors play a role in determining what a motorcycle owner’s insurance costs will be, such as the individual’s age, driving record, where he or she lives and the type of motorcycle the policyholder owns.
Some additional criteria weighing on the eventual cost of a motorcycle insurance policy are:
- The model, style (sports bike vs. cruiser) and age of the motorcycle, as well as the number of annual miles and where you store your bike affect how much you will pay in motorcycle insurance premiums.
- Find out what discounts your insurance representative offers. Multi bike discounts for those insuring more than one bike, motorcycle association discounts and mature rider discounts for experienced riders offer additional cost-saving possibilities.
- Many companies offer discounts on motorcycle insurance for graduates of training courses, such as the Motorcycle Safety Foundation (MSF) rider course. Riders under the age of 25, usually considered at higher risk, and motorcyclists who have already had accidents stand to save the most if they complete this type of course.
- The installation or presence of antitheft devices can result in additional motorcycle insurance premium savings, too.
- In many northern states, seasonal motorcyclists may save money by buying a “lay-up” policy. With a lay-up policy, all coverage except comprehensive is suspended during winter months.
- Be sure to ask your insurance agent about motorcycle accessories coverage for items such as add-ons, customizations, aftermarket parts and any other additions that a motorcycle’s owner has affixed to their bike since its purchase.
Don’t forget your ATV!
Many motorcycle owners also own All-Terrain Vehicles (ATVs) and choose not to ensure their ATVs because most are not used on public roadways. However, ATVs pose many inherent dangers and risks. ATV policies are very similar to those involving motorcycles but cost substantially less. In fact, the average annual ATV policy is priced in the $200 range. A very small price to pay for peace-of-mind.
What Our Customers Say
“JD Prime has been handling all of our insurance needs for a few years now. Prior to Jim stepping in, we were kind of “winging it” when it came to what insurances we needed and for what values. Jim took the time to clearly help us understand what coverages we needed and more importantly why we needed them. Jim, and his team, are always there to answer all of our questions and they even service our investor’s rental portfolios. I would easily recommend Jim and his team to anyone needing insurance.”
“We started placing our insurance with Jim 2 years ago and we are so glad he found us. We have been so pleased with his service, friendliness, and guidance, more than anyone we’ve ever had.”
“About 12 or so years ago while minding my own business, Jim DelVecchio walked into my office. My original agent was no longer at that agency and Jim was assigned my account. Since I had been in the insurance business at one time, we were able to converse about insurance easily. When he left that agency, I followed him to other agencies and stayed with him when he formed his own insurance agency. I often question myself as to why??? The answer is simple……. He is unquestionably the most knowledgeable person in that field that I have ever met. Plus, he grows on you. If I have a problem, he is my go-to source. And I return the favor. All my insurance in now with JD Prime Insurance Agency.”