The Ideal Motorcycle Insurance in The United States

Within the last two years, there has been a reported spike in motorcycle rider fatalities in the United States. 2020 was a year that saw around 5,579 motorcycle-related deaths –which accounts for 14% of annual traffic fatalities. Of course, every motorcycle driver knows the risks when they get on a bike and how much more likely they are to get into an accident and encounter serious damages and injuries than they are in a car. As such, motorcycle insurance seems like more than just a legal requirement for liability reasons. But what makes the best and most affordable motorcycle insurance policy? This post serves as your tell-all guide.

Motorcycle Coverage Types

While this is the terminology for motorcycle insurance in the United States, its function and purchasing of it remain consistent globally. At the same time, shopping and finding the right motorcycle coverage is also a consistent international practice. Here are the major motorcycle insurance coverages and why they are important to have:

  • Liability insurance – Sometimes called third-party liability, liability coverage for any vehicle is usually required in any state or country with very few exceptions. Paying for damages and injuries you cause to other drivers is often a legal obligation. So, liability coverage includes damage you caused to another driver’s property (being their vehicle) and any injuries that you also caused. This is known as the at-fault rule in auto insurance.
  • Collision insurance – This is one of two coverages in addition to liability that makes up full coverage. Collision coverage is for damage to your own motorcycle in an accident that you caused. This coverage isn’t required by law, but when it comes to a motorcycle that is much more easily damaged than a car, it would be a great idea to carry it.
  • Comprehensive insurance – This is the second part of full coverage for a motorcycle. This accounts for damages caused to your motorcycle while you aren’t driving it or it is in storage. Damages can be due to fire, weather, or criminal causes. With a vehicle as secure as a motorcycle, this also seems like a more than necessary motorcycle insurance.
  • Personal injury protection – By now, you may have been wondering about injuries that you sustain during an at-fault accident –that is where personal injury protection comes in. Injuries and medical treatments following a motorcycle accident you caused are all included here.
  • Uninsured motorist coverage – While vehicle and motorcycle insurance is required in the majority of regions of the world, there are those who break the law and drive with little to no insurance at all. If there were to hit you, they might not be able to cover all the damages. Your uninsured motorist coverage will come to the rescue here and do it for them. This includes injuries and property damage.
  • Custom parts coverage – Some motorcycle owners have custom parts for jobs done on their bikes that often aren’t covered by standard motorcycle insurance. Custom parts coverage sort of acts as an umbrella policy for them as it insures any replacements and repairs.   

How Much Motorcycle Insurance Costs

Like car insurance, it’s difficult to narrow down the average cost of motorcycle insurance because it depends on so many personal factors to the point it’s nearly different for everyone. These factors, also looked at when it comes to car insurance, are:

  • Age – Younger drivers tend to pay more for insurance.
  • Riding record/experience – Those who are more skilled with fewer accident mark-ups pay less for insurance.
  • Bike type – More luxurious and high-speed bikes will fetch higher insurance rates.
  • Residence – Where you live and keep your bike will be considered when it comes to local crime rates and weather that can be hazardous to its safekeeping.
  • Claims history – Those who file insurance claims often pay more for insurance.
  • Credit score – Insurance is all about making your monthly payments on time, so your credit score will be factored into how much you pay. If you have a good score, you will pay less.
  • Deductible – The amount that you personally pay before your claim goes through is your deductible, and it is directly inverse to how much you pay for insurance monthly –the higher the deductible than the lower the insurance rate will be.

Best Motorcycle Insurance For You

Finding the best and most affordable motorcycle insurance is easy when you keep two important things in mind –knowing your motorcycle usage and lifestyle and comparing several quotes from insurance companies that sell such coverage. Every insurance company prices its policies differently, and quotes are usually free, so you should take advantage of that. Full coverage for motorcycles with reasonable rates is possible to find.