Just like cars, motorcycles riders need to have insurance. This is the best investment you could possibly have to provide protection for yourself, other riders and people in other vehicles if you are at fault.
While motorcycle insurance is typically less than auto insurance, you will likely need to have more than the state minimum for protection. Unfortunately, the National Highway Transportation Safety Administration (NHTSA) statistics are pretty dire regarding motorcycle accidents. The most recent data in 2014 shows that motorcycle riders have fatal crashes 27 times more frequently than automobiles.
Insurance requirements for motorcycles
In most states, motorcyclists are only required to purchase liability insurance. This is the most basic insurance you can carry, and it covers other motorists injuries if you are at fault. Some states are different. For instance, in the state of Florida, you are required to carry a minimum $10,000 in medical benefits.
Again, buying more than the state liability minimum can help you cases where you caused and accident and are responsible for property damage and medical bills.
There are four types of motorcycle insurance options:
Collision – Pays for damage minus your deductible.
Comprehensive – This pays if your motorcycle is stolen or if it is damaged by something else other than a collision
Med Pay – It pays for the medical bills of you and your passenger. This type of insurance isn’t available in all states.
Personal injury protection –
Some insurers offer discounts depending on the state:
You can get price breaks if you bundle things like homeowners insurance
• Keep a clean driving record
• Insuring more than one vehicle
• Successfully complete a motorcycle training course.
• Have a motorcycle club membership
• Get a rider discount if you are over the age of 55
If you need bike insurance, be sure to shop around for the best rates. Not all insurance is alike. You may be able to find cheaper pricing and better perks depending on the insurer.