Motorcycle riders understand the feeling of being one with their bike. Rides can be exhilarating, but it’s also important to carry motorcycle insurance. Not only because it’s legally required in most states, but also because it may be a financial safety net in case of a costly accident.
Whether you like to ride your cruiser on the highway or commute on your sports bike, understanding your options can help you build an affordable motorcycle insurance policy that works for you.
Ready to start building your policy? While Infinity Insurance Agency, Inc. (IIA) doesn’t offer motorcycle insurance, we work with Progressive to offer budget-friendly motorcycle insurance. Follow their link to learn more.
Read on to find out:
- What coverages are available for motorcycle riders
- What affects the cost of motorcycle insurance
- Ways you can save on your policy
Why motorcycle insurance matters
While cruising on your motorcycle can be fun, it also comes with certain risks. Motorcycle riders are excessively represented in serious traffic accidents compared to car drivers, according to the National Highway Traffic Safety Administration. Therefore, following motorcycle safety tips and having motorcycle insurance is an important step before going on the road.
Depending on your policy, motorcycle insurance may help cover costs arising from injuries, property damage, and theft. Infinity Insurance Agency, Inc. (IIA) is collaborating with Progressive to offer customizable coverage and flexible payment options to suit your needs and riding habits.
What insurance for motorcycles is required by law?
Most states require liability insurance, which helps cover the costs of injuries or property damage you cause another person in a covered accident. It includes:
- Bodily injury liability
- Property damage liability
Each state sets its minimum liability requirements. In California, for instance, motorcycle drivers have the same insurance requirements as car drivers. The State of California DMV lists the minimum required limits as:
- $30,000 for injury or death to another person
- $60,000 for injury or death to more than one person
- $15,000 for property damage to another person
Not carrying the minimum required motorcycle insurance in your state could lead to fines or license suspension. Plus, if you were involved in an accident, you might have to pay for costly bills out of pocket.
Optional motorcycle insurance coverage
As a motorcycle owner, you can build a policy that goes beyond the minimum requirements so that you may be covered if different accidents or events arise. Let’s look into the coverages motorcycle riders can opt for:
- Collision coverage: It helps pay for your bike repairs or replacement if you’re involved in a covered traffic accident, regardless of who is at fault. For example, if you swerve and hit a curb, damaging your bike, this coverage may help pay for repairs.
- Comprehensive coverage: It helps pay for bike repairs or replacement needed after covered events that are not traffic accidents. Examples include:
- Your bike gets stolen or vandalized
- A fire damages your bike
- A tree branch falls on your bike
If you financed or leased your motorcycle, comprehensive and collision coverages may be required by the bank, lender, or leasing company.
- Uninsured/Underinsured Motorist Coverage: This coverage helps pay for medical bills arising from a covered accident with an at-fault driver who isn’t insured or doesn’t have enough insurance.
- This coverage is required in some states. In others, such as Florida, California, and Texas, it’s an optional coverage.
- Medical Payments or Personal Injury Protection (PIP): Medical payments coverage or MedPay, is another optional coverage that can help pay for your or your passenger’s medical costs after a covered accident, regardless of who is at fault. Personal injury protection, or PIP insurance, may cover medical costs and also lost wages, rehabilitation costs, and some essential services used after a covered accident. PIP is not available in all states. Ask your trusted insurance agent what the options are in your state.
- Accessory coverage: This coverage may help pay for accessories like helmets or extras you’ve added to your bike, such as saddlebags, handlebars, electronics, etc. You typically need collision and comprehensive coverages to add accessory coverage to your policy. It doesn’t cover replacements needed due to general wear and tear.
Motorcycle insurance cost
How much your policy is depends on several factors, including:
- Your age and riding experience: Experienced riders with a clean motorcycle driving history will often pay less than inexperienced drivers or younger riders who are just starting out.
- Type of motorcycle: Riders who own a cruiser or standard bike generally pay less than those opting for a sports bike, since sports motorcycles come with a higher risk.
- Where you live: Motorcycle insurance is often more expensive in areas with more traffic and higher accident rates. If your area has high theft rates, this could also affect the price of comprehensive coverage.
- Coverage limits and deductibles: Policies with higher limits than what’s required may cost more, but also would help pay for more costs in the case of a covered accident. Additionally, opting for a higher deductible helps reduce your premiums. Just make sure you can pay for this expense out of pocket, since your policy kicks in after you pay the deductible.
Tips for saving on motorcycle insurance
Here are some ways motorcycle owners can save on insurance:
- Bundling multiple motorcycles or bundling with other insurance policies through the same carrier
- Completing a certified motorcycle rider safety course
- Paying for their policy in full up front
- Store your bike securely or install anti-theft devices
Get a motorcycle insurance quote today
IIA works with Progressive to offer customizable and affordable coverage for your motorcycle. They also have flexible payment options for every kind of rider. Get a free motorcycle insurance quote online today!