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Motorcycle Insurance – Ride the Streets with Peace of Mind

Mevish Jaffer

When it comes to the different types of policies offered by insurance companies in today’s market, motorcycle insurance ranks among the top coverage plans that individuals purchase each year. This is because motorcycles are one of the most dangerous types of vehicles ridden in the streets. Motorcycle riders are often unshielded and left exposed while on their bikes. Sometimes, they can also be less visible to other car drivers on the roads during periods of heavy traffic and congestion, which unfortunately makes them an easy target for accidents.

In addition to the peace of mind that motor insurance provides for bike riders while they continue to have one motorcycle riding adventure after the other, there are also other reasons and benefits for obtaining this type of insurance policy:

1. Meeting state requirements
Many states require individuals to have motor insurance in order to operate a two-wheel vehicle on the road. The purpose is to provide safety for both the individual as well as other people who may be on the road with that individual. Motorbike riders can find out if this type of insurance is required in the state in which they reside by contacting their local Department of Motor Vehicles for more information.

2. Protection against damage & theft
In exchange for a modest premium either every month or every year depending on different insurance companies, motorcycle owners can protect their vehicle against losses sustained from damage or theft. The advantage of purchasing motorcycle insurance in this case is having the rider’s interest in the bike secured. If the motorcycle ever gets involved in a “fender bender” and is damaged as a result, or if it gets stolen, the owner can rest-assured that the value of the vehicle will remain protected.

3. Accident protection
Obtaining motorcycle insurance is also very beneficial for bike riders in case they get into accidents involving other individuals. Being insured will protect their financial interest if legal action is necessary or if expenses for medical bills need to be covered for the other party involved in the accident. Consequently, motor insurance coverage serves to protect not only the bike rider, but others vehicle operators who may be involved as well.

Whether individuals choose to consult with insurance agents or company representatives, there are a few different factors that will affect the type of coverage received. They can include the following:

  • General information about the motorcycle that needs coverage. Similar to car insurance, brand new bikes will cost individuals more to insure.
  • Personal liabilities including the rider’s driving record and age will need to be assessed. Younger motorcycle riders tend to have higher rates, however in some cases, a better rate can be obtained if DMV motorcycle classes are taken.
  • The place of residence is another factor taken into consideration by insurance companies. Bike riders who live or work in high crime and accident areas often pay more due to the higher risk involved for insurance companies.
  • How much individuals ride their motorcycle can also be taken into account by insurance companies. The lower the mileage is on the bike, the lower an individual’s rates will be.

Obtaining the best insurance coverage does not necessarily mean that bike riders need to pay extra. In fact, there are many ways in which motorcycle owners can find affordable and even cheap motorcycle insurance. Obtaining the right motorcycle insurance quote is usually the first step to secure affordable coverage.

The more individuals shop around with different insurance companies, the greater their chances will be for locking in a better rate for coverage. Other ways for bike riders to find cheap motorcycle insurance include: 1) Asking existing insurance agents, such as those for their home or car if they carry motor insurance as well. 2) Consulting with neighbors, friends or co-workers to determine which insurance companies they go through for coverage. 3) Referring to various bike riders forums to get a well-rounded perspective about affordable plans which others may be taking advantage of. 4) Calling different insurance companies to get multiple quotes for the best deal.