Nothing compares to the feeling of being on the open road on your motorcycle. The fresh air whipping into your face, the warm sun overhead, and endless empty countryside all around you. There is honestly nothing quite like it.
Before you seek the rush of cruising down the highway on your bike, there is one necessary detail that must be attended to – motorcycle insurance. Motorcycle insurance is mandatory in many states, and if you happen to live in state where it is considered optional, it is still very unwise to go without it.
So what does the motorcycle owner need to know about motorcycle insurance?
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Basics Of Motorcycle Insurance
Motorcycle insurance operates in a similar fashion to automobile insurance. If you are familiar with auto insurance, then the concepts of motorcycle insurance should be recognizable to you. For the uninitiated, and for those who need an automobile insurance refresher, let’s examine the basics of motorcycle insurance.
Liability Insurance
This insurance covers property damage and bodily injury you caused (if you are at-fault) in an accident. This will not pay for damages to your motorcycle or any injuries you sustained. Some states have a minimum amount of liability that is required; in other states it is optional.
Collision Coverage
This covers the cost of your motorcycle if it is damaged in an accident. Like automobile insurance, insurance companies will only pay for the actual cash value of the motorcycle at the time the crash occurred.
This type of coverage may not work for you if the bike you are operating isn’t worth much money. However, if you are cruising around in a brand new (expensive) Harley, collision coverage is probably a good idea.
Comprehensive Coverage
Also known as “other than collision” this coverage pays for damages to your motorcycle caused by events other than an accident. Examples include: theft, fire, flood damage, and vandalism. Like comprehensive coverage, you need to determine if purchasing this optional coverage makes sense to you based on the value of your bike.
Uninsured/Underinsured Motorist Coverage
This coverage pays for the medical bills that result from any injuries you might suffer because of a collision with an uninsured or underinsured motorist. This type of coverage will pay for medical bills, lost wages, and any pain or suffering. Uninsured/Underinsured insurance will also cover your bills in the event of a hit-and-run.
This insurance is an extremely good idea considering the number of motorists who don’t have adequate liability insurance, or who don’t carry insurance at all. You want to make sure that your medical bills are provided for, and the prospect of going to court and suing the at-fault motorist could be a long, nightmarish process. It is best to buy this coverage now then risk being struck by a uninsured/underinsured motorist and dealing with the consequences then.
Other Coverages For Motorcycles
There are other coverages that are designed specifically for motorcycle operators. Motorcycle owners have the option of purchasing additional liability insurance for passengers that may be on the bike. Also, insurance companies offer coverages for upgrades and specialty features (such as sidecars) that have been made or accompany the motorcycle. When looking into motorcycle insurance, see if any of these additional coverages make sense for you.
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Minimize Risks
All motorcycle operators want lower insurance premiums. One way of achieving that is to minimize the amount of risks you are exposed to when operating your bike. By reducing risks, you will lessen the chance of having to submit a claim (thus keeping your rates low), and could avoid some nasty injuries.
Always Wear Safety Equipment
Many states require that a motorcycle operator wear a helmet. The reasoning behind these laws is that helmets are able to greatly reduce the chance of severe injury or death. Not convinced? Let’s look at some facts:
According to the National Highway Traffic Safety Administration (NHTSA), 114,000 motorcyclists were involved in crashes in 2008. Of those, 5,290 died as a result of their injuries. Helmets are directly credited for saving 1,829 lives. An additional 823 people could have been saved if they were wearing helmets. Those numbers should not be taken lightly. The NHTSA reports that motorcycle operators are 37 times more likely to be injured in a crash than a person driving a car. This is why it is must that you wear safety equipment and protective clothing while riding on your bike. In addition to helmets, motorcyclists should wear sturdy, abrasion resistant jackets, gloves, googles, and possibly riding suits. This equipment can and does save lives, and will definitely reduce the amount of your claim should you have to file one.
Discounts Available
Motorcycle insurance companies offer incentives to lure bike owners to purchase coverage from them. Check out these discounts that are offered, and save on your motorcycle insurance rates:
•Insure more than one motorcycle with an insurance company.
•Insure your car and motorcycle with the same insurance company.
•Mature Rider Discounts for bike owners over a certain age
•Take a motorcycle safety course. The Motorcycle Safety Foundation offers a course called “Riders Course.” Visit their website at www.msf-usa.org for more information.
Each of these discounts could save you between 5% and 20%, depending on the discount and the insurance company that is offering it. Besides discounts, you can also reduce your rates and/or keep them low by obeying all traffic laws and employing basic defensive driving techniques.
Get A Cheap Online Quote
Getting an online motorcycle insurance quote is a great way to save on your insurance premiums. You can compare multiple rates, and find the cheapest one available for your motorcycle. Most major companies that offer automobile insurance (such as State Farm, All State, Geico) also offer motorcycle insurance. Get multiple online insurance quotes here at Cheap Quotes Car Insurance and start saving today!