Motorcycle Insurance
In principal, motorcycle insurance is no different to automobile insurance, but there are several key differences, because riding a powered bike is considered more risky than driving a car or truck. Indeed, in a few states, notably Massachusetts, New Jersey, Hawaii, North Carolina, and Washington DC, it can be very difficult to insure a motorcycle, especially if it is high-powered, and the rider is inexperienced. In this case, your best bet is to try an insurance company with which you have other insurance policies. Expect to pay as much as $180 per month if you are young, an inexperienced rider, and insuring a high-powered bike. Older, experienced riders will probably pay 40-75% less, depending upon equipment.
It is recommended that riders purchase collision coverage, which not only covers collision with another vehicle, but damage resulting from a spill. Deductibles vary from $250 to $1,000--the higher the deductible, the lower the insurance premium.
Another insurance option common to motorcycles is accessory coverage, also known as custom parts and equipment (CPE). This feature covers items that have been installed since manufacture, such as fairings, windshields, luggage racks, safety guards, customized seats, chromed bars or exhaust pipes, and electronic equipment. Depending on the insurance company, accessory coverage can be limited to 50% of the bike’s total value, or can be purchased for specific dollar amounts. Sometimes $1,000 of accessory insurance is standard with comprehensive or collision insurance.
In principal, motorcycle insurance is no different to automobile insurance, but there are several key differences, because riding a powered bike is considered more risky than driving a car or truck. Indeed, in a few states, notably Massachusetts, New Jersey, Hawaii, North Carolina, and Washington DC, it can be very difficult to insure a motorcycle, especially if it is high-powered, and the rider is inexperienced. In this case, your best bet is to try an insurance company with which you have other insurance policies. Expect to pay as much as $180 per month if you are young, an inexperienced rider, and insuring a high-powered bike. Older, experienced riders will probably pay 40-75% less, depending upon equipment.
It is recommended that riders purchase collision coverage, which not only covers collision with another vehicle, but damage resulting from a spill. Deductibles vary from $250 to $1,000--the higher the deductible, the lower the insurance premium.
Another insurance option common to motorcycles is accessory coverage, also known as custom parts and equipment (CPE). This feature covers items that have been installed since manufacture, such as fairings, windshields, luggage racks, safety guards, customized seats, chromed bars or exhaust pipes, and electronic equipment. Depending on the insurance company, accessory coverage can be limited to 50% of the bike’s total value, or can be purchased for specific dollar amounts. Sometimes $1,000 of accessory insurance is standard with comprehensive or collision insurance.
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