Motorcycle Insurance

By Compuquotes Team on April 2nd, 2008

Auto Insurance

The number of motorcycle riders in America is on the rise. Many individuals are looking to pay less at the pump and still get to where they need to be. Motorcycles are a viable alternative for a good part of the year in most states. Along with the number of riders increasing, the number of motorcycles accidents has been rising steadily, too. In 2006 there were 4,810 motorcycle accident fatalities according to the National Highway Traffic Safety Administration (NHTSA). This number marks the highest since 1981. Motorcycle accidents have increased every year for the past nine years.

As a condition of legally riding a motorcycle in most states, bikers must carry a minimum amount of insurance. This liability insurance helps cover any accidents or damage caused by the rider. It protects the people around you from paying for your negligence. You may want to see if guest riders are covered under your liability insurance. There are many other types of coverage, besides just liability, that will help protect you and your investment. It is important to note that a great majority of motorcycle accidents, three out of every four, involve another vehicle of some sort. In most of these, the driver of the other vehicle has violated the biker's right-of-way and caused a collision. The other driver's liability insurance may help cover some of the costs, but there are other insurance products available that will help the rider further.

The next step, once you have liability insurance, is to decide of you want collision insurance. This insurance will pay for repairs to your bike if you are in a collision. There is typically a deductible and the insurance company may pay you book value for the bike if it is a total loss. Comprehensive is the next typical package and covers damage to your motorcycle in accidents that do not occur on the roads. Theft, vandalism, and fire are a few of the situations covered. As above, there may be a deductible involved. There can even be an addendum to the policy that insures you against loss from uninsured drivers. It is important to realize that these products will vary from state to state and insurance company to insurance company. Please be sure to check your policy for exact coverages.

Sometimes motorcycle insurance policies are sold as riders to automobile or other types of insurance, or as stand-alone policies. There are many things to consider and look for when you are shopping for insurance. Costs are going to vary, depending on the area of the country and even the area of the state that you live in. In northern states an insurance company may have what is known as a 'lay-up' policy where you only pay premiums during months that are hospitable to riding. Be aware that you will not be covered during most winter months. You might also want to check to see if the policy covers your safety gear. Helmets, gloves, coats and boots can all be completely destroyed in an accident, which is what is supposed to happen so you are not destroyed. Will your insurance company help pay for their replacement? In the case of a complete loss of the bike, does you insurance policy pay replacement costs, the amount owed or book value? There can be large difference between all of these prices.

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