What is Motorcycle Insurance
Motorcycle insurance just like automobiles or other types of transformational vehicles provides you financial protection in the event of an accident. It will include coverage for liability and property damage for the damage or injuries you cause to others.
It can also include physical damage coverage. Protecting your motorcycle for damage caused by an accident or other things like vandalism, falling objects, or being stolen.
What is the difference between motorcycle and auto insurance?
Even though motorcycle and automobile insurance policies are very similar there is one major difference that you need to understand.
This difference has to do with the injuries that you or your passenger may sustain in an accident.
When hurt in an automobile accident, you or your passengers are covered under the personal injury protection coverage otherwise known as NYS No-Fault Coverage.
Hopefully, on your auto insurance, you have the max amount of coverage and if you don’t then we highly recommend you make that change.
No-Fault or PIP coverage is not available on your motorcycle policy. For medical expenses to be paid you need to add the coverage medical payments.
This coverage might have limits ranging from $1,000-$10,000.
If you do not have any medical payments coverage or there is a bad accident, your health insurance will have to kick in for the difference.
How much does motorcycle insurance cost?
The cost of motorcycle insurance just like auto insurance can vary. The main two factors when determining motorcycle rates are.
- The type of motorcycle you have
- Your driving record
The difference between a Harley-Davidson verse a Yamaha Crotch rocket could range from a few hundred to a few thousand dollars a year in insurance premiums.
How can I lower my motorcycle insurance
Motorcycle insurance can be expensive. But if you are looking to get a bike, here are some great suggestions on how to keep your insurance more affordable.
- Buy an older bike that doesn’t have a high value
- Keep your driving record clean and accident-free
- Take a motorcycle safety course
- Look at bikes with lower cc limits (smaller engines)
And lastly, make sure you are using an independent insurance agent who can provide options for you.
If you do not know an independent insurance agent or you don’t know what they can do for you. Click the button below to learn more.