Motorcycle Insurance is Different From Car Insurance

If you drive or ride any kind of motorized vehicle on public roads, you must have insurance. Insurance on any type of vehicle is similar in that it covers you for liability if you should cause damage to someone else or their property, and it can cover you for any losses you suffer. But there are some important factors that are unique to motorcycle insurance.

Insurance is all about risk. Insurance companies carefully study the amount of risk in a given situation and the financial consequences those risks bring. Motorcycles are riskier than cars for several reasons. First, the risk of having an accident can be higher than if you were driving a car – depending on the car, of course. Motorcycles are difficult for other drivers to see, simply because they are smaller than cars. Also, adverse weather conditions like rain and ice often have a more severe impact on motorcycles than cars.  Second, when an accident does occur, the risk of injury to the riders is more severe.

As with any insurance, anything you can do to reduce the risks will reduce your premiums. What kind of bike do you ride? Insurance companies have discovered that certain models are more likely to be in accidents. If possible, call you agent and get quotes for insurance on a few different models before you buy a bike. What does your driving record look like? Drivers who have tickets or accidents in the last few years are much more likely to have a claim. Do whatever it takes to improve your driving record. Slow down. Always wear a helmet. Don’t ride when conditions are dangerous. Avoid risky behaviors like darting between traffic and doing wheelies. (Yes, I’ve seen that. On the road!) Not only will these measures improve your driving record, but they may keep you alive!

One of the costliest types of claims is for motorcycle passengers. Although you can’t get a policy that excludes your passengers for a lower premium, you should consider not carrying passengers. This will reduce any claims you do have, which will help your future premiums. It will also protect you from lawsuits in the event that your policy doesn’t completely cover the damages. If you do carry passengers, you should make sure there is adequate coverage for them and you in the event of an accident.

Motorcycle insurance policies often offer lay-up periods. Many motorcycle riders, especially in colder climates simply do not ride at all during the winter months. Insurance companies will suspend coverage during these periods in exchange for a lower premium. If there is any chance that you will ride your bike during this time (an unseasonably warm day, perhaps?), you should skip the lay-up period. If you do buy a policy with a lay-up period, do not ever ride your bike during that time. You will have no coverage at all.

Many motorcycle enthusiasts customize their bikes. If you carry collision and comprehensive, it won’t automatically cover the additions you’ve made. You can make sure that they’re covered by listing them on your application. It will cost a little more, but in the event of an accident, you will be able to repair or replace your bike, not just the base model.

Because motorcycles are not cars, you shouldn’t just call your car insurance company and have them add your bike to your policy. Different insurance companies offer very different options and pricing on motorcycle insurance. You’ll want to get online motorcycle insurance quotes from a few insurance companies. If you and your family members drive cars as well as motorcycles, you’ll want to have your whole policy with one insurer. When you get quotes, get them for the whole package and all the vehicles. Only then can you find the right package for your needs.