FIND THE LOWEST RATE MOTORCYCLE INSURANCE

Motorcycle insurance provides financial protection in the event of a motorcycle accident, loss, theft or damage. Motorcycle insurance includes liability coverage in case you are responsible for another person’s injuries or property damage.

These policies provide coverage for motorcycles, choppers, fast street bikes or “crotch rockets,” mopeds, and even Segways.

A standard motorcycle insurance policy will cover some portion of the costs associated with damage to your bike.  It will also provide compensation in the event that you cause harm another person or their property or have legal fees to pay an accident.

Known as “bodily injury and property damage liability,” your motorcycle liability insurance covers the cost of liability claims and legal fees, up to the limits of your policy, if are at fault in an accident.

The amount of motorcycle insurance that you need depends on the type of bike you own and how you plan to use it. For example, if you ride a fast bike such as a racing bike or a super sport motorcycle (also known as a “crotch rocket”) your bike will be costlier to insure.

Additionally, you may want to increase the amount of motorcycle liability insurance as well as your coverage for hospital and medical care.

Motorcycle insurance works in the same way that car insurance works. For example, if you have bodily injury and property damage liability coverage, any damage you cause to someone’s property is covered by your insurance policy, up to the limits of your policy.

Your liability coverage will also cover some portion of your legal costs, if an injured party files a lawsuit against you. Again, the amount your insurance will cover depends upon the limits you choose when you buy your policy.

If the cost of the claim is beyond the limits of your policy, you will be responsible for paying any costs out of pocket for the other party’s injuries or damages.

The cost of motorcycle insurance varies widely. If you have a small Honda that you use for commuting and have a claims-free driving record, you may pay a few hundred dollars a year.

On the other hand, if you are a new teen motorcyclist and you are buying a crotch rocket, you may pay $3,000 to $5,000 per year in premiums.

A certain amount of liability insurance is required in every state and in the District of Columbia.

The precise amount varies from state-to-state, however. The state with the lowest liability requirements is Louisiana, which requires motorcycle operators to buy $20,000 of personal injury coverage, and $10,000 in property damage coverage.

The states with the most stringent requirements are Maine and Alabama, which each require cyclists to have $100,000 in injury coverage and $50,000 in property damage coverage.

Motorcycle insurance is important to protect yourself and others and to protect your bike. Motorcycles are much easier to steal than are automobiles or passenger trucks.

Also, once stolen, they are easy to strip down, rebuild, and sell. Moreover, motorcycles are much more dangerous to operate than are passenger vehicles.

Whether or not your insurance covers track days depends on your policy and your carrier. Some companies do cover track days, while others do not. Those that do cover track days, however, usually do so with several exclusions.

For example, many will not cover accidents that occur during a race, timed event, or speed test. They will, on the other hand, pay out for accidents that occur on a track day during which you were riding for the purpose of improving your bike-handling skills and to become a safer, more defensive.

Depending on your policy, motorcycle insurance may cover theft. Most, if not all, comprehensive insurance policies cover theft of your motorcycle whether it happens at home, on the road, or during transport.

Comprehensive coverage also pays for anything that might be stolen from your bike, such as mirrors, a radio, helmets, or other accessories. Be aware, though, that insurance companies only pay out if the loss exceeds your deductible.

Lower deductibles will require you to pay more for premiums, but you can determine the amount of deductible at the time you purchase your policy. Be sure to keep records of any add-ons or modifications you have made to your bike that affect its value.