To some, life on two wheels is the only option. They live the two wheel lifestyle all day every day. To others, a motorcycle is a way to break out of the day-to-day routine. There are also the mid-life crisis riders. But no matter your style, protection is a must for all.
Weimer Over Agency, Inc. understands the risks of riding and will do everything we can to make sure you have the right coverage in place to protect your passion.
What Does Motorcycle Insurance Cover?
A motorcycle insurance policy is similar to an auto insurance policy. It’s three forms of liability coverage, wrapped up in one policy of protection.
The three different forms of motorcycle liability insurance:
Bodily liability: Covers treatment costs if someone is hurt.
Bodily liability for all people involved: Covers treatment costs if multiple people are hurt.
Property liability: Covers repair costs if property gets damaged.
With motorcycle insurance, you set your protection limits. So if you purchase a 10/20/10 plan, your insurance company will pay up to $10,000 in medical care for one person, $20,000 for all injuries, and $10,000 in property damage. So before you go to any
other insurance provider and say, “I’ll take the minimum,
please,” consider the financial burden on your life if you
should get in an accident. If the costs of the crash exceed
your limits, the rest is out of pocket.
What Are the Motorcycle Insurance Requirements?
Well, it’s tricky. Each state is different. All the states besides
Washington, Montana and Florida require liability insurance
at a minimum, but the coverage amounts are up to you in
most cases. Even if there weren’t requirements, just knowing
you are protected from a financial disaster is worth the premium.
How Much Does Motorcycle Insurance Cost?
Motorcycle insurance premiums can range anywhere from a hundred bucks to more than $1,000 per year—varying by state, company and a ton of other factors.
Factors that can affect cost:
Where you live: Nearly every state has different minimum liability limits, as well as requirements for physical damage coverage.
What you ride: The make, model and year of your motorcycle will affect the cost of insurance. Just like a car, a new bike costs more to repair or replace than an old one.
Who you are: Your age and driving history are also taken into consideration with liability insurance. Statistically speaking, younger drivers are more likely to be in a serious accident, which means the cost of coverage is higher. Motorists with a history of collisions and traffic violations will also pay more.
How you ride it: If you use your bike every day to get to and from work, your risk for an accident is higher. If you only take it out on weekends, you are not as likely to encounter as many hazards.
Where you keep it: If you keep your motorcycle locked in a garage when not in use, this will result in lower premiums than if you leave it on the street.