What does motorcycle insurance cover?
Motorcycles (or bikes) are defined as two-wheeled vehicles that have at least three wheels. These are often referred to as motorized bicycles or mopeds. Motorcycles can be powered by electric motors or combustion engines, and are capable of reaching speeds of 40 miles per hour or higher.
Many states require motorcycle riders to possess a valid driver’s license and proof of liability coverage before they ride their motorcycles. Most insurance companies offer policies specifically written just for motorcycle owners. Some policies may provide additional options for the rider, including a mobile phone and personal accident protection. Other riders may purchase optional equipment, such as saddlebags, sidecars, and windshields, depending on what type of riding they do.
How much does motorcycle insurance cost?
The price of motorcycle insurance varies based on the amount of risk involved in the particular policy purchased. A rider who rides a low-risk motorcycle could expect to pay less than $300 annually. However, if he drives a high-risk vehicle, he could face a premium of over $10,000 each year. Riders should contact their insurer to find out the best rate for them, since different insurers charge different amounts for similar policies.
How do I get motorcycle insurance?
Insurance agents often work directly with insurance carriers to develop custom plans for individual customers. If a rider wants to buy insurance online, he can usually use the internet to compare rates from several providers. He should then choose a company with competitive rates and the right level of coverage.
Who covers me when I’m not driving my bike?
If a rider isn’t actually behind the wheel while riding his motorcycle, he might want to consider purchasing a separate policy known as Personal Injury Protection Insurance (PIP). This type of coverage pays medical costs and sometimes even financial compensation to people injured in accidents involving motorcycles. Riders should check with their insurance carrier about whether PIP is included in their policy.
Should I get motorcycle insurance? Why or why not?
All licensed drivers need basic insurance to protect themselves financially if they’re involved in an accident caused by someone else. But many riders choose to add extra insurance coverage to their existing policies as well. Depending on how many miles they travel each month, some riders may benefit from buying supplemental motorcycle insurance.
Buy motorcycle insurance
A lot of people don’t know where they can get cheap motorcycle insurance. You need to check out several different companies and compare rates to make sure you are getting the best deal. If you have been told not to buy cheap motorcycle insurance, I would suggest ignoring what they say. Many companies do offer cheaper prices if you buy multiple policies at once. There are many things to consider before buying motorcycle insurance.
You should look into what kind of coverage you want. Do you want full coverage? Or just liability only? How much protection do you need? What about collision and comprehensive coverage? Will you be riding off road? Most drivers who own motorcycles tend to have less accidents than those driving cars. But some states require riders to carry personal injury protection (PIP), which is often included in their motorcycle insurance policy. PIP covers medical expenses and lost wages after an accident.
Depending on the state, you may or may not be able to add uninsured motorist coverage. This means that if you were hit by someone without insurance, you could recover money from them. In addition to these basic types of coverage, it’s good to decide whether you want to pay extra for additional optional coverage. These options might include roadside assistance, trip interruption, underinsured motorist, theft recovery, etc. Another thing to think about is how old you are. Young adults between 18 and 25 years old generally find that the cheapest motorcycle insurance rate is $100 per month.
For older drivers, the costs go up dramatically. Your credit score also makes a difference. Generally speaking, poor credit scores will increase the cost of motorcycle insurance. However, if you keep your bills current, you shouldn’t have any trouble finding affordable motorcycle insurance.
Get Motorcycle Insurance Early
The earlier you buy your motorcycle insurance, the lower your premiums will probably be. While you’re waiting for your first paycheck, try to save around $25 to put toward motorcycle insurance. That way, you’ll get to enjoy the freedom of riding sooner!
Know Your Rights
If you are involved in an accident, it is imperative that you understand your rights. Under New Jersey law, passengers have the same legal protections as the driver. In order to protect yourself, it is important to learn everything you can about New Jersey motorcycle laws and regulations. In addition to knowing your rights, you should ask your insurer questions whenever something seems unclear. When dealing with insurers, you never want to take anything at face value. Asking questions shows the company that you are interested in protecting yourself.
Shop Around
Don’t let the first company you call be your only option. Compare rates and coverage from several different companies. You can even use online services to help you shop for motorcycle insurance.
Consider the Extras
While buying motorcycle insurance is essential, you shouldn’t forget about extras. Collision damage waiver (CDW) is a popular rider perk. CDWs cover damages done to your bike while parked. Comprehensive coverage includes property damage caused by natural disasters, fire, vandalism, and theft. Theft-recovery coverage reimburses you if your bike is stolen. Trip-interruption coverage pays for hotel rooms, rental cars, and meals in case your motorcycle breaks down and prevents you from reaching home safely. Roadside-assistance coverage helps you if you happen to run out of gas or break down and need assistance getting back on the road.
Keep Your Policy Up To Date
Inspect your policy regularly to ensure that it still meets your needs. Check the expiration date of your policy, contact your agent to confirm that your policy is still valid, and review your coverage limits. If you notice that your premium has increased, ask your agent why. Usually, a sudden change in your auto insurance will cause your motorcycle insurance rates to rise as well.
Make Sure to Read the Fine Print
Read your policy carefully. Look for any exclusions and limitations, including pre-existing conditions, and double-check the details. Also, always read over your paperwork to make sure that nothing was left out.
