A Guide to Motorcycle Insurance by Daigle & Travers, Darien, Connecticut (203) 655-6974
The word motorcycle, even unspoken, seems to have a life unto itself. Few other words immediately engage all the senses. The thought of a motorcycle automatically brings to mind not just the machine, but the history, the people and the folklore that have become synonymous with this automobile.
Motorcycles were not always the ground-shaking, air-rumbling choppers that they are today. In 1885 Gottlieb Daimler decided to revamp a bicycle by adding an internal combustion engine; history was made and the legend began. Soon after Harley-Davidson Motorcycles brand was established, taking off exponentially when WWI hit and the US military relied heavily on these fast bikes for reconnaissance.[i]
The raw excitement of adventure and the thrill of speed and maneuverability found only in a super sport vehicle is precisely what necessitates comprehensive motorcycle insurance. Don’t be led astray by insurance companies who cut corners under the guise of saving you from hidden fees. Regardless of if you drive a motocross bike, moped, Segway or crotch rocket – motorcycles are fierce animals whose muscle needs to be appropriately accounted for in your insurance policy. If you build a relationship with a knowledgeable agent
What Does Motorcycle Insurance Cover?
Here are some options you should discuss with your agent:
Liability Coverage – Liability coverage provides protection against damages caused to other people and their property in an accident. Property may be another vehicle or it may be a stationary object, such as: a fence, utility pole, flag pole, tree, building, pet, mailbox, etc.
Collision Coverage – Collision coverage provides compensation (after your deductible) for damages to your bike in an accident.
Comprehensive Coverage – Comprehensive coverage provides compensation (after your deductible) up to the actual cash value for damages to your bike not caused by a collision such as weather, vandalism, animal damage or theft.
Additional Equipment Coverage – Additional equipment coverage will be necessary for customized add-on parts and accessories as most protection is for standard bike parts only.
Uninsured/Underinsured Driver Coverage – This type of coverage will protect you in the event that you are in an accident with someone who doesn’t have insurance or what they have is not adequate to cover the damages to you and your property.
Personal Injury Protection – Personal injury protection (PIP), also known as no-fault insurance covering passengers and pedestrians in an accident.
Full Replacement Cost – coverage that provides full replacement in a total loss scenario without deducting depreciation.
How Much Does It Cost to Get Insurance for a Motorcycle?
The number of variables involved in determining motorcycle insurance premiums is so large that we could not possibly provide a cost without finding out more about you and your bike. If you are looking for a rough estimate, figure you will have to spend somewhere between $300 and $3000. The reason for the wide range is two-fold – a motorcycle can be easily stolen and life-saving safety features are virtually non-existent. Sure, you could opt for a bike with a low center of gravity and an antilock brake system (ABS) or get the Honda Gold Wing with a front airbag, but the reality is that there is nothing but air between you and the 4000-pound steel machines careening by you on the highway. The smallest error could result in serious injury or death. In fact, according to the NHTSA, even though only 3% of registered vehicles are motorcycles, they account for 17% of the occupant traffic fatalities.[ii]
For this reason, the standard factors considered with all auto policies (car value, driving history, age of drivers, sex and marital status) will be even more pertinent when determining your policy rate. Insuring a 16-year-old boy driving a new Kawasaki Ninja H2 R is going to be exponentially riskier (and therefore more expensive) than insuring a 45-year-old married woman who has an old Honda CMX250.
How Can I Reduce My Motorcycle Insurance Rate?
- Bundle your policies – either multiple bikes or home insurance and auto coverage
- Opt for fewer payments (pay full policy upfront instead of monthly)
- Pay on time
- Choose to have a higher deductible
- Purchase “lay-up” policy to suspend coverage during winter months if bike not in use
- Take a motorcycle or driver safety course
- Maintain a clean driving record
- See if you qualify for a mature rider discount offered to experienced motorcyclists
- Store your vehicle with security in enclosed garage overnight
- Drive an older bike or a bike with a smaller engine (under 600cc)
Why settle for less?
If you find your current insurance policy is unable to offer you the insurance you need on your motorcycle, it is time to find a new agent. Read over your policy carefully. Spend time comparing all the aspects, not just the price of an insurance policy, and make sure it will give you the coverage you need.
Get the coverage you need.
We offer insurance for a variety of motorcycles including: street bikes, racing bikes, dirt bikes, motocross bikes, scooters, vintage and antique motorcycles, limited edition bikes, sport touring bikes, mopeds, Segways, choppers and more.
Daigle and Travers will provide you with the right coverage to make sure your investments are safe during a disaster. When partnering with us, we will give you all the necessary information and options you need to make the best choice of insurance company and policy. Give us a call today at (203)-655-6974.
[i] (Harris 2005)
[ii] (Motorcycles: 2015 data (Updated, Traffic Safety Facts. Report No. DOT HS 812 353) 2017)
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