Motorcycle Insurance Basics

Make sure you know all of the particulars of motorcycle insurance before you buy.motocross rider image by muro from Fotolia.com

Motorcycle riders face a higher risk of injury or death than those who drive cars or take public transportation. For that reason, many insurance companies do not offer motorcycle insurance. Those that do might not offer exactly the coverage you need. For this reason, it is important to investigate the matter thoroughly before you try to get the insurance that offers the benefits that best fit your needs.

Basic Coverage

A basic motorcycle insurance policy should include some specific coverages that are directly related to the high-risk nature of driving a motorcycle. For example, in driving a car, you are more likely to hurt someone else in an accident. With a motorcycle, though, you run more of a risk of hurting yourself. Some of these items of basic coverage include "medical coverage," which pays for a part of the costs for personal injuries during accidents; "collision coverage," which pays for the damages that occur to your motorcycle; "comprehensive coverage," which is the part of the insurance that pays for losses in case of vandalism, theft and any damage caused by hitting an animal; "uninsured and underinsured motorist coverage," which pays for a personal injury and property damage when the person who provoked the accident doesn't have sufficient insurance; and "roadside assistance coverage," which pays for towing arrangements and any repairs you might need for your motorcycle while driving.

There is another important coverage that should be included in motorcycle insurance policies called "liability coverage." Liability coverage is the part of your motorcycle insurance that pays for the costs of hurting someone else and not for the damages caused to yourself. The main difference between liability coverage and the other types of coverage is that it is regulated by the laws of the state. This state regulation means that liability coverage differs from state to state. Most states have laws that demand a low cost for this part of your motorcycle insurance coverage. However, you might choose to pay more for this coverage if you believe that it is an important part of your insurance.

The costs of a motorcycle insurance differ according to various factors, and they are usually set after the company analyzes these factors with you. Some of the factors that define your motorcycle insurance price are the annual mileage that your bike is capable of, your bike's brand and classification, your driving record, your age, the place and region where you live, your motorcycle's engine size, what uses you are going to give to your motorcycle, such as leisure, sport, everyday transportation, and your job. Once the company analyzes all of this information in respect to you and your motorcycle, it will set a monthly payment price (you can pay annually or twice a year if you desire) for your insurance, and it will inform you of that price. If you agree with the price, the company will issue your policy and send it to you.