Motorcycle Insurance – Do You Really Need It?

Having a motorcycle can be one of the most exhilarating things in life, but one of the questions I hear a lot is about the need for motorcycle insurance.

One of the most alarming statistics I’ve read on motorcycles is from the National Safety Council. They estimate a motorcycle accident that causes serious bodily injury happens every 14 seconds here in the U.S.

Another point that opens your eyes is that according to the national Insurance Crime Bureau Statistics, 20-25% of motorcycles that are stolen are ever found. And motorcycle theft is increasing every year.

These two statistics alone are reason enough to see the important of having motorcycle insurance.

What does motorcycle insurance cover/

1. Liability – covers the costs of injuries to others who are on your bike or who are hurt from your bike hitting them. This coverage will also pay for property damage.

2. Comprehensive – covers the damages from fire, hail, tornado, hitting an animal, and of course, theft.

3. Personal Items – covers items such as a motorcycle helmet, leather and other safety apparel.

4. Medical – covers you in case you need a trip to the hospital by ambulance, or any post accident physical therapy.

You can also find other optional coverage’s such as towing or roadside assistance in case of a breakdown.

What factors go into the rates I pay?

Insurance companies consider many different factors in setting motorcycle insurance rates. Some of the major points include:

1. Driving record/age – this is a big one. By keeping tickets off your record you’ll get the lower rates. Also, if you’re under 21, you can expect to pay higher motorcycle insurance premiums than someone who is 40, married and has an excellent driving record.

2. Type of motorcycle – rates for motorcycles under 1000cc will generally be less expensive. Also, rates on the high tech, “pocket rockets” will always be much more expensive them on a touring bike. The high performance bikes are built for one thing only, speed. You’ll pay higher insurance costs for it.

Motorcycle insurance is really a must have. In fact, in most sates it is required. When you add up the costs and the risks involved, I think you can plainly see the need to have your motorcycled insured with a good company. You’ll have peace of mind in knowing if your bike is stolen, or you’re involved in an accident, you have protection.