Motorcycle Insurance Basics for Beginners

There are many similarities between motorcycle insurance and personal auto insurance, so several new bikers know the gist of what to expect when looking to purchase their first motorcycle insurance policy. It’s important to be aware of the differences, however, to make sure you, your bike and anyone who rides it are covered in case of an accident.

What Motorcycle Insurance Covers

Motorcycle insurance policies cover the bike, the driver, passengers and other people on the road. Common coverages include:

• Comprehensive Coverage: Comprehensive coverage provides compensation for damages to the motorcycle due to fire, wind, lightning, falling objects, theft, vandalism and other incidents not including collision.
• Collision Coverage: Collision coverage provides compensation for damages to the motorcycle due to a collision with another vehicle or object.
• Medical Payments Coverage: Medical payments coverage provides compensation for you and your passenger’s medical bills in case of an accident, no matter who is at fault.
• Liability: Liability insurance covers bodily injury and property damage the biker may cause while operating the motorcycle.
• Uninsured/Underinsured Motorist: This coverage steps in after accidents involving another driver not carrying insurance.

Unique to vehicles such as motorcycles, you can also purchase guest passenger liability. This guarantees a passenger on your bike will be covered in case they’re involved in an accident you may cause. You can also purchase additional coverage for customized motorcycle parts.

Motorcycle Requirements

In most states, motorcycle insurance is required. Check with your state to determine how much insurance you must carry in order to operate a motorcycle legally.

In Texas, bikers must carry at least:

• $30,000 in bodily injury liability per person
• $60,000 in bodily injury liability per accident
• $25,000 in property damage

How Much Does Motorcycle Insurance Cost?

The cost of motorcycle insurance is subject to the same influences as car insurance. Motorcycle insurance premiums depend on a combination of your age, gender, credit score, driving record, coverage limits, deductible and location. Younger drivers tend to pay higher rates in motorcycle insurance premiums, while drivers with a good record tend to pay less.

Thankfully, despite the somewhat increased danger of motorcycles, these premiums are still substantially less than most car insurance premiums. The average cost of car insurance in Texas, for example, is around $519 a year (about $43.25 a month). This also depends on your insurance provider and possible discounts. Ask about discounts regarding good driver, good credit, bundling and more.