How Much Does Motorcycle Insurance Cost And What Type of Insurance Do You Need?

Motorcycle enthusiasts know that body armor is the most effective way to protect themselves during an accident, but there’s something missing here. Motorcyclists must ride with the right insurance if they want to keep their bodies and wallet secure, but what type should you choose?

How Much Does Motorcycle Insurance Cost?

According to Statista, the average cost of motorcycle insurance for a 21-year-old is between $1,911 and $2,979. 16-year-olds pay the most, with averages ranging from $2,576 to $5,655, while 35-year-olds pay the least, as their insurance costs between $1,389 and $2,719.

Like car insurance, older drivers (aged 50 and over) will see their premiums skyrocket, but only for certain insurers and motorcycles. A BMW R 1250 RT costs $500 more to insure once a driver hits 50. That’s why it’s essential to compare motorcycle insurance quotes before settling. 

Checking Out Motorcycle Insurance Quotes Online

Insurers will use the same traditional insurance factors for motorcycles as they do for cars. That means your location, state’s requirements, yearly mileage, driving record, credit history, and motorcycle make and model will determine your insurance rates, and so will your coverage type.

While motorcycle insurance is often expensive, you shouldn’t pay more than you have to. Be sure to check out quote comparison sites, like Cheap Insurance, and get yourself motorcycle insurance today. You can shop based on state, location (zip code), and insurance type. 

What Types of Motorcycle Insurance Do You Need?

There are a wide variety of motorcycle insurance options available, and the type you’ll get will depend on your driving needs. 

Here are 7 motorcycle insurance options you may need.

1. Comprehensive Coverage

Comprehensive coverage covers damages not caused by a crash with another motor vehicle or object, like vandalism, wind, flooding, or theft. Motorists get to choose their deductible, but regardless of what you choose, you’ll often be covered for repairs up to your bike’s cash value.

2. Bodily Injury Liability Coverage

Bodily injury liability coverage helps cover lost wages and medical expenses that result from a crash where you’re at fault. Keep in mind that this liability may not extend to the passengers on your motorcycle. If that’s the case, you can get optional guest passenger liability coverage.

3. Collision Coverage

Collision coverage covers any damage that occurs when you collide with another object. This can include everything from a tree, to a building, to another vehicle. Since these types of collisions can cause significant damage to your motorbike, we recommend a low deductible. 


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    4. Medical Payment Coverage

    Medical payment coverage covers medical expenses that result from a crash, provided they’re necessary and reasonable. For example, X-rays or an ambulance ride. As motorcycle crashes are often severe, this type of coverage can give you peace of mind if you’re badly injured.

    5. Personal Injury Protection

    Personal injury protection is similar to medical payment coverage, except it covers much more. For example, it can cover lost income, medical bills, childcare, and funeral expenses. If you have a child, have little savings, or live alone, personal injury protection could really help you.

    6. Uninsured Motorist Coverage

    Uninsured or underinsured motorist coverage will cover you and your passenger’s injuries if an underinsured or uninsured driver is at fault for an accident. This coverage is especially helpful in states that have the highest percentage of uninsured motorists, such as Mississippi or Michigan. 

    7. Lease or Loan Gap Coverage

    Lease or loan gap coverage pays the difference between what your bike is worth and what you still owe on a lease or loan. Usually, you have to have collision and comprehensive insurance on the same policy to get lease or loan gap coverage, but all three of these options are worth it. 

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    How Much Does Motorcycle Insurance Cost And What Type of Insurance Do You Need? — Bike Hacks