Motorcycle Insurance in 2020

motorcycle insurance in 2020

Interestingly, not all states require motorcycle riders to have liability insurance. The average motorcycle on the road today weighs about 550 pounds and can do a lot of damage if it happens to crash into your vehicle or other property.

 

Also, consider having 550 pounds of metal lying on top of you. Although most motorcycle accidents are not caused by the rider, it’s important that a bike owner understand the risk involved with owning one and riding it.

 

 

There are many aspects to think about when shopping for motorcycle insurance, including the level of coverage, the cost, and the company you prefer to do business with. Whenever you take to the road on your bike, there will be a chance of an accident that could result in injuries to other people or other people’s property and to you and your motorcycle.

 

For this reason, you need motorcycle liability coverage, at the very least. Fortunately, there are many auto insurance companies to choose from and shopping most of them can certainly save you money.

 

 

How Does Motorcycle Insurance Work?

 

 

Similar to a car insurance policy, motorcycle insurance is a package of coverages that offer protection for your motorcycle, protection for you, protection against liability if you are in an at-fault accident, and protection if you have another rider (passenger) on your bike.

The coverages available in a standard motorcycle policy should be sufficient to protect the majority of motorcycles unless the bike you own has some unusual characteristics.

 

Bodily Injury Liability
Pays for injuries you cause to a third-party in an at-fault accident. Depending on the state you live in, your bodily injury liability may also provide protection if a rider (passenger) on your motorcycle is injured because of an at-fault accident.
Property Damage Liability
This coverage pays for damage you are liable for if you should hit a third-party’s property.
Medical Payments
Medical payments coverage can help pay for the medical or funeral expenses of covered drivers and passengers after an accident, regardless of fault. In most states, it’s an optional addition to your motorcycle insurance policy.
Uninsured Motorist
If you have UM protection for your motorcycle, it will kick in to cover your property damage, injury bills, and even extra stuff like lost wages if the at-fault driver has no liability protection (or not enough).
Comprehensive and Collision
While liability is all about covering the other driver’s expenses after an accident, collision coverage helps repair your bike if you cause an accident. Collision also helps cover the cost of riding apparel and helmets damaged in a covered incident. Comprehensive coverage, on the other hand, kicks in after a non-collision incident such as a stolen motorcycle or that dead tree limb crashing down on your ride. Comprehensive can help pay the damage or even replace your motorcycle altogether. Both of these coverages are subject to the deductible you select when you apply for your insurance.
Additional Equipment
This is the coverage you need to protect any optional equipment that has been added to your motorcycle like saddlebags, luggage compartments, windshields, or custom seats.
Roadside Assistance
Motorcycle towing and labor coverage kicks in if you’re stranded, your bike breaks down, or you need a tow. It can even cover labor costs if the mishap is due to a dead battery, flat tire, lost keys, or an empty fuel tank.

 

What Factors Determine the Cost of Motorcycle Insurance?

 

Like car insurance, certain factors regarding you and your motorcycle will determine the premium for your coverage:

  • Your age and riding experience
  • Your driving record (most companies check the previous three to five years)
  • The style of your motorcycle (cruiser, custom, or sport)
  • The year your motorcycle was manufactured
  • How many miles you ride annually
  • Where you park your bike (garage, driveway, parking lot)

 

Click on your state to see the Cheapest Motorcycle Insurance Rates!

What are the Liability Limits required in my State?

 

Just like the minimum liability limits for car insurance differ in different states, so does the minimums for motorcycle insurance. In fact, Florida doesn’t even require motorcycle owners to carry insurance in the state.

 

 Here are the minimum motorcycle liability limits by state: 
StateMinimum LiabilityStateMinimum Liability
Alaska50/100/25Montana25/50/20
Alabama25/50/25Nebraska25/50/25
Arkansas25/50/25New Hampshire25/50/25
Arizona15/30/10New Jersey15/30/5
California15/30/5New Mexico25/50/10
Colorado25/15/15New York25/50/10
Connecticut20/40/10Nevada15/30/10
Delaware15/30/10North Carolina30/60/25
FloridaNot RequiredNorth Dakota25/50/25
Georgia25/50/25Ohio25/50/25
Hawaii20/40/10Oklahoma25/50/25
Idaho25/50/15Oregon25/50/20
Illinois25/50/20Pennsylvania15/30/5
Indiana25/5/10Rhode Island25/50/25
Iowa20/40/15South Carolina25/50/25
Kansas25/50/10South Dakota25/50/25
Kentucky25/50/10Tennessee25/50/15
Louisiana15/30/25Texas30/60/25
Maine50/100/25Utah25/65/15
Maryland30/60/15Vermont25/50/10
Massachusetts20/40/5Virginia25/50/25
Michigan20/40/10Washington25/50/10
Minnesota36/60/10West Virginia25/50/25
Mississippi20/50/25Wisconsin25/50/10
Missouri25/50/10Wyoming25/50/20

 

Your liability limits are represented as follows: BODILY INJURY LIMIT PER PERSON/ BODILY INJURY LIMIT PER ACCIDENT/ PROPERTY DAMAGE LIMIT

 

What Happens if I Cross State Lines and Have an Accident?

 

This is an important question especially if you live in an area where you regularly cross state lines.

Here’s an example:

Jim lives in north Georgia and carries Georgia’s minimum liability limits of 25/50/25 and he regularly visits friends in North Carolina where the minimum limits are 30/60/25. If Jim is in an at-fault accident while in North Carolina, his liability limits would automatically be increased to comply with the minimum limits in North Carolina.

 

How does the Style of a Motorcycle affect the Insurance Rates?

 

As we mentioned earlier, the style or type of bike you own can affect the premium you pay for your motorcycle insurance. For example, sport bikes (ninja style bikes) cost more to insure that cruiser bikes.

Typically, this is because sportbikes are much quicker than cruising bikes, and owners typically buy them for the speed, and unfortunately, there’s usually not much left of the bike after a crash.

Here are the rates for a 25-year-old single male with a clean driving record. The coverage quoted is 25/50/25 and includes comp and collision with a $500 deductible on each:

 

Style of MotorcycleMake and ModelMonthly Premium
Sportbike2020 Kawasaki Ninja 650$548
Cruiser2020 Honda Goldwing$263
Motocross2020 Kawasaki 450$102
CustomCan Am Spyder F3$253

 


The rates listed above are from GEICO and are actual rates using the assumptions listed above. As you can see, the Ninja style (sport) bike rates are double the rates for a cruiser or custom bike and over four times the rates for a street-legal motocross-style bike.

 

motorcycle styles

Frequently Asked Questions

What does motorcycle insurance usually cover?

Similar to a car insurance policy, motorcycle insurance is a package of coverages that offer protection for your motorcycle, protection for you, protection against liability if you are in an at-fault accident, and protection if you have another rider (passenger) on your bike.

How much will my motorcycle insurance cost?

Like car insurance, certain factors regarding you and your motorcycle will determine the premium for your motorcycle insurance coverage:
– Your age and riding experience
– Your driving record (most companies check the previous three to five years)
– The style of your motorcycle (cruiser, custom, or sport)
– The year your motorcycle was manufactured
– How many miles you ride annually
– Where you park your bike (garage, driveway, parking lot)

Will the style of my motorcycle increase my insurance premiums?

The style or type of bike you own can affect the premium you pay for your motorcycle insurance. For example, sport bikes (ninja style bikes) cost more to insure that cruiser bikes. Typically, this is because sport bikes are much quicker than cruising bikes, and owners typically buy them for the speed, and unfortunately, there’s usually not much left of the bike after a crash.