So you saved up money for a long time and finally accumulated enough to buy a motorcycle. The open road is calling you, and you can almost feel the wind blowing through your hair as you think about the freedom the bike offers. Of course, owning a motorcycle has a cool factor that can’t be denied, but it has other benefits, too. For instance, driving it to work when the weather isn’t bad is a great way to save money since the gas mileage is so much better than your car’s.
Before you can drive your motorcycle, though, you will need to have insurance on it. California requires all motorcycles to carry insurance just like a car would have to do. Rates for motorcycle insurance vary widely depending on a number of factors.
Type of Motorcycle
The type of motorcycle you drive has a big impact on insurance rates. A more powerful machine will cost as much as 10 times more to insure as a basic model or moped. In addition, a standard motorcycle insurance policy will not cover aftermarket parts or custom built bikes, so special coverage (at an additional cost) will be needed.
Because wearing a helmet lowers the risk of death in a motorcycle accident, states with helmet laws have lower insurance rates than those that do not. California does have a law requiring all riders including passengers to wear a helmet that meets safety standards.
Full vs. Liability-only Coverage
Similar to cars, motorcycles must carry minimum liability insurance; in fact, the minimums for motorcycles in California are the same as those for cars. Carrying physical damage coverage is not required by the state, but is likely required by the lien holder if the motorcycle is financed. Lien holders want to know that they can recoup their money in the event of damage or loss.
If you own the motorcycle outright, you should consider the impact it would have if your bike were totaled. If you don’t depend on it to get you around, you may not need to replace it if an accident were to occur. Alternatively, you may have enough money saved to replace it on your own without help from the insurance company. In these situations, you don’t need to carry collision and comprehensive coverage, which will lower your insurance cost significantly.
Choosing a Deductible
If you feel strongly about wanting to repair or replace the motorcycle, however, full coverage may be your only choice. In this case, choosing a lower deductible will mean less out of pocket cost, but a higher premium. A higher deductible will lower your premium; just be sure you can pay the deductible amount out of pocket if you need to.
The discounts available for motorcycle insurance are similar to those for auto insurance. Having a safe driving record, good credit rating, taking a safety course, and belonging to a motorcycle club or association are all good ways to save.
Get a motorcycle insurance quote from AIS Insurance to protect yourself from liability and loss while riding your two-wheeled vehicle.
The information in this article was obtained from various sources. This content is offered for educational purposes only and does not represent contractual agreements, nor is it intended to replace manuals or instructions provided by the manufacturer or the advice of a qualified professional. The definitions, terms and coverage in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.