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Your Guide to Buying Affordable Motorcycle Insurance Without Sacrificing Coverage 

Planning on getting a bike soon? Already have one? Then you already know how important safety and insurance are when taking your scooter out for a ride. 

Motorcycle insurance is mandatory in every state in the U.S. except Florida, Montana, and New Hampshire. And even in most places where coverage is not the law, you’ll have to prove you have the financial resources to cover the cost of a serious accident. 

Do you have that kind of money just sitting in the bank, untouched? Not many do. 

But beyond the question of whether you must have insurance is whether you should — and that’s an easy one to answer. Getting into an accident could total a bike that may be worth many thousands of dollars. If the accident is your fault, you’ll be responsible for the medical costs and property damage of others. And if you’re legally charged as the result of such an accident, you’ll have lawyer bills and possibly hefty fines and court costs to worry about. 

The lack of adequate coverage could wipe you out financially. So, take a closer look at the issue and see how you can find cheap motorcycle insurance that will protect your finances without denting your wallet. 

Understanding Motorcycle Insurance Essentials 

Motorcycle insurance isn’t much different than an auto policy. In both forms, you can pay the lowest premiums by getting only liability. This policy does help to pay the medical bills and property damages of other people — those involved in an accident you caused. 

What about your own medical bills and the cost of repairing your bike or getting a replacement if yours is totaled? Those costs come out of your wallet. Forget about repairing or replacing your bike until you can save thousands of dollars. 

That’s why you need more than basic liability coverage. When you add comprehensive and collision benefits, the cost increases, but so does the level of financial protection and peace of mind. 

Read on for more details about comprehensive and collision, but first, take a look at what’s behind the cost of the premiums you’ll pay for your policy. 

Factors Influencing Motorcycle Insurance Costs 

Every insurer’s goal is to take in more money in premiums than they pay out in settlements — or at least to keep the two figures close. They do that by charging for factors, behaviors, and conditions they think might bring a higher risk of paying out — and charging you less for those they think will minimize your risk. 

For starters, you’ll be charged more for expensive bikes than cheaper ones. That’s for the obvious reason that pricey bikes cost more to repair and replace. 

High-performance bikes and those with larger engines cost more to insure for multiple reasons: They cost more, and they can get damaged more frequently because their riders tend to go faster. Additionally, some bikes are more attractive to thieves than others, which will be reflected in your rates. 

As the bike owner, your history and actions also affect the rates you pay. If you have a spotty driving record and lots of speeding tickets, the underwriters feel you’re at a heightened risk of accidents. Therefore, they’ll charge you more for coverage. On the other hand, a good or excellent driving record will result in lower rates. Experienced riders will pay less than newbies. 

Even your address can impact your premiums. Some zip codes have more crime and motorcycle theft rates than other areas. 

Customizing Your Coverage: Tailoring Your Insurance to Your Needs 

There are even more factors than those mentioned above that can work in your favor or against it when it comes to rate-setting. If you discuss your policy needs with a knowledgeable agent, they can help you find out what motorcycle coverage is best for you based on the factors that work to your benefit. 

Here are a couple of important decision points to keep in mind. 

Minimum vs. Full Coverage: Weighing the Benefits 

As outlined earlier, liability insurance costs less but offers fewer financial protections than full coverage. Your liability-only policy will never pay anything for damage to your own bike or injuries you suffer. 

Full coverage motorcycle insurance costs more but offers additional benefits. In addition to liability, collision and comprehensive insurance are at the heart of a full coverage policy. 

Collision offers a financial settlement, based on your deductible and coverage limits, to cover your medical bills or fix or replace your bike if it’s involved in an accident. You’ll get a settlement check even if that crash is your fault. 

Comprehensive benefits cover the many other ways your bike can be damaged, lost, or destroyed. With comprehensive, you’ll get a financial settlement if your motorcycle is stolen or collides with wildlife. You’ll also be covered if a tree limb falls on it in a windstorm, it’s destroyed by fire, or it’s swept away in floodwaters, among other catastrophic events that might befall your bike. 

A man motorcyclist seeking affordable motorcycle insurance in CA contacts his insurer while dealing with a roadside breakdown.

To sum it up, the main (and only) benefit of liability is cost savings and legal compliance, while full coverage offers liability as well as comprehensive and collision benefits. This grants you greater financial protection at a cost not much higher than minimal coverage — and is well worth it. 

Specialty Coverages: Beyond the Basics 

You can get even more financial security for minimal additional cost to your full coverage plan. 

For instance, roadside assistance benefits offer 24/7 toll-free assistance. Call your roadside assistance dispatcher any time of the day or night — weekends or holidays included — and you’ll get sent a technician with a can of gas, a battery charger, a tire, or a tow. Whatever you need, wherever you find yourself with your disabled bike. You’re never alone with roadside assistance. (Also, keep in mind that regularly going through a motorcycle maintenance checklist can mean miles of worry-free riding.) 

Now imagine being in an accident that’s not your fault — but the other driver doesn’t have any insurance or is underinsured. The authorities all agree the other driver owes you the $8,000 it will take to fix your bike, but you can’t get money from someone who doesn’t have any. 

Add coverage for uninsured and underinsured drivers to your plan. If the driver at fault for the accident can’t pay, your own insurance company will send you a check. 

These add-on benefits only cost a few dollars more but bring you the financial relief you’ll appreciate when you need it most. Ask your agent to describe all of the add-on protection you can get with your full coverage while still providing a cheap motorcycle insurance policy. 

Discount Discovery: Lower Your Premiums Without Compromise 

A savvy motorcycle insurance agent will ask you smart questions and find ways to keep your motorcycle policy affordable. That means taking advantage of cost-saving strategies and motorcycle insurance discounts wherever you find them — without giving up the options you need. 

For instance, you might be able to earn a discount on your premiums by bundling your policy. You can combine your motorcycle policy with your homeowners, renters, life, or other insurance line from the same insurer. Similarly, you might cut rates if you share the coverage with another motorcycle or vehicle you own and are also insuring. 

Some insurers will grant discounts if you take a recognized safety course or show proof of owning certain gear for safe riding. Insurers are keenly aware that safe driving saves bikers

Another cost-saving strategy might be to cancel your coverage during the off-season when you won’t be riding anyway. 

You can also pay less by asking for a higher deductible. Your deductible is the amount you agree to pay before your policy kicks in. If you have a $1,000 deductible, for instance, you’ll pay more out of pocket for an accident than if you had a $500 deductible, but you’ll also pay less in premiums. 

The point is that a savvy agent knows of various strategies to reduce your full coverage motorcycle premiums. That’s because independent agents represent not just one insurer but several major brands. In that way, they can shop on your behalf for the most affordable motorcycle insurance on the market. 

State-by-State Showdown: Where Affordable Rates Hide 

Are you wearing long sleeves or a sweater while reading this? A coat? Is your furnace on? Is there a hint of approaching winter in the air? 

If you answered yes to one or more of those questions, the odds are good that you’ll pay less for your motorcycle policy than you would if the sun is always warm and bright and shorts are something you wear year-round. 

That’s because your typical insurance underwriter figures your bike is less likely to get damaged if it spends six months a year under a tarp in your garage than if you wheel it all year long. 

For this reason, you’ll pay less for your coverage if you live in Wisconsin, Ohio, and Illinois than you would by being a resident of California, Texas, Arizona, or Florida. 

The Sun Belt is a great region to live in, but one of its few drawbacks is that you’re likely to pay more for your motorcycle insurance here. 

Get a Cheap Motorcycle Insurance Quote Today 

Where can I get cheap motorcycle insurance? Let our helpful and knowledgeable independent insurance agents answer that question for you. Cost-U-Less Insurance provides high-quality motorcycle insurance at budget-friendly rates. 

If you’re ready to start saving on your motorcycle coverage, give us a call at (800) 390-4071 or get a fast and free motorcycle insurance quote online. You can also find a Cost-U-Less office near you.  

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