Hint: Your auto insurance will not cover your bike
Everyone knows there are major differences between driving a motorcycle and driving a car—but what many folks don’t realize is that their auto policy won’t cover their motorcycle and their motorcycle policy won’t cover their car. The insurance requirements for these two types of vehicles are different and it’s important to know how if you’re the owner of either (or both). Here’s a quick guide:
Motorcycles are often not the main method of transportation for owners. Whether you’re a weekend warrior or you only ride your bike during certain seasons, you may have the option to choose an insurance policy that allows you to specify when you ride—helping you to save money on your premiums. This is not an option with your auto insurance. Motorcycles can also fall victim to theft, fire, and other unforeseen events just like cars, so even if you’re not riding it as often as you’re driving your car, you’ll want to make sure you have the right protection.
Depending on what kind of driving you will be doing on your motorcycle, how experienced you are, and your driving record, your bike insurance will likely be less than your auto policy. Although riding a motorcycle is often more dangerous and a higher risk than driving a car, these factors can influence a lower rate. Keep in mind that in many states you have to pass a rider training program before you can get a license or have a motorcycle endorsement added to your driver’s license.
Helmet laws affect motorcycle insurance rates
In many states, helmets are only mandated for motorcycle riders under the age of 21. While this makes many motorcyclists happy, it has also caused the cost of insurance to go up. And because riders in Florida need at least $10,000 in medical benefits coverage (other states require as much as $200,000 in medical coverage), the cost to insure their ride can get quite costly. Motorcyclists who wear helmets, on the other hand, can save on their premiums.
Motorcycles and their riders suffer more in an accident
Although some states do not require motorcycle insurance, you’d be foolish not to have a policy in place to cover you and your bike in the event of an accident. In most cases, if a bike collides with a car, the bike and the rider suffer greater damage and injury than the other vehicle. So if you don’t have the right amount of coverage, you stand to lose a lot by way of costly repairs and medical bills.
It’s recommended that motorcyclists have the following coverage:
While the same types of coverage are available and recommended for cars, many drivers can get away with minimum coverage and opt out of comprehensive. But for a motorcycle rider, having inadequate insurance is a much riskier proposition.
Motorcyclists need medical coverage
It’s a sad fact, but in most cases, if you are involved in a crash with your motorcycle, the odds of getting injured are quite high – much more so than if you were driving a car in the same accident. That being said, unless you have health insurance that includes coverage for an accident on your bike, you need medical coverage included in your motorcycle policy.
If you own both a motorcycle and a car, remember that you need two separate polices for these vehicles. Of course, if you are an occasional rider, you may have the option to add coverage to your auto policy, but it’s best to speak to your provider and find out the best option for your specific needs. While saving money on monthly premiums is always a goal, skimping on your coverage is never a good idea, especially when you consider the risks of hitting the road on a bike.
For more information about insurance for your car or motorcycle, give us a call at 305-648-7070 or fill out our online quote request form. We are standing by to assist you in getting the coverage you need.