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Motorcycle insurance is similar to car insurance, but there are several key differences that people often assume to be true about it. Motorcycle ownership is also different from owning a car, and there are often more things to consider when it comes to insuring them.
Because of this, there can be confusion about what is true for motorcycle insurance and what isn’t. Here are some of the most common myths and misunderstandings about insuring motorcycles.
Motorcycle Insurance Costs More Than Car Insurance
While it is technically riskier to drive a motorcycle than a car, riders do pay less for motorcycle coverage than they do for regular car insurance.
To give you an idea, the average cost of car insurance is around $1,427 while the motorcycle insurance average is around $702 –that’s nearly half as much. This is because motorcycle repair jobs often cost less than those of cars.
Factors that determine how much you will be paying for motorcycle insurance include riding record, credit score, amount of coverage, location, and the value of the motorcycle in question.
Car Insurance Rates Don’t Affect Motorcycle Insurance Rates
Because the factors that determine how much you pay for car insurance, car and motorcycle insurance rates are more connected than you realize. In fact, any accidents you get into while driving your car will be reflected on your motorcycle insurance as well.
It’s for this reason that it’s recommended you get both car and motorcycle insurance from the same provider to make it all the more convenient and to increase the odds of qualifying for accident forgiveness.
Not Filing a Motorcycle Claim Will do Nothing to Rates
Actually, choosing not to file a claim in the event your motorcycle is damaged in an accident will not keep your insurance rates safe. Insurance companies are likely to find out when they look at your driving record when it comes time to renown your motorcycle policy.
So, it’s better to file the claim and pay your deductible than to pay for all the repairs on your own. It may even be more economically sound.
Others Driving Your Motorcycle Will is Covered by Their Own Insurance
People who use your motorcycle, even with your permission, aren’t insured while riding. The worst part about this is that any damage or accidents they cause will be reflected on your policy as the owner. Insurance more so follows the motorcycle than it does the rider.
Motorcycles Only Need Basic Insurance
When it comes to motorcycles, damages and injuries are far greater because bikes aren’t as dense or protective as cars are. Because of this, just basic liability insurance won’t cut it with a motorcycle.
Drivers are recommended that they carry full coverage with collision, comprehensive, and personal injury protection coverages.
Motorcycles Don’t Need Insurance During Winter
Motorcycles will absolutely need coverage while they are being stored and not used during the winter or off-season in some areas.
Comprehensive motorcycle insurance is actually required to insure motorcycles while they are parked or in storage. Hazards are more likely to occur with parked motorcycles than cars like theft, so it always helps to be prepared with the right coverage.