Cheap Motorcycle Insurance
What is Cheap Motorcycle Insurance?
Most states require drivers of motor vehicles to carry liability insurance. If you were responsible for damage to another person's property or injuries to another person, liability insurance would pay for the damages - up to the amount specified. If you are injured or your bike is damaged or destroyed, insurance won't cover the costs if you carry public liability insurance only. If the damages to others exceed your liability limits, the damaged party can sue you for the difference.
Liability Limits
When you buy insurance, you get a policy for certain things, up to a specified amount. For example, liability coverage is often stated as 25/50/20. This means that the insurance company will pay up to $25,000 for injury to each person, up to a maximum of $50,000 for injuries in each accident. They'll also pay up to $20,000 in property damage for each accident. If damages are greater than these limits, the person who has been injured or suffered property damage can sue you for the amount of damages, less the amount covered by your motorcycle insurance.
As the coverage amounts increase, so does your premium. The cheapest motorcycle insurance is the one with the minimum liability limits required by your state. If you can live with the gaps in coverage that a policy like this leaves, this is the cheapest way to legally get on the road.
Making Your Motorcycle Insurance As Cheap As Possible
There are other factors besides the type and dollar limits of coverage that impact your motorcycle insurance rates. Your driving record, of course, is an important factor. Fewer tickets and accidents on your record translate into cheaper motorcycle insurance. The type of bike you ride also plays a role. Riders with fast, expensive bikes are more likely to get into accidents, so the cost goes up. Even your zip code can have an effect because insurers look at the accident rates in your area.
Driving a relatively inexpensive, possibly older bike, and driving safely to maintain a good driving record will go a long way toward getting cheap motorcycle insurance.