What do motorcycle owners and motorcycle insurers have in common? Their biggest concern is motorcycle theft. This is one of the main reasons you should have motorcycle insurance—the other being that many states require it, like California.
In 1996, California voters passed Proposition 213 which required all drivers of any type of vehicle on California’s public roads to carry at least a minimum amount of liability insurance. What is the minimum amount? It’s fairly easy to remember: think of 15/30. This means that $15,000 is provided to cover bodily injuries, $30,000 to cover all of the injuries in a single accident, and $5,000 to cover property damages.
Remember that this is just the minimum requirement for motorcycle insurance, and there are many other choices and levels available, including collision coverage and uninsured motorist coverage.
The first step, before even buying the motorcycle, is to check with your existing home and auto insurance broker—BMR Insurance, of course! Discuss the motorcycle that you are about to buy, as your premiums will be based upon several criteria, including (but not limited to):
- The motorcycle engine displacement size in cubic centimeters (cc)
- The type and brand of motorcycle
- The driver’s age
- The driver’s driving record and experience
- Whether or not the motorcycle will be in a garage or outdoors
- Approximate miles that will be driven per week
It makes sense that the more power you have, or ccs, the higher your insurance premium. But strangely, the type of motorcycle also affects the premium due to bodywork differences. A sport bike will usually be more expensive than a cruiser to insure, even if they have the same ccs, due to the plastic attachments that cover the engine and attach to other parts of the sport bike. These are easily damaged even in small accidents, and usually need to be replaced.
Again, it’s no surprise that younger drivers have higher premiums, as it’s the same with auto insurance. Statistics show that motorcycle drivers under the age of 25 are involved in the most accidents, as older drivers usually have more experience that allows them to drive more defensively—a very important part of riding a motorcycle.
Other situations that drive up premiums are a bad driving record, living in an urban area and not keeping the motorcycle in a garage. The last two are on the list because these are things that lead to high theft rates and accidents.
Remember, you can’t drive your motorcycle off the lot without insurance! BMR Insurance can help you get the best policy for you, so please call us if you’re considering buying a motorcycle. We’ve got you covered! (714) 838-1911 or click here to send Gary Arch an email.