Motorcycle Insurance

Insurance in the motorcycle world is just like insurance anywhere else. One has a policy, a deductible and a risk analysis. The risk analysis however differs a bit with motorcycle insurance mainly because the risk (as compared to cars for example) is much greater with motorcycles. When one crashes, said crash can be downright deadly and motorcycles live in a world occupied by large automobiles. When you’re cruising down the road on a bike and have bigger pieces of machinery on either side of you, dealing with that reality is remarkably different than if you were in a car.

If you have a bike or are considering it, insurance is vital. Here we’re going to run down some of the best policies per distinct category that one can opt for. One of the best overall motorcycle insurance policies is Markel. The company has been going strong for over 40 years and offers policies covering any type of dirt bike, street bike, sport bike, touring motorcycles, trikes, big twins, it’s a crazy list! Markel discounts are also infamous, and it is not unheard of to receive as much as 35 percent off on a policy. These discounts typically include anti-theft alarm, renewals, anti-lock brakes, accident forgiveness (depending on the severity) and many more. For very safe drivers Markel offers something known as a diminishing deductible. This means your deductible will decrease by 25 percent for each year you stay accident-free.

If you’re a young driver then it’s hard to beat Allstate. The second largest insurer in the U.S., their popular First-Accident Waiver will forgive your first moto accident without a hike in your premium. Between you and me, after that first accident, you deserve a hike, but not with Allstate. Also included in their coverage are personal injury protection, medical payments, property damage/bodily injury and genuine parts guarantee. Allstate discounts will save you up to 50% on your motorcycle premium and you also get another 10% saving if you belong to an approved motorcycle association (the Mongols don’t count).

If you’re looking for the best affordable coverage, Safeco (part of the Liberty Mutual Insurance Group) offers very affordable coverage for nearly every type of bike. A slight caveat – there’s no coverage for bikes used in racing or those without nitrous oxide kits. If you have a Harley, Safeco offers a new replacement option of up to $1,000 for any safety apparel that was lost or damaged in a collision. Lastly, those who seek to policy bundle (the practice of combining multiple policies into one), Farmers Insurance is an excellent choice. Having your motorcycle, home, auto and life insurance all in one policy is one of the easiest things you can do in life. Take it from someone who has more providers and passwords than hair, it’s a real pain having to remember them all. Farmers will give you a multi-policy discount and some attractive, initial discounts to get you on board. Typical coverage will be for property damage and bodily injury, medical payments, collision, safety apparel coverage as well as optional equipment coverage. You can also obtain increased liability limits to match your car insurance policy.

Wow, we feel like we hit a lot here. It’s not the safest venture to get into (riding a motorcycle), but if you do, at least try and insure yourself in the best possible way.