What type of insurance should I carry if I ride my motorcycle only on the weekends

by Mike | Mar 2, 2017

Motorcycle insurance, what should I have if I ride only on the weekends?

There are approximately 10 million registered motorcycles in the United States, making this an incredible popular method of transportation. With how affordable and enjoyable motorcycles are, this number increases regularly. Many people love the thrill of the open road in front of them as well as the open-air driving experience that a motorcycle provides. However, while some people ride their motorcycle on a daily basis as a primary form of transportation, others have incorporated this is a leisurely recreational activity in their lives. If you fall into the latter group, you may be wondering what type of insurance you need and if you can save money on motorcycle insurance because of your limited usage of the bike.

What’s the Importance of Motorcycle Insurance?

In 2012, approximately 93,000 motorcyclists were injured while riding, and some of these individuals were seriously or even fatally injured. In many cases, the motorcyclist was at fault because of driving under the influence, speeding, aggressive driving and more. In other cases, the accident could have been prevented through improved defense motorcycle riding techniques. You can watch this helpful retro video to learn more about the basics of safe riding, and you may also take a full motorcycle safety course to improve your security on the road, which can help lower your motorcycle insurance premiums. Because motorcycle accidents are common, you need to have a way to pay for the damages you cause to others as well as to pay for repairs to your bike, for medical bills and more. Motorcycle insurance is required in most states for most drivers, regardless of how infrequently you ride. This coverage is beneficial because it drastically reduces the financial impact a motorcycle may have on you. However, you may be wondering if you need special motorcycle insurance because of how infrequently you ride.

What Are Average Motorcycle Insurance Costs for riders?

Motorcycle insurance coverage will become a regular aspect of your budget because it is required and beneficial. The cost for motorcycle insurance can vary based on many factors. For example, your age, gender and driving history are reviewed by insurance companies when determining your rates. The motorcycle’s horsepower, value and other features are also reviewed. If you have not yet purchased your bike, you may want to get a motorcycle insurance quote on different models before you finalize your buying plans. In addition, your location and coverage limits may also play a role in your rates. With so many factors at play, you can see that it can be difficult to nail down a reasonable amount for you to pay for your coverage. However, if you have a touring bike, you can reasonably expect to pay approximately $200 to $500 per year in coverage. A touring bike is one of the more affordable types of bikes to insure, so there is a good chance that your coverage may be much more than this if you have a sports bike or other high-performance vehicle.

How Can You Choose Between Liability and Comprehensive Motorcycle Insurance?

A critical factor that will determine your rate is the type of coverage that you select, but you may not know which type you need. Liability coverage pays for damages you cause to other people while on your bike, and this is the type of coverage that is more commonly required by state law. State laws vary, so it is important to review requirements for minimum coverage in your state. This should be a starting point when buying insurance, but you may wish to purchase more than the minimum amount required by the state. If you rarely ride and feel confident in your skills, you may want to opt for affordable liability coverage. Comprehensive coverage is also available, and it includes liability coverage as well as coverage for your medical bills, vehicle repairs and more. This may be more costly, but it offers far more protection.

How Does Your Usage Impacts Your Rates?

With most insurance companies, there is not a separate policy available for weekend use of a motorcycle. However, many insurance companies do take into account your mileage when determining your rate. Some will factor the savings directly into your rate rather than apply a special mileage discount. Others offer a low mileage discount for additional savings. When you are shopping for coverage, look for insurers that offer steep discounts based on limited mileage for the maximum savings.

What Are Other Ways to Save Money on Motorcycle Insurance?

With limited use of your motorcycle, you understandably want to keep costs as low as possible. While mileage is one factor that affects your rates, it is not the only one. You can enjoy lower rates when you opt for a higher deductible or lesser coverage. You can also look for other discounts, such as from bundling your insurance policies together, setting up an auto payment, paying the entire premium up-front, taking advantage of student discounts or good driver discounts and more. In addition, keep in mind that insurance rates adjust frequently. The company that was once most affordable for you may no longer be your best option. It pays to shop around for new rates as frequently as every year.

Motorcycle insurance coverage may be a necessary expense related to your ownership and usage of your vehicle, but it does not have to be a burdensome expense that drains your budget, especially if you only ride on the weekends. By understanding the components that are used to calculate rates, you can more easily set up an affordable rate. More than that, shopping around periodically and seeking low mileage discounts is an effective way to save money based on your limited usage of your motorcycle. Through these efforts, you can save money while still getting the protective motorcycle insurance coverage you need.