It’s hard to believe, but there was a time when motorcycle insurance wasn’t required. Back when cars and motorbikes were new, roads were nearly empty and accidents were rare. Since then, though, motorized transportation has become the norm. Unless you live in a big city with good public transportation, you probably drive or ride to work, school, everywhere you need to go. Most of us can’t imagine living without our car or motorcycle.

Roads are crowded and speeds have increased. Accidents are commonplace. Property damage and injuries take place on a daily basis. If a motorcycle rider could only cause damage to himself and his own property, insurance would still be a good idea, but it wouldn’t be mandatory. The fact is, though, that when you’re riding a motorcycle or driving a car, you could be at fault for an accident that causes damage to someone else’s property, or worse, to their person. The legal system requires the responsible party to cover the expenses of the injured party, but what if you can’t afford it? Repairing or replacing a vehicle you damage could very well be beyond your means. Paying for medical care after an accident could be even worse.

In order to make sure that damages are paid for, most states require all motorists to carry liability insurance. The amount varies from state to state, but coverage amounts are usually pretty low in comparison to possible damages. Since insurance is required in order to use public roads, everybody has an insurance company. Once you’re buying insurance anyway, most of us take the opportunity to at least consider more than the minimum coverage.

The required insurance only pays for damages to the other party in the event that you’re responsible for an accident. That’s called liability insurance. Many people get more than the required amount of liability insurance to protect their assets. You see, if you cause more damage than is covered by your insurance policy, the other party can collect additional damages from you.

You might also choose to get insurance for your own benefit. If you are responsible for an accident and your motorbike is damaged or destroyed, or if you are injured, insurance can cover these expenses. Even if the other party is at fault, you might have trouble collecting if they don’t have insurance, or don’t have enough insurance. You can buy a policy that covers your losses in these cases.

Factors that influence the cost of motorcycle insurance include your driving record, the type of motorcycle you ride, and how much insurance you choose to carry. It’s all about how much the insurance company expects to pay out on your policy. If you have a clean driving record, you can get motorcycle insurance for much less. This is because the chances that the insurance company will have to pay a claim are much lower than they would be for someone with tickets or accidents on their record. If you ride an expensive bike, repair or replacement costs will be higher, so the premium is higher too.

The best answer in the long run is to make sure that you ride safely and keep a good driving record. Then you’ll be able to purchase motorcycle insurance at a reasonable price.

Author Bio: Written by Coleen Smith Motorcycle Insurance Comparison Motorbike Insurance Comparison Cheap Motorbike Insurance

Category: Finances
Keywords: motorcycle insurance, required insurance, mandatory insurance