Many enjoy the feeling of the open road, wind in their face and the scenery flying by. For the most adventurous amongst us, for whom a regular automobile does not satisfy the wildest of desires, they may choose a motorcycle to get those thrills, or even as a primary means of transport. If you own a motorcycle then you will undoubtedly need a different type of vehicle insurance, motorcycle insurance.

According to our research online, the average cost of motorcycle insurance annually is $720, or $60 per month. This is half the price of car insurance in the US. This rate is of course dependent on a number of factors: 

  • The age of the insured rider
  • The type of motorcycle 
  • Age of motorcycle
  • The driving record of the insured rider
  • State the bike is registered. 

Some of the more expensive states include: California, Louisiana, and Missouri.

As far as first party medical benefits, it depends on the state as to whether these will be extended to you. The basics though are that if you are involved in a motorcycle accident and injured in a crash, your medical coverage will come from the driver who caused the accident or your own first party coverage. This will require a police report, so if you are involved in a hit and run you might want to consult an attorney. If you have a rider on the bike they must be added on to your motorcycle insurance policy in order to receive first party benefits. However, be aware that sometimes first party benefits are not offered to those who choose to ride without a helmet.

Our final topic concerns customized motorcycles. The short answer is that a custom motorcycle requires customized insurance coverage, for which you will have to work with an insurance agent and have the bike inspected. If you, as a motorcycle owner/rider, pursue a regular policy on a bike that has been altered, you may only be covered for the portion of the bike that is stock. In addition, the insurance company can deny a claim based on the fact that you were riding something that they had not approved. Be aware of the specs of your motorcycle, especially if you purchase it used. Lastly, for those with custom equipment, there are typically add-on packages within your policy that will cover any special equipment that you use.