Introduction
If you’re in the market for motorcycle insurance, you may be surprised to learn how much it costs in Texas compared to other states. The average price of motorcycle insurance varies greatly depending on where you live and which insurer you use.
If you want to save money and get the most coverage possible, read on to learn more about how much is motorcycle insurance in Texas. By doing so, you’ll be able to research the best prices and coverage options out there and choose the right one for your needs and budget.
Types of Motorcycle Insurance Coverage
Motorcycle insurance will help protect you if you crash your bike or someone else crashes into you. The three most common types of coverage are liability, collision, and comprehensive. Liability is the part of your motorcycle insurance that pays for damages to other people's property or medical expenses if you cause an accident.
Collision pays for repairs to your motorcycle after an accident that wasn't your fault. Comprehensive provides protection against theft and weather-related damage, as well as losses from accidents not caused by the driver of the motorcycle--like fire or vandalism--for a higher premium.
For example, a typical policy might include $20,000 in bodily injury liability coverage per person and $40,000 per accident; $10,000 for personal injury protection (PIP) with limits of $25 per day; 50/100/50 uninsured motorist bodily injury coverages with limits of $10k/$25k/$10k respectively; 20/40/10 PIPs with limits of 100k/250k/$50k respectively; 10K depreciation up to 3 years old (or newer);
1000 deductible on the collision portion with no deductible on the comprehensive portion. Typical policies cost about 20% more than those without this type of security package.
State Requirements
All states require motorcycle riders to have a state-issued motorcycle license. Most states, including Texas, also require those riding motorcycles on public roads to register their vehicle and obtain insurance for them.
This typically costs an average of $50-$150/year with higher annual premiums for dirt bikes. Rates will depend on the bike's size and weight as well as the rider's age and driving record. If you don't have coverage,
you may be ticketed by police or cited in court if you are involved in an accident while riding your motorcycle on public streets. A ticket can cost up to $200 in Texas and carry additional penalties such as fines and jail time.
For example, running a red light carries a minimum penalty of $100 and 10 days in jail. In addition to tickets issued by law enforcement officers, other penalties may include lawsuits from individuals injured during an accident that is determined to be the fault of the rider.
That could lead to expensive medical bills, lost wages, pain, and suffering as well as property damage.
Types of Accidents
Motorcycles are usually an economical and convenient form of transportation, but they also come with some hidden risks. When you're on a motorcycle, your vulnerability to a variety of types of accidents increases dramatically: you're more exposed to drivers who might swerve into your lane and cars that drive too close behind you,
and the smaller size of a motorcycle makes it easier for vehicles to hit or crash into it from the side. You might be wondering how much motorcycle insurance costs in Texas. A quick comparison will tell you that the cost depends on many factors such as the type of coverage plan,
your age, and gender, where you live, and what type of motorcycle (e.g., bike vs.
Choosing What's Right For You
Motorcycle insurance policies vary in price depending on what the driver needs. There are three different types of coverage available: liability, collision, and comprehensive. Liability is typically required by law to operate a motorcycle; this covers medical expenses and property damage you may be responsible for to others.
Collision pays for damage to your bike caused by an accident, while comprehensive covers theft, vandalism, fire, and flood destruction as well as bodily injury. The actual cost will depend on things like vehicle identification number (VIN), deductible amounts, motorcycle type, and age.
For example, if you have a newer Honda CBR600RR with little to no history of accidents or thefts, comprehensive coverage will be cheaper than if it were a Yamaha V-Star 650.
The Lowdown on Costs
Insurance for a motorcycle costs about $10-30 a month, which will cost about $120-360 per year. If you have more than one bike you may be able to purchase an additional policy to spread the risk between them.
Your insurance company will also have different prices based on your driving record and other factors. These are just rough estimates and your monthly price may vary so it's best to get a few quotes before deciding on which company to go with. There are many sites online that can give you quick quotes but don't wait too long to shop around because prices can change without notice.
In addition, if your motorcycle is used mainly for leisure riding or pleasure then this could help reduce your insurance rate by as much as 20%. The reason for this is that motorcycles ridden for these purposes do not experience high rates of injury or property damage.
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