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With high gas prices and a desire to help protect the environment from noxious fumes, motorcycles have gained in popularity as an alternative to larger vehicles. While a motorcycle can be a fun, inexpensive way to get to work, there is a hidden cost of motorcycles that many fail to consider. Motorcycle insurance is not necessarily in the same category as automobile insurance.

Motorcycle Insurance Can Be Cost Prohibitive

When you’re considering buying a motorcycle for commuting, you look at the reasonable cost of the bike. You look at the high gas efficiency and the money you’d save filling up the tank. But it’s a good thing you’re saving money on gas, because you might not be saving it on insurance. Insuring a motorcycle can be expensive.

The newer you motorcycle is and the more sport oriented it is, the more your insurance is going to cost. Fully insuring a motorcycle can cost hundreds per month while getting only basic liability might cost you only hundreds per year. Before you sign on any dotted lines, call around or use the internet to research the rates for motorcycle insurance that cover the bike you’re considering. Be ready for huge rate differences and think long and hard about the level of insurance you need. Liability does not cover the theft or destruction of your bike, it only covers any harm you might do to others.

Motorcycle Insurance Might Not Be Available

There are certain criteria to drive a motorcycle legally. In most states, you must have a motorcycle license and you must carry a minimum amount of insurance. If you finance a bike, you’ll be required to carry insurance at a certain level as well. What becomes tricky is when you can’t find insurance coverage for the bike you want due to any number of circumstances. Perhaps the bike has been modified, or you don’t yet have a motorcycle license. You might be too young or too old to qualify for a new insurance policy. Research before you buy. Riding without motorcycle insurance is not only dangerous, but illegal in most areas as well. You can even face jail time for lacking insurance on the road.

Absolutely Shop Around for Motorcycle Coverage

Motorcycle insurance can vary wildly from one company to another. Don’t feel obligated to go with the “suggested” company by the dealer or with your current insurance company. Shopping around can result in savings thousands of dollars over the course of the year.

Different companies determine motorcycle insurance rates in totally different ways meaning you might be looking at a quote of $2000 per year from one company and $500 a year from another. Shopping around will give you your price options as well as the different levels of coverage available for the same price. The more insurance you can afford, the better off you’ll be should you need to make a claim. It’s also important to choose an insurance provider with a strong reputation within the industry.