How Does Florida Motorcycle Insurance Work?

How Does Florida Motorcycle Insurance Work
Like all other drivers on the highway, drivers of motorcycles are required to carry insurance of some kind to compensate for expenses in a potential accident. In Florida, there is no specific type of insurance that you must carry: it can be any kind of motorcycle insurance or even a health insurance policy, provided it provides at least $10,000 worth of coverage.
That makes Florida one of the most lenient states in the nation, as to motorcyclist insurance requirements, but one should also consider Florida’s Financial Responsibility Law, which would require one to pay for any damages caused to others’ property/person plus could even lead to one losing his/her license. That’s why it’s best, at minimum, to meet the $10,000 requirement in the form of bodily injury protection (liability insurance).

What Does Motorcycle Insurance Typically Cover?
Besides bodily injury cover, a typical motorcycle insurance policy will cover at least a portion of the expense of repairing or replacing your motorcycle in the event of an accident. But beyond basic cover against injuring others or damaging their property, and some degree of cover to your own property, you can “custom-build” your policy to your specific needs.

You may want to cover the full cost of replacing your motorcycle, in the event of a total loss, instead of just part of that (hopefully unnecessary) expense. Medical payments cover for any potential medical care you need as a result of a crash, un- and under- insured motorist (UM) insurance, and accessories cover for things like trailers, sidecars, upgrade equipment, and helmets and other protective gear is also available.

Finally, comprehensive coverage will help with losses not caused by a collision with another vehicle, such as hail, animal-vehicle collisions, and bike theft.

How Much Motorcycle Insurance Do I Need?
At minimum, as mentioned above, you need $10,000 worth of bodily injury cover, which is basic liability, to be safe. But how much motorcycle insurance you really need depends on your bike and on how you use it. If you ride a crotch rocket or other very, very fast-moving bike, that raises the risk of both property damage and personal injuries, so you should buy more insurance.

A common way of measuring the speed or “sportiness” of a bike is by using the horsepower to weight (of the bike) ratio. But specific makes and models are well known as fast bikes as well.

If you plan to use your bike for racing, dirt-biking, or any kind of close-quarters and/or high speed events or recreation, then that raises the costs of as well as the need for insurance. And if you want to cover other drivers of your bike (not just passengers but lending your bike to someone else), that needs to be in the policy, and it could raise costs a bit.

Why Does Motorcycle Insurance Cost More Than Car Insurance?
Overall, motorcycle insurance tends to cost more than comparable auto insurance. Why? There are many reasons for this, including: the higher collision, property damage, and personal injury rates, the fact that injuries tend to be more severe, and the relative ease of bike theft as compared to auto theft (and the low recovery rates of stolen bikes.)

To lower your premium, you can use an older, lower-value bike, use a motorcycle with a smaller engine size, pass a motorcycle safety course, or simply go with higher deductibles.

To learn more about Florida motorcycle insurance, contact Flagler County Insurance Agency today!