Brian’s Take On Car Insurance Vs Motorcycle Insurance
Car Insurance Vs Motorcycle Insurance
Car Insurance Vs Motorcycle Insurance: You know that one moment when you are just vibing up and then something random pops up into your mind? As in, “Do I have to have motorcycle insurance” Yes, that is precisely what happened to me today! I was on a leisurely ride, blowing the wind through my hair (ok, maybe that was a little dramatic, but you get the idea) and it dawned on me just how familiar I am with motorcycle insurance. Do I need it? Or just leave it in the car insurance where it belongs. Because as I was deliberating, I thought; this is a dialogue we should have. Regardless of whether you drive on four wheels or two, insurance is essential on the road.
Let’s explore it together. Auto insurance vs motorcycle insurance. Which one should you choose? Unfortunately, there is no single answer to this question. Pros and cons exist for each type of insurance, with nuances unique to each. Also, it all depends on what you ride, where you ride, and what you like.
So if you want to make the right decision for your ride (whatever that is) from cost to coverage to risk, let’s unpack some key factors.
Fundamentals Of Car And Motorcycle Insurance
We can start with the basics of everything. That is to say that car and motorcycle insurance have a comparable purpose to ensure that you are financially secure if you are in a crash or your vehicle is damaged.
The problem is that the two types handle things in very different ways — and cover very different situations. Comprehensive car insurance typically includes coverage for collision, which helps fix your vehicle if it is damaged in a collision, and liability, which covers damage to other people if you are to blame. There is comprehensive coverage, which ensures your vehicle against non-collision scenarios, such as theft, vandalism, or a tree falling on it. Car insurance is usually structured to reflect the fact that cars do a lot of the heavy lifting on safety: airbags, seatbelts, crumple zones all of which help reduce the risk that you hurt yourself should the unexpected happen.
One notable difference between motorcycle insurance and car insurance is that motorcycle insurance usually brings roadside assistance and custom parts coverage to the table — something especially valuable if you have equipped your bike with premium parts or accessories.
The Cost Factor Of Car Insurance Vs Motorcycle Insurance
Okay, let’s talk about money. After all, who does not want to grab onto the best deal? Insurance is different for cars and bikes, but costs are subject to a few key variables.
The initial response to Car Insurance Vs Motorcycle Insurance questions might be that it’s a steal at $900 a year. Most car insurance is based on the premium of the car itself – cars are generally more expensive than bikes to purchase so you’d assume the premiums would be the same for bikes. More often than not, you’ll find that motorcycle insurance is lower, but not always. Motorcycles are cheaper to fix but also pose a greater risk. Motorcycle riders are way more exposed than the drivers of cars, and an accident involving a motorcycle usually results in more serious injuries. As a result, insurance for motorcycles can in some cases be pricier than car insurance, especially if you are a new rider or have a high-performance bike.
Conversely, car insurance premiums can remain relatively steady and consistent since they depend on the type of car driven, where the person lives, and the amount of driving done. With newer or luxury cars, your premiums might be through the roof due to the price of fixing or replacing these components. However, a vintage automobile, or a more recent model outfitted with essential materials for safety, may end up costing you less in premiums.
Coverage Considerations
Coverage is one of the most critical factors to take into account when deciding whether to buy car insurance or motorcycle insurance. Liability, collision, and comprehensive are the three most common types of car insurance coverage. Liability insurance pays for damage you cause to others if you’re at fault in an accident, but collision insurance pays for damage to your vehicle after an accident, regardless of who is at fault. Comprehensive insurance is anything that would fall in the category of not a collision, such as theft or vandalism.
Motorcycle insurance, on the other hand, is a bit more in-depth. In comparison, most of the same basic coverages are available but motorcycle insurance policies tend to offer higher medical coverage limits because motorcycle accidents can be significantly more deadly to the rider. If the crash is bad, then motorcyclist medical bills often exceed other types of crash expenses. Some motorcycle insurance policies come equipped with personal injury protection or medical payments coverage designed to help offset the costs of those pricey medical bills following an accident.
Motorcycle insurance can even cover you for money spent on protection gear like a decent helmet, gloves, or jacket — nice, right. Because in the event of an accident, your kit can be just as important as your bike!
Risk Factors
The most significant distinction between the two types of coverage is the level of risk involved. If we were to talk about statistics, motorcycles are hundreds of times more dangerous than cars. The National Highway Traffic Safety Administration (NHTSA) reports that a motorcyclist is 28 times as likely to die in a crash as a passenger car occupant per mile traveled.
Why is this? Well, cars come with all types of protection: seatbelts, airbags, and crumple zones that take the impact of a collision. Conversely, the motorcycle provides no safety. Once you fall off or crash, you are naked and can pay a high price for it.
But that’s not all. Of course, poor weather, slick conditions, and negligent motoring by other drivers pose a much greater risk to motorcycle riders. Much more exposed, so rain relies on gravel or even potholes. Additionally, motorcycles are more prone to theft, even when parked outside of a shielded area. So, even though a motorcycle itself is less expensive to repair or replace than a car, this is why premiums are higher.
Pick Out The Right Insurance For You
How do you then decide if Car Insurance Vs Motorcycle Insurance? But here is what it all comes down to your lifestyle, your preferences, and the risks you’re willing to take. For the road warrior, a motorcycle is likely the ride. It certainly brings the fun factor but comes with an increased risk, which is why motorcycle insurance is so important to be covered should the worst happen.
The choice of car drivers is usually a lot simpler. For daily commuters or family vehicles, it provides a lot of coverage and peace of mind. With the safety features built into your car, you probably will have less to worry about getting fatally hurt in an accident.
However, whether this is the driving force of your automobile or using your motorcycle associated with your coverage you need to be certain that you will get the correct protection it requires. Which involves assessing your driving patterns, type of car, and cash flow. Should you pay for full coverage, or is liability all you need? Maybe you’d make use of roadside assistance? Custom parts and pricey gear that should be shielded, perhaps? The answers to these questions will help you determine what type of insurance you should select for your vehicle.
Conclusion
Car Insurance Vs Motorcycle Insurance: At the end of the day, whether you need car insurance or motorcycle insurance will depend on your needs and your lifestyle. While both provide protection, they protect against two different types of risks — Car insurance typically covers a less-variable risk or risk with a safety net already built in it, while motorcycle insurance must cover you as the rider, providing more focused coverage due to a different level of risk associated with modeling a bike.
Be sure to discuss options with your insurance provider to have a clear picture of policies available to you before making your choice. A rate can be lower if policies are bundled, and it never hurts to ask your insurance provider to throw in extras like roadside assistance and custom parts coverage. Whatever you end up picking, the key point is to make sure you are covered wherever you go, be it during car rides or bike rides. Ride safe or drive safe! And take care.
Frequently Asked Questions
Because the base costs of the vehicles are lower, sometimes motorcycle insurance is cheaper. However, because the risk is also greater, the premiums that come with that affordable cycle culminate in higher premiums than cars.
If you want protection from accidents, damage, or theft, full coverage is suggested. But this will depend on how much your bike is worth and how often you ride.
Many insurers sell both car and motorcycle insurance. And this can often translate to better savings if you bundle them both together.
Yes, much like car insurance, motorcycle insurance is required in most states. However, the coverage may vary depending on your other rights.
Typically, no. A separate motorcycle insurance policy will be required for this, although some companies could offer a discount for bundling the two policies together.
