Motorcycle Insurance Articles
How Motorcycle Insurance Costs Can Fluctuate Over Time
2010-10-21
When looking at the reasons for the fluctuations and higher motorcycle insurance costs you have to take a closer look at the total risk motorcycles pose to the insurance companies. While you can get good motorcycle insurance quotes online- bear in mind that they may be expensive compared to what a car may cost. This article will look at why a vehicle that may spend a large part of the year without being used cost so much to insure.
Motorcycles offer a lot to their riders; the freedom of the open road, low miles per gallon and relatively fewer repair bills. They can also offer recreational enjoyment and social status. Unfortunately, the disadvantages of riding a motorcycle can seriously outweigh the advantages.
There are three real disadvantages to riding a motorcycle and two of them lead into each other, weather, accidents and motorcycle insurance costs.
Even those who do not ride a motorcycle and who would never dream of doing so can understand how weather would be a deterrent. Unbelievably, a soft gentle rainfall can actually hurt a motorcyclist. At 60 miles an hour even a soft rain feels like a bunch of needles striking you. And consider the wind chill factor of riding a motorcycle in the snow. Therefore, weather can be a rather large disadvantage.
The biggest reason more people do not own and ride motorcycles has nothing to with the weather however. No, the biggest disadvantage is what happens if you are involved in even a minor fender bender as a bike rider.
Even the smallest of crashes on a bike can result in injuries and medical bills. Five times more motorcycle riders are injured or killed in minor crashes in one year then in car crashes. That is a huge risk to your insurance company and the biggest reason why your motorcycle insurance quotes are so much higher than those for your car.
That brings us to the last disadvantage of riding a motorcycle, motorcycle insurance rates. Insurance is basically a company taking the risk that you will not be involved in an accident or any other reason why they would have to pay out money.
You pay your premiums every month and the company gambles that they will get to keep if not all of your money as profit then a large part of it. If you pay insurance premiums of $1,000 a year for 10 years and have no accidents then the insurance company wins the bet. If however you crash and cause $30,000 worth of damages, they lose. A motorcycle changes the odds against them.