Motorcycle Liability Coverage Cost

However the minimum limits does differ from each state.

Motorcycle liability coverage cost. Can pay medical expenses or funeral costs up to your coverage limit for you your family household members and your passengers due to accidental bodily injury while occupying your recreational vehicle no matter who is at fault. Read on to learn more about full coverage motorcycle insurance including how much it costs and whether it s worth getting. A youthful driver combined with full coverage and a sports bike can raise the average cost of motorcycle insurance easily above the 1 000 mark with some rates closer to 3 000. Almost all states require motorcycle liability insurance.

In some ways motorcycle insurance functions similarly to car insurance. States have made motorcycle insurance legally mandatory every rider benefits from active coverage regardless of local requirements. Though liability coverage doesn t protect you or your car it does protect your wallet. The average cost of motorcycle insurance is 702 per year in the u s but rates can vary by more than 250 depending on your location.

The average cost typically ranges among 100 to 500 per year. 20 000 of coverage for bodily injuries or death involving one person in a single accident. If your motorcycle is no longer eligible for total loss coverage at renewal your policy will still cover the actual cash value of your bike. For the state of michigan the mandatory minimum liability standards are.

Let s say that you bought a motorcycle for 15 000 and it s now only worth 10 000. The total cost for repairs is 20 000 the cost for medical treatment is 100 000 your property coverage is 15 000 and your bodily injury coverage is 60 000 you would be responsible for the remaining 45 000 out of pocket. If you re in an accident that s deemed your fault liability insurance covers third party costs you d typically be responsible for medical or auto repair costs that others might sustain due to the accident. Liability also includes coverage for guest passengers.

The average premium at safeco is about 450 a year but varies based on factors such as the rider s age motorcycle riding experience and the type of bike he or she owns says kurt brandau vice. If it s totaled and the latest model costs over 15 000 we ll give you that amount.