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The natural assumption that most people make is that insurance on a motorcycle must cost a lot more than insurance on a car. This is actually not true, it is much cheaper to insure a bike than a car. This confuses people since everybody knows that it is more dangerous to ride a bike. So why are bikes cheaper to insure than cars? The answer has to do with who is most in danger when riding motorcycle.
The amount of damage that you can do with a motorcycle is far less than you can do with a car, this is the main reason that bikes are cheaper to insure than cars. For the insurance company the liability coverage is what costs them the most money, say respected Carole Nash Insurance Consultants. The amount they have to pay for damage you did to other people will always be more than the amount they pay for damage you did to yourself. Since a car can do far more damage than a bike the amount that has to be paid out of a car accident is much higher, and that means that drivers pay more for liability coverage than motorcycle riders do.
It also tends to cost less to repair any damage to a bike than it does to repair damage to a car. Bikes are cheaper and easier to fix so the cost of an accident is also less when it comes to repairing a bike. On the other hand bikes tend to be involved in accidents more frequently than cars which offsets a lot of the savings from the cheaper repair bill. Even so it does normally cost less to insure a bike against damage than it does to insure a car.
One area where it will cost more to insure a motorcycle is personal injury cover for the rider. A driver of a car is normally covered for personal injury as part of his regular insurance plan, bike riders are not. This helps to keep the cost of basic insurance down, since the insurance company doesn’t have to pay for any injuries to the rider. However most motorcycle riders purchase personal injury insurance to cover them in the event that they get hurt in an accident. Quite frankly it would be stupid to ride a bike without this insurance, the chances of being injured in an accident are pretty high. The cost of personal injury coverage is pretty high. You can save money by not having it but that is a really stupid idea.
One of the best ways to save money on the cost of commuting is to get a motorcycle. Not only are they cheaper to buy and to operate they are also cheaper to insure. The reason is that they pose little danger to other people. However there is danger to the rider of the bike and you need to make sure that you are protected in the event you get hurt in an accident.
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