How much is motorcycle insurance in Florida?  

Are you ready to drive the open road on your motorcycle and participate in the various bike weeks around the country? Before you head out on the road, make sure you have the appropriate amount of motorcycle insurance. Of course, you may be wondering how much a motorcycle policy in Florida costs. Let’s take a look at what goes into factoring the cost of motorcycle insurance.

The Factors That Affect the Cost of Your Florida Motorcycle Insurance

The cost of your motorcycle insurance policy depends on several factors, including your age, your address or geographical area, your driving record, how long you’ve been riding motorcycles, the make and model and how you use your motorcycle.

  • Your Chronological Age – In most cases, motorcycle riders who have not yet reached the age of 25 will pay higher premiums than older riders.
  • Your Gender – Men tend to pay more for motorcycle insurance than women.
  • Whether or Not You Are Married – If you’re married, you’ll likely pay lower premiums.
  • Your Motorcycle Riding Experience – If you’ve been riding motorcycles for years, especially if you’re accident and incident-free, your motorcycle insurance premiums are usually less expensive.
  • Your Vehicle Driving History – If your driving history for other types of vehicles doesn’t show any accidents, incidents or violations, you’ll most likely pay less for a motorcycle insurance premium.
  • Your Location – If you live in a low-crime area or rural area, you may pay less in premiums for motorcycle insurance. This is because there are fewer drivers on the road and less of a risk of your motorcycle being stolen.
  • The Make and Model of Your Motorcycle – The make, model and type of bike will make a difference in how much you pay for motorcycle insurance. Touring motorcycles are typically the most affordable when it comes to insurance prices.
  • How You Use Your Motorcycle – Individuals who ride their bikes every day to get to and from work and to run errands typically pay more for motorcycle insurance than those who simply ride their bikes for recreation.
  • Your Coverage Amounts – Your coverage amounts will affect your motorcycle insurance rates.
  • Your Deductible – Having a lower deductible typically results in higher premiums.

How Much Does Motorcycle Insurance Cost in Florida?

On average, motorcycles cost just under $600 a year to insure. However, that cost can range from $28 a month to $151. It’s important to note that riders must show proof of insurance or financial responsibility if they are ever in an accident while riding their bikes. For most riders, it means purchasing a liability policy. However, riders may also purchase a surety bond or get a certificate of self-insurance.

  • Bodily Injury – A minimum of $10,000 in bodily injury per person.
  • Bodily Injury per Accident – A minimum of $20,000 in bodily injury per accident.
  • Property Damage – A minimum of $10,000 for property damage.

Additional Motorcycle Insurance Coverages You May Want to Consider

Liability insurance covers the other person involved in the accident and their property. It doesn’t cover your bike or your injuries if you were to get into an accident. Therefore, you may want to consider getting a more comprehensive policy that includes:

  • Comprehensive – Pays for damage to your bike that occurs while you’re not riding it. This coverage typically includes theft of your bike, fires and vandalism.
  • Collision – Pays for the repairs to your bike or the replacement, and it doesn’t matter who’s at fault.
  • Underinsured and Uninsured – If you’re in an accident with a driver who is underinsured or uninsured, this helps pay for any costs over the amount of the other driver’s insurance policy limitations.
  • Total Loss Coverage – If your bike is new, usually less than 12 months old, and you experience an incident that totals the bike, this coverage pays for the entire cost of your bike.
  • Roadside Assistance – If you break down on the side of the road, this coverage helps pay for a tow truck.
  • Carried Contents – If you regularly carry personal belongings with you on your bike, this coverage helps pay for the replacement of those items after an accident or incident.

Ways to Keep Your Motorcycle Insurance Costs Affordable

If you’re worried about the cost of your motorcycle insurance policy, there are some things you can do to help lower the price of the premium. First, you might want to ask about a multi-policy discount. If you have more than one insurance policy insured with the same carrier, sometimes they’ll give you a discount. Additionally, if you’ve never been in an accident or it’s been many years since your last accident, you may be able to get a good driver discount. Insurance companies also sometimes offer cash discounts if you pay your entire premium upfront. Lastly, you can raise the amount of your deductible to make your motorcycle insurance policy more affordable.

Motorcycle Insurance with Fearnow

If you need motorcycle insurance in Florida, our agents at Fearnow can help you. We can listen to your needs and look up motorcycle insurance policies from numerous carriers. This allows us to find the right policy at the right price.

To get a quote for motorcycle insurance, give us a call at 813-689-8878.