Why get it?
According to the Center for Disease Control and Prevention (CDC) an estimated 1,222,000 persons were treated in a U.S. emergency department (ED) for a non-fatal motorcycle-related injury. This means that although motorcycle insurance is not required chances of needing it are great. Because there are so many uninsured drivers in Florida a non at fault accident may not necessarily be covered. You cannot assume that the person who hit you has insurance.
Damage to your motorcycle may not be covered and the medical bills that you incur may also not be covered, leaving the financial burden to you and in some cases your family.
What is the cost?
The average cost for motorcycle insurance in Florida varies. Just like any other insurance coverage you choose to purchase, age, driving record, the age and model of the bike and other determining factors are taken into consideration when premiums are calculated.
Males and youthful drivers like most automobile insurance on average pay more; however all other discounts do apply. If you own a home you may be eligible for a discount, if you’ve taken safety courses or if you have an overall good driving record you could see reduced premiums. Coverage like anything else can be catered to your specific needs and adjusted to fit your budget.
A peace of mind…
Motorcyclists have to share the road with vehicles of all sizes from Hybrid smart cars to Eighteen Wheelers and because the population across the county has tremendously increased the chances of a collision with another vehicle also increased. The highways, interstates and inner city roads have become increasingly denser, creating more and more blind spots for the other driver, making the commute for a motorcyclist increasingly more dangerous.
Statistics show that most vehicle accidents happen within a mile of the driver’s home. So distance in most cases is not a factor. Don’t base your decision to not purchase motorcycle insurance on assumptions. Call your local agent and see what a motorcycle quote will cost you. It is worth doing.
Don Westerfeld has been active in the field of Insurance and Financial Planning since 1997. Don grew up in Indiana later moving to Lakeland Florida where he continues to reside with his wife and children. When he’s not in the office you can find him enjoying the great outdoors. He has served on several charitable business and non-profit organizations and continues to provide guidance, advice and support to local charities.
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