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Motorcycle Insurance in Florida

You need motorcycle insurance if you own or ride any type of motorcycle in Florida. Motorcycle insurance in Florida is available for all types of motorcycles, including standard, sports, touring bike, cruiser, off-road, and dual-purpose bikes. Florida motorcycle insurance also caters to three-wheeler motorcycles popular in the Sunshine State. Like regular auto insurance, motorcycle insurance has different types of coverage, each of which protects against specific perils. The different types of coverage include motorcycle collision insurance, comprehensive coverage, coverage for custom parts, and medical payments coverage. Others include roadside assistance, uninsured/underinsured motorist coverage, motorcycle repair insurance, and total loss coverage. Florida residents purchase motorcycle insurance for various reasons. Still, the major reason is to protect themselves from the financial burden of having to repair or replace a damaged or stolen bike.

Typically, Floridians purchase motorcycle insurance coverage policies that suit their exact needs. For instance, a person in Florida who resides in a county with a high crash rate (such as Miami Dade, Broward, Duval, Hillsborough, Palm Beach, and Orange) will likely want to get collision coverage, comprehensive coverage, and medical payments coverage.

What is Motorcycle Insurance?

Motorcycle insurance, sometimes called bike insurance, is a stand-alone coverage structured to provide adequate coverage for diverse motorcycles and related vehicles, like trikes, mopeds, scooters, golf carts, snowmobiles, dirt bikes, V-twin, and all-terrain vehicles. Motorcycle insurance typically covers two-wheeled land motor vehicles and three-wheeled motorcycles designed primarily for public roads. While motorcycle owners/riders can add their motorcycles to the personal auto policy (PAP), coverage gaps can occur, hence the need for motorcycle owners to get this coverage to reduce or eliminate such gaps. The cost of repairing or replacing a damaged motorcycle can be expensive, depending on the type, model, make, and age of the motorcycle. Whichever the case may be, Florida motorcycle insurance can help deal with the motorcycle’s associated repair/replacement costs, so the owner does not have to pay out of pocket for such unplanned expenses.

When Do you Need Motorcycle Insurance?

In Florida, you are not mandated to have motorcycle insurance if you own a motorcycle, except if you choose to ride it without a helmet (like a regular helmet, smart motorcycle helmet, or motorcycle helmet with a heads-up display). In such a case, you will be required to purchase a minimum of $10,000 in proper health insurance or medical payments coverage. Riders or passengers under the age of 21 are required by law to wear a helmet in Florida. Motorcycle casualties have been rising since 2018, as examined in a three-year trend recorded by the Florida Department of Highway Safety and Motor Vehicles. The trend continued in 2021.

If you get into an accident on a motorcycle, you will get injured 85% of the time. Make sure to carry enough medical coverage and/or health insurance, in addition to property coverage.

Motorcycle Crash Statistics in Florida

(2018 - 2021)

2018 2019 2020 2021
Motorcycle Crashes 9,143 8,895 8,045 8,639
Injuries From Crashes 7,849 7,719 6,920 7,414
Motorcycle Fatalities 531 550 552 595

Source: Florida Crash Portal

As detailed in a report by the Florida Department of Highway Safety and Motor Vehicles (FLHSMV), other motorcycle casualties were also reported. Most crashes ended with totaled motorcycles, especially high performance motorcycles, supersport, and sport bikes. With the high rate of motorcycle crashes in Florida, having motorcycle insurance is necessary to ensure you are protected from financial losses in the event of an unforeseen circumstance involving your motorcycle. Motorcyclists between ages 15 and 34 account for over 40 of all riders injured and killed in motorcycle crashes in Florida. However, the average age of fatally-injured riders is 40. In addition, counties like Hillsborough, Lake, Lee, Miami-Dade, Orange, and Volusia have track records of high rates of motorcycle casualties as recorded by the FLHSMV. If you are based in any of these counties or other areas with high rates of motorcycle crashes, you should consider getting higher policy limits on your motorcycle insurance. Overall, many of the most severe motorcycle accidents in the country occur in Florida. Therefore, purchasing a motorcycle insurance policy is important to ensure you are protected in the event of a crash.

To determine whether you need motorcycle insurance, contact a Florida-licensed insurance agent who can assess your needs and guide you on how to get motorcycle insurance. A knowledgeable Florida-licensed insurance agent who represents multiple insurance companies can help you find the best motorcycle insurance that will suit your needs.

You need motorcycle insurance during 3 times of the bike ownership:

  • Buying - insurance is required by the financial institution that is funding the loan for the motorcycle. Without a loan, Florida allows you to register a motorcycle without proof of insurance.

  • Riding - Florida law requires proof of financial responsibility AFTER you get into an accident. This can be done using the surety bond, self-insurance certificate, or through motorcycle insurance. Besides protecting others from your actions, do not forget about the damage that the rider and the bike may receive in an accident.

  • Storing - While the bike may be stored during some parts of the year, besides changing the fluids, you should have it insured. Motorcycle thefts frequently happen while it is parked and not being used daily.

How Does Motorcycle Insurance Work?

In Florida, motorcycle insurance is designed to provide insurance to all types of motorcycles, including standard, sports, touring, cruiser, off-road, and dual-purpose bikes. It works by providing all-year-round coverage for the insured motorcycles and their owners at a cost known as a premium. The premium is determined by the motorcycle insurer. Motorcycle insurance companies in Florida provide several coverage policies so that in the event of a peril, the insured will not have to bear the financial liability alone. Some motorcycle coverage types in Florida are liability coverage, comprehensive coverage, collision coverage, and uninsured/underinsured motorist coverage. Other types of coverage that are specific to only motorcycle insurance are guest passenger liability insurance, accessories or added equipment coverage, carried contents coverage, original equipment manufacturer (OEM) parts coverage, and motorcycle roadside assistance. Each policy has various coverage types and offers different types of protection that protects the insured from the costs of causing an accident while riding a motorcycle.

Before motorcycle insurance is issued, you will need to speak with a knowledgeable Florida-licensed insurance representative to assess your needs and determine what coverage types you need. Motorcycle insurance also requires that you have a deductible, which is part of the factors that will determine your insurance rate. A deductible is the fixed amount of money you agree to pay to repair or replace your motorcycle in the event of a peril covered by your policy before your insurance pays what is left. For instance, if you have a $300 deductible and your bike incurs losses amounting to $1,500, you will be required to pay $300 while your insurer pays the remaining $1,200.

What are the Differences Between Auto Insurance and Motorcycle Insurance?

Auto insurance and motorcycle insurance are quite similar, being that they work in the same way, although they have different coverage limits and requirements. Some of the differences between auto insurance and motorcycle insurance in Florida are listed below:

  • Requirement in Florida: Auto insurance is required for all motorcycles in Florida before the vehicle can be registered by the Florida Department of Highway Safety and Motor Vehicles. On the other hand, motorcycle insurance is not required for riders in Florida; riders can register their bikes with the FLHSMV without proof of insurance. However, note that a rider will be required to have proof of financial responsibility if they get into an accident, so getting motorcycle insurance in Florida is a great idea.

  • Coverage limit: In Florida, the minimum coverage required for auto vehicles is $10,000 in Personal Injury Protection (PIP) and $10,000 in Property Damage Liability (PDL). In addition, vehicles registered as taxis must carry bodily injury liability (BIL) coverage worth at least $125,000 per person, $250,000 per event, and $50,000 for (PDL) coverage. Conversely, the least coverage that motorcycles must carry is $10,000 in proper health insurance or medical payments coverage, $10,000 in bodily injury coverage per person, $20,000 in bodily injury coverage per accident, and $10,000 in property damage liability insurance.

  • Unique add-on coverage types: Motorcycle insurance has more unique add-on coverage types that can be customized to suit the policyholder’s needs along with the standard add-ons that motorists have available to them. However, auto insurance does not have as many add-on coverage types as motorcycle insurance. For example, motorcyclists in Florida have add-on coverage options like transport trailer coverage and coverage for custom accessories, parts, and equipment like saddlebags and chrome.

  • Insurance cost: Although the cost of repairing or replacing vehicles is more than that of motorcycles, motorcycle insurance is generally more expensive than auto insurance because motorcycles are at a higher risk of an accident. However, motorcycle insurance costs in Florida may not be so expensive if the type of motorcycle to be insured is inexpensive, the rider has a good riding record, and is not insuring a sport bike.

  • Passenger Coverage: Passenger coverage is automatically offered with regular auto insurance, but motorcyclists will have to purchase guest passenger liability insurance as an add-on policy to protect their passengers. This is because motorcycles are generally regarded as transportation for only one person, so by default, it only covers the rider. Guest passenger liability insurance typically only applies if the insured is not responsible for the injuries to the passengers.

Is Insurance Required for Annual Motorcycle Inspection?

In Florida, motorcycle insurance is not required for annual motorcycle inspection. However, it is advisable to have motorcycle insurance to be fully protected from financial losses arising from insurable perils.

How Much Damage Does it Take to Total a Motorcycle?

There is an 80 percent rule in Florida. This rule implies that if a motorcycle’s damages exceed 80 percent of its total value, it is considered a total loss, which means that the motorcycle was damaged terribly and is not worth repairing. Therefore, if your motorcycle is totaled, your insurer is obligated to pay you the fair market value, or actual cash value (ACV) of the motorcycle, in addition to sales tax.

What Happens When an Insurance Company Totals a Motorcycle?

An insurance company totals a motorcycle insured in Florida after an adjuster has investigated the damage and found out that the cost of repairing the motorcycle plus the salvage value exceeds its actual cash value (ACV). The actual cash value is the replacement cost plus depreciation. Generally, the ACV is determined by the fair market value, which is the amount a person would pay for the bike if it were in good condition. Some factors considered are the bike's appearance, how well it was maintained, its mileage, history, and local supply and demand.

After an insurance company totals a motorcycle, the insured will sign off on the title and/or bank signs off (if there was a loan). The insurer may then sell off the totaled motorcycle to a salvage yard. However, if the vehicle is rebuildable, it will be sold to dealers and the general public at an auction. This way, the insurer gets to recover some of the money they paid out during the claim. If the bike is completely damaged beyond repair and cannot be rebuilt, the usable parts are stripped for resale to recover some of the insurer's costs and the salvage yard's work. Typically, totaled bikes are rarely rebuildable. Rebuilding a salvage motorcycle is usually not advisable, especially if there is any frame damage.

In Florida, if a person is issued a certificate of destruction after their motorcycle has been totaled, it can not be insured, registered, or legally operated on the streets or highways within the state. Therefore, after a person’s bike has been totaled in Florida and their insurer has paid the required claim, they can then purchase another bike instead or rebuild the totaled one, depending on surrounding circumstances. Note that they can only rebuild the totaled bike if they were not issued a certificate of destruction.

How Much Motorcycle Insurance Do I Need?

Although Florida does not mandate motorcyclists to get motorcycle insurance in Florida, it is necessary to have it, judging by the high rate of motorcycle crashes in the state. However, motorcyclists who choose not to wear helmets while biking must carry at least $10,000 in proper health insurance or medical payments coverage. Getting sufficient medical payments coverage is very important because the chances of a fatality in a motorcycle accident are around 30 times higher than in a car. Based on crash data from the National Highway Transportation Safety Administration (NHTSA), motorcycle accidents have approximately 80% injury or death rate, while car accidents are 20%. In addition to $10,000 bodily injury coverage per person, you need $20,000 bodily injury coverage per accident and $10,000 property damage liability insurance coverage. Florida operates an at-fault system.

The amount of motorcycle insurance you need in Florida is determined by some factors, including:

  • Your motorcycle’s fair market value: It is necessary to purchase insurance for your bike using its fair market value, so in the event of a claim where your motorcycle is totaled, your insurer will be able to compensate you for what you have lost, factoring in depreciation. Insuring your bike for a higher cost than its fair market value will potentially increase your premium unnecessarily.

  • Motorcycle type: Your motorcycle price and type would determine how much insurance you would need and your motorcycle insurance cost. Generally, sport bikes are the most expensive types of motorcycles to insure because of the repair cost. Standards and dual sports are generally the least expensive types to insure, while cruisers and tourers fall somewhere in between.

  • Motorcycle condition: Whether the motorcycle is new or fairly used also determines how much coverage is needed. Generally, a used bike would have depreciated over time and may not require as much coverage as a new bike, which would require full comprehensive and collision coverage, among others.

  • Location (zip code): There are areas in Florida that record higher motorcycle fatalities than other areas. For instance, counties like Hillsborough, Lake, Lee, Miami-Dade, Orange, and Volusia have track records of high rates of motorcycle casualties as recorded by the FLHSMV. If you are based in these counties or any other county with a high motorcycle crash rate, you will need to consider getting beyond the minimum coverage since the chances of getting into a crash are higher.

  • Driving records: If you have a clean driving record, you are less likely to be involved in a crash, so your insurance rate may not be high except if there are other contributing factors, such as you residing in a city with high rates of motorcycle casualties.

  • Safety records: The safety records of bikes affect their insurance costs. For instance, sports bikes with mid-size engines designed to maximize speed and agility do not have great safety records, compared to lightweight bikes that run on a smaller engine. Most people who die in crashes in Florida were riding sports motorcycles when the crash occurred. Hence, the amount of coverage required will be higher than normal.

  • Risk mitigation measures: Implementing risk mitigation measures can reduce the cost of your insurance. For instance, getting a motorcycle helmet with a heads-up display or a smart motorcycle helmet can help reduce your risk of getting into a crash.

  • How often you ride: Your annual mileage determines how much coverage you will need. If you rarely use your bike, you may get the minimum coverage because you are less likely to be involved in a crash, but if you use your bike regularly, then consider getting full coverage.

Florida continually ranks among the top three states in the country for motorcycle-related fatalities. Therefore it is necessary to get the right amount of coverage needed so that you would be fully covered in the event of a claim. Contact a Florida-licensed property insurance agent for the true determination of needs.

How to Compare Motorcycle Insurance Quotes

When comparing motorcycle insurance quotes, paying attention to every detail of the quote is necessary to get the most suitable coverage at the best price possible. You should get at least three insurance quotes so you can choose from multiple coverage options. Below are the steps you should take when comparing motorcycle insurance quotes and things you should pay attention to:

  • Choose the coverage types you need: There are various motorcycle insurance coverage types in Florida, which include:

    • Collision coverage

    • Comprehensive coverage

    • Coverage for custom parts

    • Medical payments coverage

    • Roadside assistance coverage

    • Uninsured/underinsured motorist coverage

    • Motorcycle repair insurance

    • Total loss coverage

Select your coverage types based on your needs. Make sure that you only compare motorcycle insurance quotes with similar coverage types so that your comparison will be accurate.

  • Compare the coverage limits of each quote: Examine the limits for each coverage you select. The coverage limit is the highest amount your insurer will pay to reimburse you for your stolen bike or for repairs or medical bills after your insured motorcycle has been involved in an accident. Higher coverage limits generally translate to higher premiums. The coverage limits for collision and comprehensive coverage are normally up to your motorcycle's actual cash value, and the typical coverage limit for medical payments coverage is $10,000 in Florida.

  • Choose the same deductibles: A deductible is the set amount you are obligated to pay out of pocket toward a claim. It is usually decided before a policy launches. For coverages with deductibles, such as collision and comprehensive coverages, pick the same deductible for each quote you get. In most cases, if you choose higher deductibles, your premiums will be less expensive, but you will have to bear most of the loss if a covered event occurs. However, if you pick a low deductible, your premiums will be more expensive.

Note that the best way to compare motorcycle insurance quotes in Florida is to engage the services of a knowledgeable independent insurance agent. You will need to provide certain details like your motorcycle type and zip code. Licensed insurance agents are familiar with the Florida insurance market and know where and how to get the best motorcycle insurance policies that suit your needs and where you may be able to get a discount.

What Does Motorcycle Insurance Cover? - FAQ

Does Motorcycle Insurance Cover Drops?

Yes, depending on your coverage, motorcycle insurance covers drops if the insured has collision insurance. A motorcycle drop is covered as a roadbed collision in Florida. The cost of repairing a dropped bike is usually not high since most damages that might be incurred are cosmetic issues. Examples of cosmetic issues are a scratched crankcase, bent handlebar, broken/bent mirrors, dented tank, bent foot pegs, scratched/broken fairings, and a scratched exhaust pipe. If your bike drops, closely examine it and check for signs of wear and tear. Also, thoroughly inspect the engine case for signs of damage. It is advisable to thoroughly check your bike before riding it away from the accident scene and if any damages are incurred, contact your insurer. However, suppose the repair cost is not much and can be covered by your deductible or is a little bit above your deductible, and you can conveniently pay for it out of pocket. In that case, you may not need to file a claim.

Does Motorcycle Insurance Cover Helmet?

In Florida, residents must wear helmets until they are 21 years old. If a motorcycle insurance policyholder’s helmet is damaged or stolen, their policy will cover it. Typically motorcycle insurance only offers minimal standard coverage for helmets and gear, and in some cases, helmet coverage is optional but can be added on for an additional fee. Speak to your Florida-licensed insurance agent to get all the information you need on whether your policy covers helmets.

Does Motorcycle Insurance Cover Medical?

Yes, motorcycle insurance covers medical payments. The typical minimum coverage limit for medical payments in Florida is $10,000. So in the event of a crash where bodily injuries are sustained, the insured’s insurance will cover any medical bills incurred within the policy’s limits.

Does Motorcycle Insurance Cover Passengers?

Standard motorcycle insurance policies in Florida do not cover passengers involved in a crash with an insured bike. The medical payments coverage of a bike only covers the insured, but an individual can purchase guest passenger liability coverage, which covers the other riders the insured has with them. Discuss with your Florida-licensed insurance agent to get additional coverage for guest passenger liability.

Does Motorcycle Insurance Cover Rental Bikes?

No. Motorcycle personal insurance policies typically do not cover rental bikes, although some insurance companies in Florida may offer such coverage. Therefore it is advisable to go through your policy document to determine whether rental bikes are covered or, better still, contact the Florida-licensed insurance agent through whom you obtained the policy to know whether it covers rental bikes. You can purchase supplemental liability insurance if your motorcycle policy does not cover rental bikes. This policy can cover you if you’re involved in an accident that causes damage to another bike or injuries to others when using a rental bike. You can also purchase personal accident & personal property coverage and Motorcycle Towing Services (roadside assistance coverage) for maximum protection.

Does Motorcycle Insurance Cover Rental Cars?

No. Motorcycle insurance does not cover rental cars. You will need a standard car insurance policy that includes liability, collision, and comprehensive coverages to get coverage for a rental car.

Does Motorcycle Insurance Cover Theft?

Yes. Motorcycle insurance covers theft if the policy includes comprehensive coverage. Based on a report by the National Insurance Crime Bureau (NICB), there was a 30 percent surge in motorcycle thefts in the United States, with Florida being among the top three states with the highest motorcycle theft rates. Hence, the need for comprehensive theft protection under motorcycle insurance increased significantly.

Does Motorcycle Insurance Cover Towing?

Yes. Motorcycle insurance covers towing if you have motorcycle towing insurance coverage. A standard motorcycle policy does not cover towing, but you can purchase motorcycle towing insurance as an add-on. So if your bike is inoperable and you need to move it, your motorcycle roadside assistance service will cover the towing up to a specified distance as recorded in your policy document. Contact your Florida-licensed insurance agent to verify whether your policy provides this coverage. You can purchase it as additional coverage through your agent if it does not.

Does Motorcycle Insurance Cover Track Days?

Regular motorcycle insurance typically does not cover track days and racing. You must purchase track day insurance as additional coverage if you want to ride your bike during track days. Before participating in track day events, confirm whether you have track day insurance from your Florida-licensed insurance agent. You can also check your policy documents for track day exclusions. Some insurance companies may provide coverage if the insured bike is ridden in an educational setting with an instructor or if the track day event does not require speed or a restricted finish time.

If you rent a bike for a track day, find out whether the bike has coverage for track days. If it does, the insurance will cover the bike in the event of a crash. So if a crash occurs, document details of the crash, including how it happened and damage incurred. This information and photos and damage estimates from a repair shop should be submitted to the insurer, who will assess the incurred damage.

How Much is Motorcycle Insurance in Florida?

The cost of motorcycle insurance is determined by many factors like location, motorcycle type, rider’s age and gender, bike’s annual mileage, etc. These factors can help answer the question, “is insurance for a motorcycle expensive in Florida.” For instance, insuring a supersport bike is more expensive than insuring a regular bike. Generally, the cost of a 50/100/25 liability-only year round coverage in Florida is between $50 and $300, while a full coverage policy with comprehensive and collision insurance can easily cost between $100 and $200 per month.

How Much is Full Coverage Insurance on a Motorcycle in Florida?

The cost of full motorcycle insurance coverage in Florida varies across cities, but the state average is $900. Generally, the average cost of full coverage in the top 10 biggest cities in Florida is as follows:

City Average annual cost
Cape Coral $600 -$860
Fort Lauderdale $800 - $1,100
Hialeah $1200 - $1,530
Jacksonville $700 - $1050
Miami $1,150- $1,530
Orlando $650 - $890
Port St. Lucie $500 - $710
St. Petersburg $550- $790
Tallahassee $580 - $790
Tampa $800 - $950

How Much is Motorcycle Insurance on Average?

The average motorcycle insurance cost in Florida is $900 for full coverage, but for liability-only insurance in Florida, the average cost is $140 yearly. Listed below are the average prices for insurance per the common motorcycle types in Florida:

Motorcycle type Average annual cost for full coverage
Standard Bike (under 500cc) $350 - $700
Sportbike (600cc) $1,300 - $3,200
Sportbike (under 500cc) $500 - $1,200
Touring bikes (over 1,500c) $850 - $1600
Cruiser (under 500CC) $100 - $700
Cruiser (over 500c) $700 - $1,400
Sportbike 1,000cc $1,800 - $4,200
Three-wheel bike $1,200 - $2,200

Is Motorcycle Insurance Monthly or Yearly?

The payment plan for motorcycle insurance is most times determined by the rider looking to purchase insurance for your bike. It could either be monthly or yearly, depending on the rider’s agreement with their insurer. However, yearly payments are done upfront and usually attract some discounts, which is great news to policyholders.

How Can I Lower the Cost of my Motorcycle Insurance Policy?

Generally, the cost of your motorcycle insurance will depend on factors that have to do with you (the rider), the type of bike you purchase, your location, where you get insurance from, and the coverage limits you want. However, you can lower the cost of your insurance in Florida by sourcing for discounts. In some cases, discounts are not automatically made available to you, but here are some steps that can help you become eligible for motorcycle insurance discounts:

  • Multiple policy discount: Bundling your policy with other policies from the same insurance company can make you eligible for up to a 10% discount. For instance, you can bundle your motorcycle insurance with your residential insurance to qualify for a multi-policy discount. Also, if you have more than one motorcycle and you purchase insurance for them from the same insurer, you will be eligible for a discount.

  • Safe rider motorcycle insurance discounts: Maintaining a clean driving and accident-free record can make you eligible for up to a 10% discount.

  • FLHSMV-recognized safe rider course: Taking courses like the Florida Basic Bike Bonding RiderCourse®(BBBRC), Ultimate Bike Bonding RiderCourse® (UBBRC), or any other riders safety courses offered by the FLHSMV may make you eligible for discounts.

  • Upfront payment discount: Generally, when you pay premiums upfront, you can get up to a 10% discount or more, which is why insurance companies encourage upfront payments.

  • Transfer/Renewal discount: You may become eligible for a 10% discount when you have been loyal to one insurer over a period of time by continuously renewing your policy.

  • Referral program discount: Some insurers run referral programs that encourage their clients to refer people to them and then reward the referrers with loyalty discounts for each person (or group of persons) who purchases a policy.

  • Harley-Davidson motorcycle insurance discount: This brand-specific insurance company offers various discounts for different reasons. For instance, persons who ride Harley-Davidson motorcycles are eligible for discounts from the insurance company. The company also provides discounts for riders who take their H-D Riding Academy new rider course. Likewise, riders who are members of the Harley Owners Group (HOG.) are eligible for discounts. In addition, Harley-Davidson offers military discounts, and discounts for a motorcycle endorsement on your driver's license, paying premiums promptly, owning multiple bikes, and using anti-theft devices.

  • Rider Club Member discounts: Motorcycle rider groups and clubs frequently receive discounts from the affiliated insurers.

  • Theft-recovery device: If you install an anti-theft device on your bike, it may make you eligible for motorcycle discounts since you are mitigating your bike’s theft risk.

Where to Find Cheap Motorcycle Insurance in Florida?

The best way to find affordable motorcycle insurance in Florida is by comparing policies with the help of an independent Florida-licensed insurance agent. Your agent can help you assess your needs based on your location (zip code), motorcycle type, and other related factors and get you multiple insurance quotes tailored to your needs. This enables you to pick the most suitable motorcycle insurance quote with the best price without sacrificing price for quality.

How Much is Motorcycle Insurance on a 3-Wheel Motorcycle?

The cost of insuring a three-wheeler motorcycle averages at $1,200 for full coverage per year, but liability-only coverage costs around $400 per year for Florida’s minimum motorcycle liability coverage. This includes $10,000 bodily injury coverage per person, $20,000 bodily injury coverage per accident, and $10,000 property damage liability insurance.

What is the Best Motorcycle Insurance?

The best motorcycle insurance any rider can buy in Florida is motorcycle comprehensive insurance coverage, especially if the bike costs more than $5,000 or is a classic. Comprehensive insurance is considered the best motorcycle insurance in Florida because it goes beyond providing coverage for damage done to a third party’s bike. It also covers damages done to your bike in accidents that did not result from a collision. It covers theft, damage caused by vandalism or falling objects (like a tree or hail), and natural sources (e.g., fire, flood, bad weather). With comprehensive insurance, motorcycle riders who reside in areas with high rates of motorcycle casualties like Hillsborough, Miami-Dade, or Orange are covered because if a crash occurs, they will receive compensation for medical treatment and their bike damage. The table below shows a ranking from the best to worst motorcycle insurance in Florida:

Rank Motorcycle Coverage Type Features
1 Comprehensive coverage
  • Provides coverage for medical bills and property damage caused by accidents other than collision
  • Insures against third-party damage and damage to rider’s bike
  • Covers traffic accidents and non-traffic accidents
  • Covers theft, damage caused by vandalism, animals, riot, or falling objects (like a tree or hail), and natural sources (e.g., fire, flood, bad weather).
2 Collision coverage
  • Insures against only collision accidents regardless of who is at fault
  • Covers only collision damage to your bike
  • Covers bike drops
  • Does not cover non traffic accidents
3 Liability-only coverage
  • Insures against only at-fault accidents
  • Covers bodily injury and property damage in an at-fault accident
  • Does not cover damage to your motorcycle
  • Does not cover non traffic accidents
4 Uninsured/underinsured motorist coverage
  • Provides bodily injury and property damage coverage if hit by someone who doesn't have insurance or sufficient coverage
5 Total loss coverage
  • Provides a new bike if the insured’s bike is damaged beyond repair and is totaled.
6 Motorcycle repair insurance
  • Covers only motorcycle repair within the policy’s limits
7 Coverage for custom parts
  • Covers the provision of motorcycle spare parts from the factory within the policy’s limits when a claim is filed
8 Roadside assistance coverage
  • Provides access to emergency assistance when an insured bike breaks down by the road due to a flat tire, mechanical breakdown, dead battery, etc.

10 Ways to Save Money on Motorcycle Insurance

Saving costs on motorcycle insurance in Florida, entails exploiting opportunities available to you, some of which include:

  1. Taking a state-recognized safe rider course: The Florida Department of Highway Safety and Motor Vehicles has several courses that train motorcycle riders on safe riding to prevent accidents. Taking some of these courses may help you save money on motorcycle insurance because insurance companies will consider you low-risk compared to riders who have not taken any safe rider course. Some of these courses are the Florida Basic Bike Bonding RiderCourse® (BBBRC), Ultimate Bike Bonding RiderCourse® (UBBRC), Advanced RiderCourse® (ARC), etc.

  2. Bundling motorcycle insurance policy other policies from the same insurance company: Insurers usually encourage clients to bundle policies, so you can contact the insurer that sold your auto insurance or residential insurance to you, and find out whether they have motorcycle insurance. If you have multiple bikes, you can save cost by insuring them under the same motorcycle policy

  3. Comparing quotes: Compare three to five motorcycle insurance quotes in Florida that have the same coverage types, coverage limits, and deductibles before choosing one with the best price. In doing this, make sure you do not sacrifice quality for price. You can contact a knowledgeable independent insurance agent to help you with this. You can also use third-party sites to compare free motorcycle insurance quotes, but you will need to provide some details, including your zip code and motorcycle type.

  4. Join a Rider Club: Florida has several rider clubs that you can join to get a discount. Belonging to any of the recognized rider clubs in Florida may attract a discount and help you get decent recommendations of affordable policies.

  5. Increase your deductible. A deductible is the amount of money you agree to pay out of pocket whenever there is a claim. The deductible is a major determinant of how much you will be charged for your coverage. Hence, your insurance cost will be lower if your deductible is high. You should only consider raising your deductible if the amount of emergency funds you can afford to pay will be sufficient to conveniently cover the costs of repairs for your bike if a perilous event occurs.

  6. Secure your bike and install safety features: With 7.5 thefts per 1,000 registered motorcycles in the state, Florida is among the top 10 states with high rates of thefts. Therefore securing your bike using motorcycle storage pods set in secured areas and installing anti-theft devices like motorcycle tracking systems, disabling devices, U-locks, disc locks, etc., can protect your bike from theft. In addition, taking safety precautions when riding, like wearing proper clothing and motorcycle safety gear, including helmets and jackets or vests, protects you in the event of a crash. Doing this will, in turn, help you save some money on your motorcycle insurance policy, as you will be considered low risk.

  7. Maintaining a good driving record: A good driving record (remaining ticket and accident-free) is proof that you are not a rough rider, which means the chances of you getting into a crash are low. Insurers typically use driving records to determine the cost of motorcycle insurance, so your premium will be relatively low if you have a good driving record. You may also be eligible for a discounted rate if you are a “preferred operator,” which means you have been a motorcycle rider for a while and have a clean record.

  8. Paying your premium upfront: Paying your annual premiums upfront most times attracts a discounted rate.

  9. Get the right motorcycle coverage: Motorcycle riders often purchase coverages they do not need. To avoid this, contact a Florida-licensed insurance agent so they can assess your needs, determine the coverage types that you need, and answer any motorcycle insurance faqs you may have. For instance, if your bike has significantly depreciated over time and looks old, you may no longer need to keep your comprehensive coverage. Also, let your insurer know how often you use your bike, especially if you only use it a few times a year. For instance, you can get a policy limiting the miles you can drive each year (e.g., 2,000 miles). This will be significantly less expensive than paying the same premium with someone who rides 20,000 miles annually.

  10. Get discounts: There are various motorcycle insurance discounts available to riders in Florida. These discounts can help you save money on your insurance. Some available discounts are loyalty discounts, safe rider discounts, renewal discounts, referral program discounts, etc. You can contact your insurance agent to know the discounts available to you.

You may also contact a knowledgeable Florida-licensed insurance agent to determine other ways to save money on your motorcycle insurance.

How Do I Get the Best Motorcycle Quotes?

You can get the best quotes by contacting an independent Florida-licensed insurance agent who can help you get multiple quotes tailored to your needs. You can also get the best motorcycle insurance quote through bundling, which can be done by your current insurer. In addition, some third-party websites offer free motorcycle insurance quotes online, but you will need to provide some details, including your zip code and motorcycle type. Still, it is important to seek the help of a Florida-licensed insurance agent before going ahead with a free motorcycle insurance quote obtained online. The agent can suggest the insurers that may be offering specialized pricing and coverage specifically tailored for motorcyclists in your area.

Why is Motorcycle Insurance Important?

Motorcycle insurance is important for various reasons, including:

  • It ensures financial protection in the event of a motorcycle crash.

  • It pays for repairs or replacement of the insured bike and other properties damaged in the crash within the policy’s limits.

  • It pays for the medical expenses of persons injured in a motorcycle accident.

  • It covers replacement costs if your motorcycle gets stolen or totaled, depending on your coverage policy.

  • It may provide compensation for an insured, or the victim’s lost wages when they miss work as a result of a motorcycle accident.

  • It provides you with peace of mind knowing that you have protection in the event of a perilous event involving your bike.

Who Has the Best Motorcycle Insurance?

Florida has many good motorcycle insurers based on the quality of services offered at relatively affordable rates. Most of these companies also provide high-quality customer services. However, based on factors like cost, coverage, and customer ratings, the best three motorcycle insurers in Florida are Progressive, Geico, and Markel.