Which Motorcycle Models Cost More or Less to Insure in Louisiana?
Many motorcyclists feel very fortunate to live in Louisiana, where it can feel like spring and summer for many months out of the year. It’s great riding weather. No matter what time of the year you choose to hop on your bike and get the wind in your hair, you’ll need motorcycle insurance in order to be legal on the roads.
If you have heard stories about how much motorcycle insurance costs for different kinds of bikes, let’s set the record straight. Here are the basics that you need to know about which motorcycle models cost more or less to insure.
Do I Need Motorcycle Insurance in LA?
If you own a motorcycle, yes. Liability insurance is required on motorcycles just like it is required on cars. For example, the minimum requirements for automobile and motorcycle insurance in Louisiana are:
- $15,000 for injury to one person
- $30,000 total for bodily injury
- $25,000 for property damage
This means that you are legally required to carry motorcycle insurance for the above amounts. If you cause an accident, your insurance company will pay up to the dollar limit of your policies for injuries and damages you cause to others.
If your motorcycle still has a loan against it, your lender may require collision insurance and comprehensive insurance, as well. These two types of insurance, plus liability, are often referred to as full coverage insurance.
Unless you want to risk losing your bike in the event of an accident, you may want to consider full coverage insurance anyway. That way, in the event of an accident, you would have coverage up to the amount of the policy to fix your bike. The only payment that would come out of your pocket would be the amount of the deductible on the policy. All it could take is one wrong move while riding in the rain to cost you your bike if you don’t have full coverage insurance.
Is It True That Cooler Bikes Cost More to Insure in Louisiana?
Yes, if by cooler bikes you mean those that cost more or are built for speed. The bottom line is that the less power your bike has, the less it will cost you in insurance premiums. Smaller motorcycles are usually the most affordable to insure as long as they have small engines. Just like a Corvette would cost more in car insurance premiums than a Honda Civic, a sportier, faster motorcycle will cost more to insure than a more basic model. Insurance companies work from statistics, and they know that if you have the ability for more speed, you may feel the “need for speed,” and that is, statistically speaking, more likely to lead to an accident.
If you purchased a Harley Davidson V-Rod with its 122HP engine, you would pay less to insure it than if you purchased the Suzuki Hayabusa, which has a 1340cc engine (about 130HP). Why? The Suzuki can go almost 200 mph, while the Harley has a top speed of around 110 mph.
While not everyone considers sportbikes to be motorcycles, by and large, insurance companies do. All motorcycles and sportbikes are classified as motorcycles. If you are shopping for a bike, get some quotes in advance and take your potential insurance costs into account when purchasing a motorcycle.
The bottom line is the more you do your homework, the happier you will be with both your new motorcycle and the cost of its insurance.
I Am a Safe Rider. Can I Pay Less for My Motorcycle Insurance in Louisiana?
Yes! The better your driving record is, the less your insurance will cost. For example, if you have never had a speeding ticket or an accident, you will be able to get more affordable motorcycle insurance than if you have had a few tickets. Because of your good driving record, you can find the cheapest motorcycle insurance in Louisiana.
Your good record will probably also give you a good motorcycle insurance discount.
Make sure and talk with an insurance professional who can guide you through the process of finding the best motorcycle insurance for you. Talk with them about your bike, what type of helmet you wear, the weather you ride in, and any safety classes you have taken. The more they know about you and your riding habits, the better they will be able to help you. And if you do have a few blemishes on your record, no worries! There are insurance professionals who work specifically with people in your situation to help you get back on the road and riding safely with the right insurance for you.