Texas is a great state for many reasons. As the second-largest state by land size as well as population, it makes sense that the Lone Star State is home to nearly 700,000 miles of road. This amount of space and the unique landscapes and diverse cultures found throughout make it any rider's dream. With such riding conditions, it’s no wonder that according to the Texas Department of Transportation (TxDOT), there are almost 420,000 registered motorcycles within the state.
If you ride, you know the thrill of hitting the open road also comes with the responsibility of maintaining your bike and staying safe while riding. In 2020, the state of Texas would endure 7,481 motorcycle accidents resulting in 1,856 motorcyclists suffering severe injuries and a total of 482 deaths.
Motorcycle accidents can come in many different forms. Whether you are hit by another vehicle, crash due to road conditions, or experience an accident while enjoying your ATV, you’ll need protection. As a rider, you’ll want to consider the aftermath of such accidents and how you’ll restore your losses. There is property damage, medical bills, legal expenses, and liability to consider. Motorcycle insurance can help mitigate these expenses and it can even help you pay for repairs and maintain your bike.
Do You Have to Have Motorcycle Insurance in Texas?
Yes, motorcycle insurance is a requirement for all drivers by law. This includes motorcycles, mopeds, cruisers, scooters, etc. The requirement is to protect everyone on the road from the financial hardships accidents may cause. Staying legal in Texas boils down to maintaining these minimal mandatory coverages:
- $30,000 in bodily injury liability coverage per person.
- $60,000 in bodily injury liability coverage per accident.
- $25,000 in property damage liability insurance.
Motorcycle Insurance Coverages
The minimal coverage for motorcycle coverage is important, but it may leave you with coverage gaps depending on a variety of scenarios. Minimal coverage is used to help drivers who are at fault restore another party’s loss but to protect yourself, passengers, and your property, you’ll likely need additional coverage. Take a moment to explore these options below:
- Personal Injury Protection (PIP) provides reimbursement for costs associated with medical expenses you, your passengers, or a pedestrian may incur after an accident. PIP coverage can be used to mitigate these expenses without any regard to who is at fault for the accident.
- Collision Coverage will help you restore the damage to your motorcycle after an accident with another vehicle or object regardless of fault. It is important to remember that collision coverage comes with a deductible that must be met before any reimbursement is paid for your claim. The higher your deductible, the lower your premium will be, and vice versa.
- Comprehensive Coverage is protection for your motorcycle for incidents not involving an accident. Common examples include theft, fire, vandalism, and collisions with animals. Similar to collision coverage, your comprehensive coverage will come with a separate deductible that must be met before receiving compensation after a claim.
- Uninsured/Underinsured Motorist Coverage provides compensation for you if you are involved in an accident that is not your fault or if the at-fault party does not have enough coverage. You can use these payments to help restore your losses related to your property and medical expenses.
- Motorcycle Roadside Assistance Coverage can provide you with small repairs and assistance that may otherwise make your motorcycle incapable of operating while out on the road. This coverage is for minor repairs which can help you get your bike back on the road safely on the same trip.
- Towing and Labor Coverage is similar to roadside assistance, but offers you the ability to tow your motorcycle and may cover some labor to restore your motorcycle. Your coverage kicks in when your motorcycle is inoperable and can help you get it to a place that can restore your loss, likely at a later time.
- Added Equipment Coverage is protection for the additional accessories and equipment on your motorcycle such as a custom seat.
- Gap Coverage will help you pay off the remaining balance of a loaned or leased motorcycle in the event it is stolen. Some providers offer this coverage, but it is required that both collision and comprehensive coverages are also a part of your policy to be eligible.
There are many factors to consider when looking into your coverage needs. How you use your motorcycle and the risks you are exposed to will play a big role in picking the right options. Talking with an agent can help you best understand your best options to avoid both overpaying and riding underinsured.
Motorcycle Insurance Cost in Texas
According to Business Insider, as a rider in Texas, you can expect to pay $1,152.15 per year for your motorcycle insurance premium. This benchmark is a great snapshot of what to expect on average, but there is a lot that goes into constructing your premium on an individual level.
The cost of your motorcycle insurance will vary from rider to rider. This is because each motorcycle insurance brand will assess the amount of risk you pose as a customer and create a premium that reflects taking on that risk to insure you. For example, if you are a rider who has a lot of speeding violations and accident claims, you’ll find yourself paying more than a rider with a cleaner driving record and claims history.
There are many different factors that go into calculating your motorcycle insurance premium. Some of these factors you can control, while others are not. Learn more about some of the considerations your motorcycle insurance provider will assess when determining your rate:
- Your age.
- Where you live.
- Your driving record.
- Your claims history.
- The age and type of motorcycle you are looking to insure.
- The number of motorcycles you insure.
- The number of coverages you are looking to enroll in.
- How your motorcycle is stored.
- Your motorcycle’s usage.
- Additional personal factors such as your credit score.
Each of these factors is some of the most common factors looked at by motorcycle insurance providers; however, rates will still differ from brand to brand. This is because not only is each rider different but so too are the needs of each rider. On top of this, each motorcycle insurance brand will assess these factors differently based on their own measures and calculations. The best way to determine your motorcycle insurance rate is to comparison shop among various insurance brands to find the best price for your needs.
Compare Your Motorcycle Insurance Rates
If you have a motorcycle and need protection, save time, hassle, and money by letting the experts at Freedom Insurance Group shop for your coverage needs. We help riders throughout Texas save 40% on average by comparing your coverage needs among our 25+ top-rated insurance providers. By doing so, we can provide you with the protection you require at the lowest available price. Contact us today to stay protected for less!
FAQs About Motorcycle Insurance
If you have a question about your motorcycle insurance coverage, feel free to ask an agent or give us a call. Some questions, however, come up more than others. Use our FAQ section as an additional resource to better understand how motorcycle insurance protects you.
Yes, many companies offer coverage for your ATV.
A standard motorcycle insurance policy is unlikely to cover your passengers in the event of an accident.
Discounts vary from carrier to carrier and there are a wide variety of options for riders. The best way to know which motorcycle insurance discounts are right for you is to examine your coverage needs and compare your coverage among various brands. These are some of the most common discounts available to riders:
- Multi-policy discounts
- Bundling discounts
- Military and organizational discounts
- Age-based discounts
- Misc. discounts depending on the options given by your provider
Speak with an agent about which discounts you qualify for to save more on your coverage.