As the popularity of motorcycles and other two-wheeled vehicles increases, many new riders are asking more questions about their insurance coverage. Motorcycle ownership increased an astounding 75 percent between 1998 and 2007, according to registration records. Unfortunately, the growth in motorcycle sales and registrations in the United States has been accompanied by an increase in accidents, property losses, injuries and fatalities involving motorcycles.

According to the U.S. Department of Transportation, from 1997 to 2007, the annual number of motorcyclist fatalities increased from 2,116 to 5,154 (a 144 percent increase), and the estimated number of motorcyclist injuries increased from 53,000 to 103,000 (a 94 percent increase). These statistics highlight the need for all riders to carry comprehensive motorcycle insurance.

Rates for motorcycle policies vary from person to person, state to state, and bike to bike. A premium for an experienced motorcyclist riding a commuter-type motorcycle may be vastly different from a young rider on a sport model.

Some states require certain types of coverage, while others do not. The two types of coverage you should always make sure you have, however, are Uninsured/Underinsured Motorist Coverage (at least $100,000 per person/$300,000 per occurrence) and Bodily Injury Liability (at least $100,000 per person/$300,000 per occurrence). Many riders carry only the state minimum liability insurance as motorcycles can be less expensive to repair than cars or trucks. However, state minimum standards of liability insurance have not been updated in nearly 30 years, leaving significant gaps in coverage when injuries happen. Unfortunately, when riders wreck their bikes, in more than 80 percent of all crashes, they also sustain injuries to their person.

You can always save on your premiums by belonging to a reputable riding club, completing a motorcycle safety course, riding a safer bike, have a clean driving record and leaving your bike in a locked garage whenever it is not in use.

You can also contact a knowledgeable Financial Assurance agent, who can help locate you several quotes from a variety of insurance companies. We can find you a policy that offers the best coverage at the most affordable rates. No matter how often you ride, our agents can help you find the perfect motorcycle insurance policy that meets your needs and budget.