Many motorbike owners are concerned about where to insure their vehicles. Because of the high-performance nature of sportbikes, this worry can be especially perplexing. Sportbikes, also referred to as “supersports” by the insurance industry, are the most expensive motorcycles to insure.
Insurers have discovered that these bikes are commonly stolen and readily destroyed in an accident, and that they have the highest accident and mortality rates of any class, according to the Highway Loss Data Institute (HLDI). All of these factors can conspire to make insuring a sportbike unreasonably expensive. However, there are a variety of pricing available, with some firms being more accommodating of sport riders than others. Furthermore, you can take a number of methods to reduce your rates, sometimes considerably.
The Basics:What is a Sportbike/Supersport?
“On paved roads, a motorcycle that is optimized for speed, acceleration, braking, and handling.”
This is accomplished by combining the rider’s posture, the positioning of the engine and other heavy components, and the geometry of the bike. These characteristics determine how a bike will respond during acceleration, braking, and cornering, as well as structural integrity and chassis rigidity.
A slightly different definition is provided by the Insurance Institute for Highway Safety (IIHS):
“Supersports are vehicles based on racing platforms that have been modified for use on the highway and offered to the general public.”
- These are typically entry-level sportbikes with engine displacements of less than 500cc. Honda’s CBR250R and CBR300R, Kawasaki’s Ninja 250R and 300, Yamaha’s YZF-R3, and KTM’s RC390 are all popular examples. They’re the cheapest sportbikes to insure, and they’re the greatest bet for new riders who want to go fast.
- Middleweight: These are bikes with displacements between 600 and 750cc, with the four-cylinder 600cc “Supersport” class dominating the category. The Honda CBR600, Kawasaki Ninja ZX-6R, Suzuki GSX-R600 and 750, and Yamaha R6 are all perennial favorites. These motorcycles often have 100+ horsepower and weigh around 400 pounds. This class has a significant increase in insurance rates.
- The Yamaha R1, Kawasaki ZX-10R, Honda CBR1000RR, Ducati Panigale, and BMW S1000RR are examples of superbikes, sometimes known as the liter-class or simply “literbikes.” These sportbikes with 1000cc engines are exemplified by the Yamaha R1, Kawasaki ZX-10R, Honda CBR1000RR, Ducati Panigale, and BMW S1000RR.
- Hyperbike: Also known as “hypersport,” these vehicles have a displacement of 1000cc or more and are not constructed to racing class specifications like supersports and superbikes. The Suzuki Hayabusa is the most well-known, but there are also the Honda Blackbird, Kawasaki ZX14-R, BMW K1200R, and Kawasaki H2.
Supersport Insurance:What Coverage is Needed?
Because of the nature of a sport bike, insurance might be costly. In fact, a young rider insuring a 600cc bike might have to pay an insurance rate that is comparable to the vehicle’s monthly payment! The cost may lead a rider to look for ways to save money at the expense of coverage. That might be a tremendous blunder.
Let’s take a look at what each sort of sport bike insurance protects you from so you can figure out what you need.
Bodily injury liability coverage pays for another driver’s medical bills and lost wages if they are hurt in an accident in which you are at fault. This also applies to passengers on your motorcycle.
If you are found at fault in an accident, property damage liability coverage pays for the harm you cause to someone else’s property. Vehicles, businesses, residences, and other structures are all covered.
Medical payments: this one covers x-rays, ambulances, and other medical expenses, but only to the extent that they are deemed reasonable and essential.
Personal injury protection is for your and your family’s safety. It can be used to pay for medical bills, lost wages, or funeral costs.
Collision coverage: it’s pretty self-explanatory what this covers. If you strike a car, motorcycle, tree, or building, you’ll need this coverage to repair your bike. This is strongly advised for sport motorcyclists, as even a minor fall can result in hundreds, if not thousands, of dollars in damage to a modern sportbike’s fairings. Sport bikes have been reported to be totalled as a result of a single drop, simply because the damage to the plastics is so costly to repair. It’s no surprise that the streetfighter movement began in the UK with young riders removing broken fairings they couldn’t afford to replace.
Comprehensive coverage is for those annoying objects that aren’t the result of an accident. Theft, floods, wind, and vandalism are all covered under this policy. What are known as “acts of God” and criminal conduct, respectively. It usually covers repair costs up to the value of your bike.
Uninsured/underinsured motorist bodily injury, towing and labor, rental reimbursement, motorbike and off-road vehicle transport trailer damage, gap insurance, and coverage for optional or added equipment are examples of additional coverages.
Sport Bike Insurance Rates:What to Expect?
The cost of insurance is determined by a number of factors. One of these variables is the type of bicycle. Using a fake rider is the only way to acquire an accurate average of insurance prices. Our rider was a 30-year-old man from Los Angeles who has been licensed for ten years and has a spotless DMV record. The Suzuki Hayabusa is the most costly sport bike to insure under those conditions. The Honda CB500X/F is the least priced. Here are some of the most important considerations:
As you can see, estimating your rates is quite tough, however we polled a few sport riders from across the country.
How much does motorcycle insurance cost?
In the United States, the average cost of motorcycle insurance is $721 per year, although prices can vary by more than 150 percent depending on where you live.
How much does it cost to insure a dirt bike?
What Does Bicycle Insurance Cost? In general, dirt bike insurance is less expensive than motorcycle insurance. For dirt bike insurance, Geico offers regular personal injury and property damage liability coverage for as little as $99 per year, whereas motorcycle insurance can cost hundreds of dollars.
Do you need insurance for off-road bike?
The short answer is that you do need insurance if you ride your off-road bike somewhere other than on private land. Even if you merely ride your dirt bike on public roads to go to a track or field, it’s a legal requirement that you obtain third-party liability insurance.
In reality, even riders who never ride on a public road might sometimes profit from an off-road motorcycle insurance policy. You’re fully responsible for the costs of any accident that damages your bike, someone else’s property, or causes harm if you don’t have insurance.
Do you have to buy insurance for a dirt bike?
By all accounts, a dirt bike is a motorbike, and all motorcycles require insurance. Dirt bikes, on the other hand, are used on off-road terrain. Off-road dirt motorcycles aren’t even legal on city streets. Accidents happen in both directions, and unless specifically stated, your auto insurance or homeowners policy will not cover your bike or yourself.
Why is sportbike insurance so expensive?
Motorcycle insurance, like vehicle insurance, includes state minimum liability requirements as well as the option to acquire additional coverage. Motorcycle insurance, like auto insurance, is more expensive when you add more types of coverage and reduce the deductibles you’ll have to pay if you’re in an accident.
What motorcycle has cheapest insurance?
Honda, Kawasaki, and Yamaha make some of the most affordable sportbikes. In general, the more lightweight a motorcycle is, the less expensive it is to insure. This is due to the fact that it has a smaller engine and can’t move as quickly, resulting in lower claim expenses and savings for insurance companies.
Why is motorcycle insurance so cheap?
Motorcycles are less expensive to insure than vehicles for several reasons. When determining premiums, insurance firms consider elements such as safety ratings. Cars are much more expensive to insure than motorcycles, despite the fact that they are typically regarded safer to drive.
Why is full coverage motorcycle insurance so expensive?
So, what elements can influence the price of your motorcycle insurance? There are various aspects to consider. Let’s take a look at each one individually.
- Motorcycle insurance is generally more expensive in northern states, with a few exceptions. This is due to the fact that the riding season is shorter in those states. Riding season is practically 365 days a year in Southern California, for example. In North Dakota, on the other hand, your bike will spend the majority of the year in your garage, where it will be safe.
- Age and riding experience Younger motorcyclists, like automobile drivers, will pay more for insurance. Riding experience has a role as well. As a result, a 50-year-old first-time biker will pay more than a 22-year-old with four years of expertise.
- Speeding and traffic tickets – If you have a history of traffic offences, your insurance will be more expensive. The more violations you have and the more serious they are, the higher your rates will be. However, most infractions are expunged from your record after three years. If you follow the rules of the road, you’ll get the best motorbike insurance prices.
- History of accidents and claims – Your insurance rates will rise as a result of a car accident. Even claims that aren’t tied to an accident might raise your premiums. Accidents and claims will, in most situations, disappear from your record after seven years.
- Vehicle usage – Most insurance companies will consider how you use your motorcycle. You might expect to pay less as a weekend rider than someone who commutes by bike.
- Your prices will also be affected by the kind and engine size of your bike. The bigger the engine, the more you’ll spend for insurance. Sportbikes will cost more to insure than cruisers and touring bikes of the same displacement. Furthermore, higher-priced bikes will cost more to insure.
- Type of coverage – Your costs will vary depending on the type of coverage you get. A state minimum policy will be less expensive than a comprehensive policy with high limits of coverage. A large deductible can also save you money, but you’ll have to pay more if you need to file a claim.
- Credit – When giving you a quote, many insurance providers, such as GEICO motorcycle insurance, take your credit rating into account. However, don’t worry about shopping around; an insurance quotation isn’t considered a hard check, so getting numerous estimates won’t harm your credit score.