Among all the states in the US, Florida, along with Montana, Washington, and New Hampshire, do not require riders to have motorcycle insurance. But no one can discount the importance of having motorcycle insurance, considering the possible financial dent that accidents can cost you. It is a form of protection that can save you from the unexpected and maybe the worst-case scenario. So how much is motorcycle insurance in Florida?
The Cost of Motorcycle Insurance in Florida
Before getting motorcycle insurance, you must first decide what you want to be covered for. Your choices will be a liability-only coverage where only the damages on the third party will be covered for, or a comprehensive or full coverage where even your own damages will be covered.
There are also factors affecting the total cost of your motorcycle insurance. The coverage amount is one, where you can choose a 100% liability coverage, 50% or 25%. The make and model of your motorcycle will also be considered. It’s best to reach out to an insurance provider to check how much your insurance plan will cost. Below are the other factors that will affect the overall rate of your insurance plan.
Rider Profile
Age, gender, marital status, experience, driving history, and credit score all form part of your profile. If you are under 25 years old, you will have higher insurance rates. Women are charged less than men and married riders also have more affordable rates than single riders. Experienced riders also pay less. Any road accidents or violation records you have will also affect your final insurance rate.
Motorcycle Make and Brand
Different motorcycle makes are rated differently. Touring bikes cost less to insure than sports bikes. The cost of the motorcycle itself and the specs also play a part in the overall insurance rate.
Riding Profile
Will you use it on a daily basis or just ride for leisure? How often you use your motorcycle will also affect your insurance rate.
Motorcycle Insurance Options in Florida
Remember that choosing the most affordable insurance plan will not provide you with everything you might need, which is not always the best option. Others choose to get separate plans for different needs. Whatever your choice is, just make sure to have at least a personal injury protection plan. A decent coverage also includes a $10,000 and a $20,000 bodily injury liability coverage per person and per accident, respectively, and a $10,000 property damage liability.
Liability-Only Insurance Coverage
If you don’t want to spend much on your insurance, your option will be to get a liability-only insurance policy with minimum coverage. This will cover for bodily injuries and any property damages you caused to others. Rates start at $58 per year, depending on your chosen insurance provider.
Collision Insurance Coverage
This covers only the damages caused by collision accidents, and can pay for both parties’ damages depending on the plan you will avail.
Full or Comprehensive Insurance Coverage
This is the better option, especially if your budget permits. Since it offers comprehensive coverage, it includes collision accidents. It will even pay for motorcycle theft, and other non-collision damages caused by fire or vandalism. For a comprehensive insurance plan, the most affordable in the market costs at least $200 per year.
Uninsured or Underinsured Motorist Insurance Coverage
Since motorcycle insurance is not required in Florida, the chances of getting into an accident with someone uninsured or underinsured is higher. If you have an uninsured or underinsured motorist insurance plan, you can reimburse for the cost of damages regardless whose fault it is.
Motorcycle Parts, Accessories, and Modifications Insurance Coverage
There are also insurance plans that cover and pay for damages, repairs and replacements of helmets, jackets, sidecars and other motorcycle parts and accessories declared and included in the insurance contract. This can save you money in the long run.
The Consequence of Not Having a Motorcycle Insurance in Florida
Riders choosing not to have motorcycle insurance are prone to more damage-related lawsuits than those who are insured. In getting a policy, there is no minimum coverage needed because motorcycle insurance is not required under Florida’s state law. The question you need to ask yourself is, who do you want to pay for all the possible cost of damages, you or the insurance provider? We bet it’s the latter
What to Do in Case of an Accident
The best thing to do is to know someone well versed in a situation like this, someone like a motorcycle accident attorney. They can provide you with expert tips and recommendations on how to best approach the matter. Here are some tips on whom to call and what to do after a motorcycle accident.
Call for the Police, Fire Rescue or Medical Assistance
To properly assess the situation and all other information, you need to call the police. They will be the ones to take statements from all parties involved, including witnesses, and they will issue a citation on who’s at fault.
If there are injuries sustained from the accident, the fire rescue team should be there to provide immediate medical assistance. But not all damages and injuries can be seen right after the accident, so it will be best to go to a hospital and undergo a more thorough medical evaluation.
Take Pictures and Document Everything
Take pictures if you can and if it is safe to do so. Consider taking pictures of the whole scene, injuries sustained, damages of both vehicles, road signages, and other details that might come in handy for documenting the accident. Injuries that come out after the accident should also be documented, like bruises and other accident-related injuries.
Do not post pictures or rant on social media. Wait for the police and the official statements and reports to come out. If you have a motorcycle accident lawyer, let them do all the talking for you. They can draft a statement and will help you all throughout the process, from the day of the accident until all settlements needed have been finalized and claimed.
Hire Warner and Warner Attorneys at Law
Warner and Warner is one of Orlando’s top-rated injury law firms. Call us right now at 321 450 7928 or contact us through our form.
