Cover Your Rear: The Best Motorcycle Insurance

Somewhere between the start and finish of today's route, two riders wait idling at a red light. In front of them, a black SUV watches for the green. Behind them, another car. They're all just waiting to get on with it, not knowing they might soon need to call one of their motorcycle insurance company.

With an unexpected crescendo, a hard-braking tire screech arrives at 5 o'clock (rear right). One rider shouts to the other in slow motion: "mmmooooove uuuuup!" but it's too late. A well-executed defensive maneuver isn't enough as that other rider falls to the pavement.

That other rider is my wife, Margaret Dean, a skilled motorcyclist and instructor who went through all of the correct motions to evade. At that time, she was still an insurance underwriter and with her role, we had done our research on the best motorcycle insurance companies. However, nobody plans for the day they'll actually have to use it.

Fortunately, Mrs. Dean was okay. The only tears to be shed would be for her once-beautiful Honda Hawk GT, a rare bird that also happened to be my track toy. It's an "ouch" that comes with fateful gratitude.

Yes, we have excellent motorcycle insurance. We didn't need it that day since the driver at fault also had good insurance. Her coverage brought our Hawk GT back to "better than before" condition.

But what if it hadn't?

No matter what level of safe riding we aim for, everyone should have reliable motorcycle insurance. Finding the best motorcycle insurance companies is just a matter of taking the right steps, which involves preparation so that better pricing and coverage become clear. Follow the six steps below to find your perfect match.

1. Find The Best Insurance Companies

First, we need contenders! When it's time for phone calls, we want to know whoever we're calling is actually worth our time. That starts with isolating five to ten insurance companies for their established financial strength using go-to investment outlets like Forbes, Market Watch, and Nerd Wallet.

Yet, even the customer base of a sturdy insurance company will fluctuate. That impacts new customer sign-ups on a day-to-day, case-by-case basis. As a result, calling each of our possibilities can feel like a game of whack-a-mole.

The solution? Inform them early in the convo that you're shopping around. THAT is some pro-level negotiation right there. We're not angrily trying to pit the best motorcycle insurance companies against their competition, we're just letting them know that we're keeping our options open.

Before the phone calls, however, we need to do some prep work. Open up a blank document or text file for note-taking. Make a list of reputable companies here with a little space under each so you can record your findings and conversations. We'll eventually edit, adjust, and use them to screen our prospects. Weighing data from one call to the next will help us arrange everything in priority order. Data is everything.

2. Find The Best Motorcycle Insurance Companies

For motorcycle insurance, the coverage we get for our money can be broken down into three categories: the general public and property around a vehicle; the person operating that vehicle; and the vehicle itself.

First, we cover the general public and property around us (liability), and second, ourselves (medical/personal). Third, we cover our beloved motorbikes, assuming they're worth it. For property coverage, let's be honest—while we want solid insurance for that brand new sport tourer, any late 80's Honda barn find is hardly worth the deductible unless we're feelin' sentimental.

Liability Coverage (The Bare Minimum)

In most states, liability coverage is the bare minimum required to make us road legal. We as motorists have a responsibility to those around us as well as their property, especially in the event of an accident where we're at fault. That means the bulk of our policy's price tag comes from making sure the other guy (and his stuff) will be alright.

It also means that every insurance agent you call will pull your driving record. After they do, these are a few questions you might ask. Add 'em to your notes:

1. What is the minimum limit the state requires?
2. In their professional experience, what limit should you carry?
3. Can they provide more than one limit option (price difference quote)?

The answers to each of these questions will depend on whatever algorithms they default to—and your assets. If you're a 19-year-old college freshman with student loan debt who's renting a studio apartment with five roommates, you don't have any assets. Understatement of the year: your insurance will probably cost more. If, however you're a 53-year-old retired accountant with 3 "modest" houses and a growing investment portfolio, well, you get the point.

Sadly, some motorists claim they're "so safe that no insurance is necessary." This is the most inconsiderate and irresponsible choice that a motorist can make. 

Get Yourself The Dang Medical/Personal Coverage!

One smart way we can employ the best companies for motorcycle insurance is by accepting that: a) we as riders are more exposed/susceptible and b) unexpected mistakes, our own or by others, can prove to be catastrophic. If you don't have your own personal medical insurance, it's imperative that you get medical/personal coverage when you ride.

Consider a worst-case scenario that a car smashes into your bike, while you are still on it. You watch the driver leave the scene and he's gone, like gone gone. Or he sticks around but has no way to compensate you for the makeshift surgery his hubcap has just performed.

The bottom line: an accident has taken place and you're hurt. There's no funding and the damage is a life-changing combination of debt and physical debilitation.

Convinced that you should pay up for the medical/personal coverage yet? Add these questions to your screening notes:

4. Is medical/personal an option? Is it required?
5. If available, what's the pricing?
6. Does that extend to my passengers?

Twisted Road Bonus Question: Will this insurance follow me onto rental bikes?

First, you've covered other drivers' and riders' hides, thanks to your motorcycle insurance. Now you've covered your own. What next? Now we can look at making sure your lovely machine gets its due! Nobody's Ninja 250 is more custom than yerz!

3. Find The Best Motorcycle Insurance Companies For Your Bikes

What is the best motorcycle insurance on the market? Well, the one that covers liability, medical/personal, and of course, your faithful steed! If you've ever wondered "what does fully comprehensive motorbike insurance cover?"…look no further, for you have arrived.

Whether or not it's truly the best on the market depends on you, both as a rider and motorcycle owner. Let's keep going and find the best insurance companies for your motorcycles.

I wrote a piece on used motorcycle values some time ago. The best motorcycle insurance companies will automatically assess your bike's value, figuring in mileage, compared cost, and premium upgrades (both dealership and third party). You can also make mention of your personal value, just so your voice is being heard. Whether or not they'll take your values into consideration is up to them, which again is why we're taking notes and screening the policies.

Also, make sure to share your own demands and expectations. Tell the agent about what the bike is used for. What personal modifications have you made and at what expense? Not all mods are performance specific, by the way. Some make the bike safer, affecting monthly motorcycle insurance costs in your favor.

4. Ease The Impact: Prove Yourself Worthy Of A Discount

If you haven't already, take a basic motorcycle safety course. If not because it will make you a better rider, then because telling your agent you successfully passed can lower your monthly charges. Consider becoming an instructor and the fees may diminish even more.

Permanently removing the passenger foot pegs is another negotiating tactic. If you express a personal "no passengers" rule, that shows your intention to balance the insurance company's bottom line. Remember, it's a business they're running.

This next bit is a little creative on my part, regards riding gear. I'm betting that if you wear ATGATT (all the gear all the time), you're probably better off at the negotiating table than "Joe/Jane Sandals" with their khaki shorts, fashionable sleeveless t-shirt and (what, kevlar?) bandana. Let them know you're taking responsibility for yourself and others using safety-minded gear.

5. It's Time To Call An Agent!

Call any insurance company directly and you'll get an earful of jargon that'll distract you from your initial goal (comparing coverage to find your best motorcycle insurance fit). Their phone systems and the people operating them aren't set up to onboard new customers; rather, their role is to work on existing claims.

What you need is an insurance agent.

Yes, the agents work for whichever company you're calling, but the conversation will also keep your interests in mind. By calling an agent, you're effectively calling somebody who wants to gain your business. While a good agent will provide pertinent information, a great agent will relay various terms without skipping noteworthy truths.

Here's how to navigate the conversation:

1. Inform them, in one brief sentence, of the basics of what you need.
2. Allow them to ask you (more than) a few questions. Answer them honestly.
3. Let them maintain control of the questions and discussion points (they're compiling a lot of information for you).
4. At some point, without sabotaging their effort, mention you have some notes you'd like them to consider.
5. Go through each individually, allowing them to tweak/adjust on their side.
6. Remember to bring those safety-minded specifics to light: training courses, passenger foot pegs, etc.
7. Mention any additional vehicles you might consider their services for in the future!

Should the conversation go smoothly, get the name of the person you're speaking with (first and last). Ask them for a direct phone number so you can maintain the business relationship. Even better, take the time to get to know them a little while you explore your policy details.

6. How Is Motorcycle Insurance Calculated?

Knowing your own criteria will often help an agent traverse their company system faster. Obtain the following information and save it to your notes. You'll be asked for it on every call.

• Driver's license number
• How often you ride
• The year/make/model of your bike(s)
• Elected training (riding courses)
• Professional expertise, if any (instructor, for example)
• Membership cards and/or certificates (AAA, AMA, MSF)

Behind the scenes, insurance companies will calculate your risk using a variety of personal data, from your driving record points to issued tickets and violations. Additionally, your claims record includes incidents where your bike sustained damage (tipped over, hit wildlife, vandalism). And, while your age carries some weight, many companies will overlook it if you've "proven your worth" (see above).

How often you ride, as well as the credit check, are not variables often considered for motorcyclists (these are more important for insured persons driving cars).

Which Motorcycles Have The Lowest Insurance Rates?

The type of bike, however—well, that one can get pretty hairy. What constitutes a motorcycle being a sportbike, for example, stems greatly from the demographic that buys that particular year/make/model. The generically-iconic Ninja 650 is a standard posture machine, but its aggressive front end and ridership following kick it pretty hard into the legit "sport" listings. It doesn't matter if that's technically correct. What the insurance company proclaims it to be, is what they'll use for, or against, your wallet.

To answer the questions of which bikes are insured most affordably, look to displacement and profile. Sub-300cc engines on a "modern standard," "classic standard," or "cruiser" chassis are hard to beat, economy-wise. That's because we as riders tend to purchase them out of utility or round-town pleasure instead of backroad hooliganism.

Good and bad factors alike play their part on both sides of the line. We don't want companies taking advantage of us and they don't want us taking advantage of them. 

In A Nutshell: The Best Motorcycle Insurance

Obtaining the right motorcycle insurance coverage is different from one rider or bike to the next. The key is knowing what you need while understanding what's at stake. Discuss your situation in detail with prospective agents. Tell them you're interested, while mildly suggesting that they're competing for your business.

Also, get everything in writing. Consider having it looked over by an independent agent or attorney. If all is well and the math adds up, your peace of mind is on the dotted line!