by Edward Sneneh, Chicago Motorcycle Insurance Agent

A motorcycle is a motorized vehicle, meaning that it is subject to the same insurance laws and rules that apply to other motor vehicles, including personal autos, trucks, boats and any other motorized vehicles that can use public roads. For that reason, motorcycle owners must abide by the rules of the state pertaining their insurance.

Limits of Liability Insurance For Motorcycles: In the State of Illinois motorcycle insurance must meet the minimum mandatory limits which is a minimum of $20,000 of bodily injury per person, $40,000 bodily injury per accident, and $15,000 property damage per accident. The law also requires similar amounts for uninsured motorists - bodily injuries be included in any motor vehicle policy, including boats insurance and motorcycle insurance policies.

The amount of bodily injury and property damage that a motorcycle may cause to other people in connection with an accident is related the power in that motorcycle. For that reason, a motorcycle with 1000 cc costs more to insurance for liability than a 250 cc motorcycle.

Liability Cost is Low For Motorcycle Insurance: While age of the operator has an impact on the premium of motorcycle insurance, the effect is not as drastic like auto insurance rates. Motorcycle crashes cause significantly less damage to other people bodies and property. There may be significant injuries and damage to the motorcyclists or the guests in the back as well as to the motorcycle itself, but all of those are not mandatory coverages under state laws.

Optional Coverages: Medical payments and insurance on guests riding with the cyclists can be significant, because unlike auto accidents massive bodily injury can almost be certain with any motorcycle crash, regardless of its severity. Also physical damage (comprehensive and collision coverages) are also expensive because simple crashes lead to significant damages to the insured bikes. Age and gender can play important factors in shaping the prices of these optional coverages. For that reason, comprehensive and collision insurance on motorcycles with an outstanding loan, lienholder, can be cost challenging for younger motorists.

Underwriting Factors: Like auto insurance, rating a motorcycle insurance is based on ZIP codes, age, gender, marital status, and amounts of liability coverage. Certain companies will check the credit of the applicant. Other companies may request the applicant to have the auto policy with the same company. In that case, liability limits may have to be the same for both auto and motorcycle policies.

Credits and Surcharges: Certain companies may provide discounts for operators with good credit, homeowners discounts, multi account discounts, good student discounts, and certain other discounts. However surcharges and extra premiums may apply to certain operators with bad driving records or young age. Certain high performance motorcycles may also be surcharged extra premiums for liability insurance.

Shopping for Motorcycle Insurance: Many companies offer motorcycle insurance, and each company has its own guidelines and rates. A captive insurance agent can be helpful to provide an insurance solution from one company, his or her company. On the other hand, independent insurance agents may provide better and more valuable services because they represent many insurance companies with many insurance plans and options that may suit more clients.

For immediate Chicago Motorcycle Insurance Quote please visit our website or call us at (708) 237-0404
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