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How Much Does Motorcycle Insurance Cost In Maryland

 Motorcycle Insurance Cost In Maryland

Anyone, who owns a motorcycle, need a proper insurance. Motorcycle and other two wheeled vehicles are prone to accidents and other harmful incidents. It is, therefore, much safer to to get a proper insurance policy to protect you and your bike when on the roads. In fact, motorcycle insurance is required by law in many States of US. Let us see what are the insurance facilities for your motorcycles in Maryland.


Motorcycle Insurance in Maryland

Motorcycle insurance Maryland laws require all motorcycle drivers to carry a minimum liability coverages, as explained below.

● $30,000 for bodily injury per person
● $60,000 for bodily injury per accident
● $15,000 for property damage liability.

Besides the above, all motorcycle insurance policies must include uninsured motorist coverage. The minimum limits are the same as required by the above mentioned coverages.

Medical Payment Coverage: This applies only to the pedestrians who are hit and injured by motorcyclists. This pays the cost of medical treatments up to $5000 for the pedestrians when they are injured by your motorcycle and this will not cover the medical expenses of the rider or passenger.

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Personal Injury Protection Coverage

Personal injury protection or PIP provides compensation for the losses due to injury, including payment of medical bills and up to 85% of loss of wages. PIP coverage is not on fault based and this implies that you can file a claim and collect the benefits irrespective of the fact who were at the fault for the accident that caused injuries to you. Unlike other mandated liability coverages, the State law does not require you to have any amount of PIP coverage and there is a minimum of $2500 for PIP coverage. This comes with motor insurance policies and this can be waived by the motorcycle owners, if they desire to do so.

Rider motorcycle insurance offers a higher range of liability options that are higher than the minimum coverage limits, as these minimum liability will not help you when more people are injured or when you car is damaged heavily in some big accidents. This company offer 50/100/25 or 100/300/50 or 250/500/100 towards bodily injury per person, bodily injury per accident and property damage. It is always better to have a higher liability coverages than the minimum to meet any emergency situations.

Apart from the above compulsory coverage limits, there are other optional coverages namely collision and comprehensive coverages. Collision pays for the covered losses caused by an impact with another vehicle. Comprehensive will pay for the damages to your motorcycle caused by animal contact, explosion, earthquake, hail, storm, water, flood, lightning, vandalism and the like.

Besides, there are roadside assistance coverage, accessory coverage and much more for the benefit of motorcycle riders in Maryland. Optional insurance coverages may be required by the drivers according to their necessities and demands. For the motorcycle purchased through financial lending, some of the optional coverages are required by the money lenders.

Motorcycle Insurance Cost In Maryland
Motorcycle Insurance Cost In Maryland

Insurance Providers in Maryland

There are many reputed motorcycle insurance providers in Maryland and they offer motorcycle insurance quote for every type of coverage and you have to select the best motorcycle insurance options that is suitable to your needs.

As far as cheap motorcycle insurance is concerned, a study has revealed that the insurance providers namely Geico, Nationwide, Progressive and Dairyland offer cheap annual average premium rates $242, $484, $680 and $711 respectively whereas the State annual average remains as $529 approximately. These are all only rough estimates and the real rates will depend on the coverages you need and the area in which you live. Other factors such as your age, gender, parking area and more influence the premium rates.

Custom motorcycle Insurance in Maryland

Some motorcycle riders will not be satisfied with the models of motorcycles that are originally manufactured by the companies. They will add some custom parts and alter the design of their motorcycles according to their tastes and personalities. These bikes are called custom motorcycle and they need custom motorcycle insurance in Maryland. Custom motorcycle insurance premiums are costlier than that are charged for ordinary motorcycles, as these custom parts costlier and it will involve huge expenses, if they are to be replaced or repaired after accidents.

If you select custom motorcycle insurance coverage, then you will receive up to $3000 in coverage without any additional cost and the coverage is available up to $10,000 for your custom parts and equipment.

Discounts

Almost all insurance providers offer discounts under various options and some of them are given below.

● Safe driver discount
● Discount for completion of motorcycle driving course
● Riding group member discount
● Discount for keeping your motorcycles kept in garages
● Multi policy discount

Besides there are some more discount options and it is up to you to find out the discounts to which you are eligible. Availing such discounts will enable you to get reduced motorcycle insurance premiums and you can save a considerable amount of money by way of such discounts.

Shopping for Insurance:

Shopping for the motorcycle insurance is the best way to get your desired cheap motorcycle insurance and at the same time you should not compromise for the quality of service as against the premium rates. While searching for cheap motorcycle insurance through online sources, you will be able to arrive at the best motorcycle insurance which is beneficial in both the aspects namely coverages and price.

Cost of Motorcycle Insurance

The cost of motorcycle insurance varies widely and depends on many factors. In general, motorcycle insurance is costly for younger drivers and for those, who drive sports bikes. The insurance providers determine the costs of motorcycle premiums based on many factors such as vehicle type, year of manufacturing, model, engine size, mileage used, modification and customization, your age, coverage options and much more. The premium will not be stable and varies according to the above mentioned factors.

Conclusion: As you are aware that the motorcycles are easily prone to accidents and the insurance is compulsory, do not try to avoid buying motorcycle insurance. This insurance is essentially required to protect your interests and to save you from possible financial distress.'

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