February 19, 2021   |   Posted by Rubenstein Law

You have the license, the cool bike, and the desire to hit the road. But there is one thing standing in your way: Florida motorcycle insurance. Whether you have questions about how much motorcycle insurance coverage Florida requires or why your premiums are so high, insurance can be a huge barrier to enjoying your ride.

The Florida motorcycle accident lawyers at Rubenstein Law are here to answer any and all motorcycle insurance questions. That way, you can start doing what you love – getting on down the road.

Rubenstein Law is a resource for Florida’s motorcycle community. If you have any or need help with a claim, call us at 800-FL-LEGAL/800-355-3425.

Florida Motorcycle Insurance Requirements

What kind of motorcycle insurance is required in Florida? Before you start looking at the factors that go into how much your motorcycle insurance costs, you need to know the basic coverage minimums and other requirements.

First, remember that any insurance coverage you have on another car or truck you own does not provide any coverage for you on your motorcycle. In Florida, a motorcycle requires its own policy. It’s also suggested that a motorcycle policy be fairly comprehensive and include medical coverage for yourself. Sadly, up to 40% of drivers in the state are not insured or underinsured, so even if an accident is the other guys fault, if they are part of the 40%, without your own policy, there’s no money to help with your medical bills and lost wages.

What Motorcycle Insurance Should You Get?

You do not have to have motorcycle insurance when you register your bike, but at least $10,000 of medical coverage is required for you to operate the vehicle. You have two basic options to get motorcycle insurance in Florida:

  • Purchase a policy through an insurance provider
  • Ask the Florida Bureau of Financial Responsibility to issue you a Self-Insurance Certificate. This is based on if your net worth is high enough to cover an accident.

If you obtain the required motorcycle insurance and are at least 21-years-old, Florida law allows you to opt-out of wearing a helmet, but this isn’t recommended. Research has shown time and time again that helmets save lives and as importantly greatly reduce brain-injuries. That’s true even for the best motorcyclists out there. You cannot stop someone else from being careless and crashing into you.

Despite not having to wear a helmet, eye protection is still mandatory in the state at all times.

Things That Affect Motorcycle Insurance in Florida

According to Business Insider, the average yearly motorcycle insurance cost in Florida is $1,284.05. That is just over $100 per month or $3.50/day. But that is just the average. Premiums vary widely, and a lot of things impact what you end up paying.

Below, we have listed some of the most common things that influence your Florida motorcycle insurance:

1. Coverage Amounts

This is perhaps the single most impactful factor in the cost of your insurance. Simply covering the potential for damage to your motorcycle is going to be a lot less expensive than full collision, medical, and liability coverage, for instance. That’s because covering fewer things means less financial risk for the insurer.

2. Your Past Claims

If you have a long history of motorcycle accident claims, your monthly premium might be through the roof. Insurers can see your claims history. And if you have made claims before, they assume you will do so again. They drive up policy costs to account for the liability they think you will bring to the table.

3. Your Driving History

Speeding tickets, accidents, and other driving-related incidents can affect your motorcycle insurance in Florida. When an insurer sees incidents like this in your driving record, it will likely raise your rates.

4. The Value of Your Motorcycle

This one is simple, but many people don’t consider this when they are shopping for motorcycles. If you drive a 2020 Harley-Davidson CVO Limited, you will likely pay a lot more for insurance than someone who goes for a much cheaper Suzuki DR250. If the Harley gets wrecked, the insurance payout will be a lot larger than the payout for the Suzuki. Insurers know this and adjust their rates accordingly.

5. Your Age

Sadly, motorcycle insurers aren’t afraid to stereotype younger people as reckless motorcyclists. They let age color their view of how you will behave on your bike, and that bleeds into your insurance costs. Every insurer has its own system, but rates tend to start going down after you turn 20.

Need Help With a Florida Motorcycle Insurance Claim?

Dealing with an insurer can be a hassle, especially if you’re a motorcyclist looking for compensation after a wreck. You are likely to find out just how poorly insurers treat bikers.

If you need help dealing with a motorcycle insurer or have additional questions about the coverage you need, Rubenstein Law is just a phone call or email away.

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