The warmer summer months are finally here and this is the best time to hit the open road on your motorcycle. It may also be the perfect time to buy the motorcycle of your dreams. However, before you hit the open road this season, it is important to have enough motorcycle insurance to cover any unexpected accidents or incidents. Motorcycling is dangerous and the amount of insurance you purchase should reflect these dangers. All riders should at least purchase the minimum amounts of insurance required by law in Colorado. However, safety experts encourage riders to purchase significantly more in the event they’re involved in a hit and run accident or an accident with an uninsured or underinsured motorist.

Minimum Insurance Requirements in Colorado

In Colorado, motorcyclists are required to purchase and maintain motorcycle liability insurance on their bikes. This insurance protects you in the event you cause an accident. This insurance will cover the other driver’s injuries and any damage to other vehicle or property. These minimums are:

• $25,000 bodily injury per person
• $50,000 bodily injury per accident
• $15,000 property damage per incident

All riders are encouraged to purchase additional insurances such as UM/UIM insurance to protect themselves in case they’re involved in an accident with a driver who doesn’t carry these minimums. In addition, it is always a good idea to raise your limits to protect yourself in the event you cause a catastrophic accident with multiple injuries and damages.

Average Cost to Insure a Motorcycle in Colorado

The average cost to insure a motorcycle in the United States is $519 per year, according to statistics from ValuePenguin. This is well below the average cost of auto insurance, however, where you live could significantly impact this cost. For example, motorcyclists in Louisiana pay 73% more than the average – a whopping $896 a year to insure their motorcycles. Riders in Iowa, however, pay 38% less to insure their bikes – just $323 a year.

So what about the cost to insure a motorcycle in Colorado? Well, in here, motorcyclists pay just 3% above the national average – roughly $534 a year or $45 a month to insure their bikes.

In addition to where you live, your rate will change based on the amount of coverage you purchased, your driving history, and your age. It will also change depending on what type of motorcycle you own. In general, sport bikes and super-sport bikes are more expensive to insure than cruisers. This is because they have a higher crash rate and a higher theft rate. In fact, compared to cruisers, sport bikes were 388% more expensive to insure. Touring bikes were the cheapest to insure. In fact, they were 40% cheaper to insure despite having a much higher value.

Contact Our Experienced North Denver Motorcycle Accident Lawyers

If you or someone you love has been injured in a motorcycle accident in Arvada, Northglenn, Thornton, or anywhere in Northern Colorado, you may face a long uphill battle collecting the money you need to recover. At Hull & Zimmerman, P.C., our committed motorcycle accident lawyers can help you during this time. We know how to negotiate with insurance companies to recover maximum compensation for our clients. Contact us at (303) 423-1770 or (866) 385-3505.