What Is Pay Per Mile Motorcycle Insurance?
With traditional motorcycle insurance, you pay a monthly or annual fee no matter how much (or how little) you drive. While this might make sense for cars and other vehicles, it doesn’t always fit the needs of motorcycle drivers, since many riders park their bikes for certain periods of the year (especially if they live in a colder climate).
This means that riders are often paying insurance even when they’re not using their bike or they’re having to stop and start policies depending on the time of year. But pay per mile motorcycle insurance is a way to help riders get the most out of their insurance policy, not the other way around.
Pay per mile motorcycle insurance means you only pay for the miles you use. For those that only ride during certain periods of the year, this means they’re not unnecessarily paying for coverage they don’t need.
So, How Does It Work?
Pay per mile insurance is designed to be simple. Depending on the insurance provider, you may need to install a device or app to keep track of your mileage, while others simply request a picture of your odometer each month.
You’ll likely pay a small monthly fee to keep your policy active and ensure you have coverage should your vehicle be damaged or parked. You’ll also pay a small fee per mile that you ride.
The Cost of Pay Per Mile Motorcycle Insurance
While the total cost you pay will depend on your actual mileage, pay per mile motorcycle insurance can be quite affordable for those who don’t ride often. If you do ride regularly, you’ll want to get pay per mile and traditional motorcycle insurance quotes and compare them to ensure you’re getting the best deal for your usage.
In terms of the cost per mile, this is calculated based on a number of factors unique to you, just like traditional motorcycle insurance. These factors can include your driving history, your age and gender, where you live, your bike’s make and model, and more.
You can help keep your pay per mile motorcycle insurance costs down by maintaining a clean driving history and taking a motorcycle safety course. Ready to see how much you could save? Request a quote here.
Is Pay Per Mile Motorcycle Insurance Right for Me?
It all comes down to your driving habits. Pay per mile motorcycle insurance makes sense for those who don’t ride year round or who only ride their bike occasionally. If you use your bike for long trips or as your day-to-day vehicle, then traditional motorcycle insurance might be more cost effective for you.
Pay per mile motorcycle insurance is also a great option for those that don’t want to stop and start their coverage every riding season, while still maintaining coverage during their off-seasons.
The Bottom Line
Pay per mile motorcycle insurance is relatively new to the U.S., but it’s expected to expand in popularity quickly. After all, paying for the miles you use and nothing more makes sense to many motorcycle drivers. While it’s not yet available in all states and at all providers, it’s worthwhile to reach out for quotes and find out your options.
What’s most important is that you get multiple insurance quotes before making a decision, including multiple quotes for both standard motorcycle insurance and pay per mile motorcycle insurance. With these and a rough idea of how many miles you use monthly, you’ll be able to make the right decision for your coverage needs and finances.
Let ConsumerCoverage do the heavy lifting by getting you access to free insurance quotes here, fast.
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