Compare and save on motorcycle insurance
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Compare and save on motorcycle insurance
Enter your ZIP code to see insurers near you.
Your information is secure.
Commercial motorcycle insurance companies offer customized coverage for fleets of motorcycles, rental bike companies, police departments and other organizations. Taking extra safety steps like training courses and risk assessments can improve safety and help you save money on your fleet budget.
A commercial motorcycle policy offers blanket liability coverage for your fleet of motorcycles, along with any add-ons you choose. Insurance companies work with you to customize to your business’s needs. However, most commercial insurers cover motorcycles under their vehicle fleet policies, rather than advertising a separate motorcycle policy.
If you own a motorcycle rental business, you’ll need both a master policy to protect your fleet and a policy that you can offer your customers if they want extra liability or injury insurance for themselves. You might go with an insurance company that specializes in insuring rental businesses.
The cost depends on your type of business, the number of motorcycles insured and your state. However, the average motorcycle premium for individuals is $518 per year, but you can expect your premium per motorcycle to dip lower than this amount. The more motorcycles you have, the cheaper your premium may be.
For example, motorcycle rental companies might spend $70 per bike per year while offering insurance packages to customers starting at $15 per day. The cost may be lower because the company’s high number of bikes and because customers shoulder some of the coverage responsibility.
Insuring an entire motorcycle fleet can seem daunting until you work with a representative on your specific needs. Follow these steps to cover your troop of bikes:
You’ll find many of the same standard coverage types as with other vehicles, but consider getting higher limits for physical damage and liability to better fit your business needs. Coverage you may need:
Your business umbrella policy may provide excess coverage for your vehicles too. Check your existing policy before considering other excess coverage types.
In addition to these coverage offerings, motorcycle rental businesses can use a provider that offers insurance packages to their rental customers. Coverage offered to customers may include:
Insuring multiple bikes and riders has challenges. Easy mistakes or downfalls to watch out for:
When insuring any vehicle fleet, you might need to dig to find providers for your troop or rental bike business. However, you may find what you’re looking for with general fleet or rental insurance providers.
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