How much does owning a motorcycle really cost?
Future motorcycle owners often look to motorcycle value guides to determine their upfront costs when weighing the pros and cons of ownership. However, the purchase price is only one factor in the overall value that comes with owning a motorcycle.
Riding along Florida’s sunny roads and enjoying the open air and scenery can be downright exhilarating. In terms of practicality, most motorcycles have a lower purchase price than other motor vehicles—with motorcycles typically ranging from less than $5,000 to more than $200,000. Another upside to owning a motorcycle is lower fuel costs compared to filling up the fuel tank of a car or truck.
However, motorcycle ownership also comes with risks and responsibilities. Unlike cars and trucks, motorcycles do not offer exterior protection from hazards on the road. Therefore, motorcyclists are more likely to be injured in an accident, which can lead to both physical and financial challenges.
Regardless of the risks, for many, safe, responsible riding practices can make owning a motorcycle a rewarding experience.
More information on preventing and responding to motorcycle accidents.
What are the different types of motorcycles?
All motorcycles have the same major parts: handlebars, 2 wheels and an engine, but they can be further classified into 1 of 3 categories: cruiser, sport, and touring—each serving a different function.
Cruisers
Cruisers are generally the best option for first-time motorcycle owners who are looking for a bike for short rides on the road.
These bikes are more commonly available in the market, and they tend to have lower price points. For those who desire a particular aesthetic, these bikes are available in both standard upright styles and lowdown choppers.
Sportbikes
If you’re an experienced rider with a need for speed, you may prefer a sport bike. These motorcycles have a sleek profile, and they’re built to go fast.
The sport bike is the adrenaline junkie’s motorcycle of choice. It should come as no surprise that the performance-focused features of a sportbike make this type of motorcycle more dangerous to operate.
Touring motorcycles
Touring motorcycles will take you on long rides with more comfort than a standard bike. They offer additional storage space to allow you to bring items along for weekend trips. If you plan to do more than day-to-day commuting on your motorcycle, investing in a higher-priced touring bike will likely be your best option.
What is the total cost of owning a motorcycle?
When you first began researching motorcycles, your initial question may have been: How much does a motorcycle cost?
By now, your research has likely raised more questions about the true cost of ownership.
Maintenance costs
Maintenance will be one factor in your overall ownership costs. Motorcycles require more frequent maintenance than cars; therefore, you can expect to pay more over time.
A Brief Overview of Florida Motorcycle Laws
In the state of Florida, motorcycle laws dealing with everything from helmets to lane usage are put into place for your protection and safety.
Safety gear
Although Florida does not require motorcyclists over the age of 21 to wear a helmet, it’s in your best interest to wear protective gear from head to toe when traveling on Florida roads.
Plan to spend several hundred dollars on your helmet, protective eyewear, and durable motorcycle clothing to protect you in the event of a fall.
Motorcycle insurance
Although some Florida motorcycle owners aren’t required to buy insurance, the cost of purchasing motorcycle insurance is much cheaper than paying for all the damages associated with an accident.
In fact, motorcyclists may be able to obtain insurance in Florida for as low as $52 dollars a month, with the average cost being around $80 per month (or less than $1000 per year) for a full-coverage policy.
The cost of motorcycle accidents
Motorcycles do not have built-in exterior protection from impact in the event of an auto collision like other vehicles do, making riders more susceptible to injury.
Common causes of motorcycle accidents
Similar to car crashes, motorcycle collisions can be caused by several different factors, including:
- Aggressive driving
- Hazardous weather conditions
- Speeding
- Driving while intoxicated
- Distracted driving, including eating, texting or talking
In other cases, a driver may cause a collision with a motorcycle by failing to check their blind spots. Motorcycles are much smaller than other vehicles and can weave in and out of lanes quickly. Therefore, it’s important for motorcyclists to proceed carefully and for drivers to thoroughly check their mirrors and the adjacent lanes.
5 Important Motorcycle Safety Tips
When riding your motorcycle, following these safety tips could help you avoid a serious accident.
Types of motorcycle injuries
The cost of a motorcycle accident often depends on the type and severity of the injuries. Motorcycle accident injuries can range from minor cuts and abrasions to more serious injuries like:
- Broken bones
- Muscle strains and sprains
- Road rash
- Burns
- Spinal cord injuries
- Whiplash
- Head injuries, including traumatic brain injury (TBI)
- Internal bleeding
Calculating the Cost of Your Personal Injury Claim
After you suffer an accident, you might wonder what your personal injury claim is worth. Learn how an attorney calculates your case’s value…
Factoring in medical costs after a motorcycle accident
Medical expenses typically exceed the cost of repairing or replacing the bike. When estimating the cost of a motorcycle accident, it’s important to consider the possibility that an injured rider may require long-term or even lifelong medical treatment.
If the accident causes severe or catastrophic injury, the motorcyclist may be unable to return to work. In the worst cases, an accident may result in the loss of the motorcyclist’s life.
Not only does motorcycle insurance cover property damage caused by an accident, but insurance will also compensate the motorcyclist or the motorcyclist’s surviving family members for medical expenses and lost wages. If the accident causes the motorcyclist’s death, insurance will cover the related funeral expenses as well.
Planning ahead for motorcycle ownership
During the planning stages of making your motorcycle purchase, the most important thing you can do is weigh the true cost of buying and maintaining a motorcycle versus the value you can get from ownership.
The purchase itself may require much less of a financial investment than buying a car. However, the pros and cons, risks and responsibilities, and sheer enjoyment of motorcycle ownership extend far beyond the initial price tag.
Contact an experienced Florida motorcycle accident attorney
Unfortunately, no matter how safe you are and how carefully you plan, accidents can still happen. And when they do, it’s critical that you have a motorcycle accident attorney on your side to ensure you get maximum compensation for your injuries.
