Five Interesting Motorcycle Insurance Trends You Should Know

Posted on by agentinsure

Motorcycle insurance gives riders in Sandy, UT coverage for theft, accidents, and other terrifying events. Understanding the trends in this industry will help you choose the right policy and guarantee your policy offers adequate protection. It’s also an excellent way to learn about the risks that come with riding motorcycles and take the necessary precautions. Plus, some interesting things are happening in this space right now. Here are a few for you to think about:

  • Electric motorcycles are rising in popularity: The environment, and our poor treatment of it, has been on the minds of many for a while now. Many riders are shifting towards electric motorcycles to reduce emissions and still enjoy the thrill of the ride. This will likely affect insurance premiums. 
  • The era of self-driving bikes is beginning: Although still in its infancy, autonomous driving technology is making its way into the motorcycle industry. 
  • Technology equals connection: The integration of telematics and LOT devices is revolutionizing the motorcycle industry by enabling personalized risk assessment and usage-based insurance models. 
  • More bikes come standard with advanced safety features: Riding is becoming safer every year. Manufacturers are equipping their bikes with advanced features like anti-lock braking systems and stability control.
  • Retro 80s styling is in: The café racer fad that’s dominated the industry is giving way to 80s styling. Popular brands like Kawasaki and Yamaha are releasing models with new models with bodywork that make them look like 80s Grand Prix racers. 

Trends are fickle and can change at any time. That’s why it’s important to remember these special edition motorcycles often cost more because of their limited availability and unique features. This increases the cost of replacements or repairs, which can affect your insurance premiums. To make sure you get the most bang for your buck, contact one of our friendly agents at The Smith Insurance Group Inc. We’ll give you the information you need to stay ahead of the trends.