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Motorcycle Insurance Rates Steady – Thefts Lower

Motorcycle Insurance Post Date January 29th, 2014 - People who steal come in all shapes and sizes. Further, they have a preference on the things they steal. Thieves whom steal vehicles just don’t steal cars, trucks and SUV’s.  In fact, some are not only attracted to cars at all.  In fact, if it were not for motorcycle thieves, there would not be motorcycle Insurance and Motorcycle Insurance Rates. Those whom are motorcycle enthusiasts have all types of interests when it comes to the type of motorcycles they own and ride. These two-wheeled vehicles do not come cheap and losing them to thieves can be a big loss if you have not bought Motorcycle insurance.

Motorcycle Insurance Rates are very low in comparison to the risk of ownership

Although the National Insurance Crime Bureau (NICB) recently reported a decline on the rate of motorcycles stolen in 2013 compared to 2012, but still the risk remains the same. Further the rates on Motorcycle Insurance have also remained the same. The NCIB reports a total of motorcycle’s stolen across the United States declined over 5% last year.

Motorcycles attract thieves for their value. They can range from hundreds of dollars to 10′s of thousands. Some motorcycles even cost $50,000 or more. Either a thief would sell the stolen motorcycle as a whole unit, or the bike would be stripped for its parts and used to reconstruct another motorcycle. The reason Motorcycle Insurance Rates are not in decline even though thefts are down – is the ease of a motorcycle to steal. Still Motorcycle Insurance Rates are still very reasonable.

More Japanese brand motorcycles topped the NCIB list with the most number stolen. Honda had the most with over 11,000 reported stolen.  Yamaha had nearly 9000. Suzuki follows the pack with a little under 7300. Kawasaki came in 4th with 5,000 motorcycles stolen.  The last and the most surprising is Harley-Davidson came in fifth with a little over 3,000 bikes stolen.

As to the states with the most number of motorcycle thefts, California is at the top of the list with nearly 6000 bikes stolen while Texas is # 2 with 4000. In the United States, nearly five hundred thousand motorcycle were sold in 2013. Regardless how much you spend on your motorcycle, it’s important to purchase motorcycle insurance. If you have not purchased motorcycle insurance in the past, you will be surprised how inexpensive it truly is.