Revving Up: Motorcycle Insurance in the US Industry Market Research Report Now ...
Revving Up: Motorcycle Insurance in the US Industry Market Research Report Now Available from IBISWorld Over the five years to 2012, IBISWorld estimates that revenue for the Motorcycle Insurance industry will rise at an average annual rate of 0.8% to $10.4 billion. As gas prices increased prior to the recession, many Americans explored alternative forms of transportation that put less pressure on their wallets. A number of consumers chose to ride motorcycles because of their excellent gas mileage. An increase in the number of motorcycle riders caused demand for insurance to rise, boosting revenue. Nevertheless, this revenue growth was slightly offset by the decline of registered high-end motorcycles. Still, demand for motorcycle insurance varies little from year to year, because drivers must have insurance to operate their motorcycles and be protected from potential liabilities and losses. Also, as demand for motorcycle insurance continues growing, firms will be able to distribute risk more evenly and be better able to pay off claims and invest more capital, increasing profit. For this reason, industry research firm IBISWorld has added a report on the Motorcycle Insurance industry to its growing industry report collection.Los Angeles, CA (PRWEB) February 15, 2012
Over the five years to 2012, IBISWorld estimates that revenue for the Motorcycle Insurance industry will rise at an average annual rate of 0.8% to $10.4 billion. According to IBISWorld industry analyst Mary Nanfelt, “as gas prices increased prior to the recession, many Americans explored alternative forms of transportation that put less pressure on their wallets.” As a result, a number of consumers chose to ride motorcycles because of their excellent gas mileage. This tendency toward motorcycles continued through the recession and into 2010 and 2011, as consumers looked for ways to cut down their expenses during high unemployment and low disposable income. An increase in the number of motorcycle riders caused demand for motorcycle insurance to rise, boosting revenue. Nevertheless, this revenue growth was slightly offset by the decline of registered high-end motorcycles. During the recession, fewer expensive motorcycles, such as racing bikes, were sold, which lowered the average insurance premium for this industry. In 2012, IBISWorld expects that industry revenue will increase by 1.3%, as consumers continue to ride motorcycles due to high gas prices.
Motorcycle Insurance Average Estimates - News
Over the five years to 2012, IBISWorld estimates that revenue for the Motorcycle Insurance industry will rise at an average annual rate of 0.8% to $10.4 billion. As gas prices increased prior to the recession, many Americans explored alternative forms
Like with auto insurance, there arе а number оf factors thаt аrе tаkеn into consideration when working оut premiums. Some оf theѕе factors wоuld bе thе age of the rider, hоw experienced the rider is, thе type of motorcycle аnd estimated market value.
Austin, TX -- (SBWIRE) -- 02/17/2012 -- It is estimated by the National Safety Council, there are about 10 million car accidents each year, two million of which render people injured. And yet, millions of Americans do not have the proper car insurance
Motorcycle Accident Injuries and Helmet Facts Helmets are estimated to prevent 37 percent of fatal motorcycle injuries for motorcycle riders (operators) Helmets are estimated to prevent 41 percent of fatal injuries for motorcycle passengers.
In 2008, AAA did a study and estimated traffic accidents cost Americans an estimated $164.2 billion dollars annually. Those costs are borne by each of us in the form of auto and health insurance premiums, emergency and police services, property damage,
US - Article about motorcycle insurance in the US... rates to increase ...
&Nbsp;Over the five years to 2012, IBISWorld estimates that revenue for the Motorcycle Insurance industry will rise at an average annual rate of 0.8% to $10.4 billion. According to IBISWorld industry analyst Mary Nanfelt, “as gas prices increased prior to the recession, many Americans explored alternative forms of transportation that put less pressure on their wallets.” As a result, a number of consumers chose to ride motorcycles because of their excellent gas mileage. This tendency toward motorcycles continued through the recession and into 2010 and 2011, as consumers looked for ways to cut down their expenses during high unemployment and low disposable income. An increase in the number of motorcycle riders caused demand for motorcycle insurance to rise, boosting revenue. Nevertheless, this revenue growth was slightly offset by the decline of registered high-end motorcycles. During the recession, fewer expensive motorcycles, such as racing bikes, were sold, which lowered the average insurance premium for this industry. In 2012, IBISWorld expects that industry revenue will increase by 1.3%, as consumers continue to ride motorcycles due to high gas prices. Industry firms provide a variety of consumer motorcycle-related insurance products, including collision insurance, property damage liability insurance and bodily injury insurance. Insurers pool premiums (i.e. funds) from policyholders to pay for losses that some individual policyholders may incur, making the industry an indispensable part of risk management for consumers. Nanfelt says, “demand for motorcycle insurance varies little from year to year, because drivers must have insurance to operate their motorcycles and be protected from potential liabilities and losses.” Consequently, the industry is often compared to a utility because demand does not fluctuate strongly with the economic cycle. In the five years to 2017, IBISWorld projects that industry revenue will continue to grow.