Honda Motor Co. says it will begin charging more than $3,000 in premium for motorcycle insurance starting in 2019, including on motorcycles it sells.
Honda said it will pay $1,800 per vehicle per year starting in 2021.
Honda Motor Co., based in Japan, started selling motorcycle insurance in 2015.
It has also offered some types of coverage for cars, trucks, and SUVs.
Hudson, New York-based Honda Motor Insurance said Tuesday it will start charging more for motorcycle and hybrid vehicle insurance starting this year.
HMI said its new policy will cover vehicles with four-cylinder engines from 2020 through 2025.HMI, which was founded in the United States in 1887, is one of the nation’s largest insurers.
It provides more than 10 million policies for consumers and businesses in more than 90 countries.HMC also will offer new motorcycle coverage to customers of its Japanese parent company, Honda Motor Group, starting in the third quarter of 2019.
It will also pay premium on motorcycles bought from other companies.HMA, the insurer of the U.S. Air Force, said in a statement Tuesday that it will cover all motorcycles bought with the federal government starting in 2020.
HMA said its motorcycle policy will include premium and deductibles for the first two years.HMCA said it is working with its partner in Japan’s insurance industry, Kama Sutra, to develop new motorcycle insurance policies.
Kama Suta, a Japanese insurance company, said its first motorcycle insurance policy will be launched in 2019.KAMA Sutra is a subsidiary of Honda Motor Corp. KAMA Suta plans to launch a separate motorcycle insurance program for the next two years, it said.
The new motorcycle policy from KamaSutra will cover motorcycles bought before 2020 from the U, U.K., Japan, and Germany, KAMA said.
Hiawatha Motor Co.’s policy will also cover motorcycles that have been imported from Japan, the company said.
The policy will pay premium for motorcycles purchased from Japanese suppliers, KWA said.
Sebastian Kohn, a spokesman for KWA, said the company does not currently offer motorcycle insurance for any vehicle, including the KWA brand.KWA sells vehicles, trucks and SUV parts.
The announcement comes amid growing interest in motorcycles by some customers who do not want to pay extra for the insurance.
The new policy from HMA and Honda Motor, however, could help offset the cost of motorcycle insurance premiums.
Hemera Insurance, based in Florida, will offer more than 100 million motorcycle policies for its consumers starting in 2018.
The company said it would also pay for premium for some of its own motorcycles.
The move could reduce the cost for customers who want to buy a motorcycle but do not have the money to buy premium.HEMERA Insurance said it was offering an optional $3 million policy with premium and deductible for motorcycles sold before 2019.
The policy covers motorcycles sold from January through December of 2020.
The company said in an emailed statement that it was working with the National Highway Traffic Safety Administration (NHTSA) and other regulatory agencies to ensure compliance with regulations governing the sale of motorcycles, including motorcyclists.
The NHTSA said it “is working to ensure that motorcyclist policies are compliant with existing regulations and requirements.”HEMEROINS said it plans to offer a new motorcycle motorcycle insurance product in the first quarter of 2021.
It said it may also begin selling motorcycle coverage for trucks and SUV parts, but did not provide any details.HEMPERS is a leading provider of motorcycle, motorcycle, truck, SUV, and SUV-truck insurance policies in North America.
It is a member of the Global Motorcycle Insurance Association, the industry’s leading umbrella organization.
Hempers said it offers comprehensive coverage to all motorcycles sold after 2021, with premiums that are lower than the premium on most other types of vehicle insurance.
HEMPERS said its policy will offer a minimum premium of $2,500 per vehicle.
Hemsco, based near New York, said it has also announced a new type of motorcycle and SUV insurance.
It plans to start offering a new policy in 2020 that will cover the sale and use of vehicles owned by certain manufacturers.
The product will also include premium for vehicles purchased from other manufacturers.HEMSCO said it had previously launched a new, more comprehensive motorcycle insurance service, but it did not disclose how many of its policies would be covered.
The announcement comes as more consumers are turning to online motorcycle insurers.HEMA said it began selling motorcycle and motor vehicle insurance policies for customers in 2018 through 2020.
It also started offering motorcycle coverage in 2019 for customers whose vehicles were sold after 2020.
The insurer said it currently offers policies for motorcycles bought at the dealership.HIA is one the nation�s largest insurers, with more than 15 million policies sold.
HIA was founded by Japanese carmakers in 1871.HIM