Insuring your vehicle is a must, and that's a fact. While in general motorcycles may be considered budget vehicles, they still need to be protected by some sort of financial shield if you intend to get the most out of them as an owner. If you're strapped for cash and worried that you won't be able to afford good insurance for your budget vehicle, never fear: more and more insurance outfits are offering cheap motorcycle insurance.

We could safely say that the rise in number of cheap motorcycle insurance plans is due to the annual rise in the number of registered motorcycles. The U.S. National Highway Traffic Safety Administration (NHTSA)'s latest "Hurt Report" claims that between 1995 and 2004, the number of registered motorcycles has increased by 48%. Bikes may be the quintessential "bad boy" vehicle, and yet more and more people are seeing the appeal in owning one!

An interesting thing discovered by the Motorcycle Industry Council (MIC), which is also mentioned in the 2004 Hurt Report, is that there has been a remarkable increase in the number of motorcycle owners above the age of 40. In tandem with this information, the NHTSA's Fatality Analysis Reporting System (FARS) shows that there has been a marked increase in fatalities among motorcycle owners aged 40 and above. Overall, the number of accident fatalities has been increasing yearly. This culminated in a total of 4,008 fatalities in 2004, from 3,714 in 2003.

There's no need to debate this: one of the very first things your new bike will need is insurance. But how to get one if you're on a tight budget?

Here's a simple first step: go online. Lots of insurance companies are offering affordable rates for basic insurance packages, and give out quotes that are friendly toward people of all income brackets. If you have the option to go for a custom package, stick to the basics: look for a coverage that would cover the costs incurred in worst case scenarios. This would be a real favor not only to you and your vehicle, but also to your family and friends, whom you allow to ride your vehicle from time to time. Getting a good insurance plan would show that you are a responsible vehicle owner. But getting a good and yet cheap motorcycle insurance plan would prove that you are not only responsible: you're smart with your money too!