It is mandatory to have motorcycle insurance in many states. In addition to covering any loans on the bike, the insurance will also cover medical expenses for personal injury as well as collision damage. No matter where you live, motorcycle insurance is always a good idea, regardless of whether it’s required. One never knows when they will be needed. The cost of motorcycle insurance is actually affordable, costing much less than car insurance in many areas despite the high cost of repairs to a motorcycle. You can make sure you get the most favorable interest rate by following some great tips.
Take a motorcycle safety course
The safety course you should take if you haven’t yet. You will not only become a better motorcycle rider, but you will also earn a discount on your motorcycle insurance. Motorcycle companies believe an informed rider is less likely to make common mistakes or engage in reckless behavior. When you insure your motorcycle with the same company you insure your home and other vehicles you will likely save money on your policy.
Compare the value for the cost
When comparing motorcycle insurance rates, make sure you are comparing apples against apples. This simply means you should only compare the cost once you have determined what the insurance covers. Ask for information about the dollar amount of coverage as well as the deductible amount. A deductible is the amount you will have to pay out of pocket for each claim filed before the insurance will pay the remainder.
Concider how motorcycle storage can effect your rates
If you are able to store your motorcycle inside a storage unit or garage, then do so. Most insurance companies will give you additional discounts for your motorcycle being in a secure location that reduces the chances of it getting hit, vandalized, stolen, or damaged by the natural elements. Many insurance companies will give you an added discount if you won’t be riding your motorcycle during severe winter months. This is a great option for those of you who live in colder parts of the world. However, keep this coverage in mind because you will likely be tempted to get that bike out when a warm spell appears for a few days during the winter months.
Your driving record matters.
You will save a great deal of money on motorcycle insurance if you maintain a clean drivers record on your motor vehicle as well as your motorcycle. It is common for insurance companies to reward customers who have been a low risk. In addition to keeping your business, they want to maintain their reputation. Contact your insurance company and ask for your policy to be reviewed for a lower price if you have made all of your premium payments on time for six months. When you renew your policy, many insurance companies will automatically do this, but if your policy is an annual one, you should get in touch after six months.
Those just learning to ride a motorcycle but who don’t yet possess a valid motorcycle license might want to consider learning motorcycle insurance. A life insurance policy is a good way to make sure you are protected in the event of an injury or accident. This type of insurance will cost you more than basic motorcycle insurance, but you cannot put a price on your safety.
Get motorcycle insurance quotes online
Additionally, the internet can be used to find motorcycle insurance. There are some insurance companies that do not offer motorcycle coverage, while others specialize in it. It is convenient to enter your information once, and then you receive quotes from various companies by email. In addition to reducing your time spent on the process, you can easily compare rates as well.
Concider full coverage for the best value
Often people shy away from full coverage when purchasing auto insurance beacuse of the high cost. While it does cost more than PPLD insurance for your motorcycle it really doesn’t cost that much more. Many people find that the added cost is only a few dollars a month. Personally we pay an extra $20 a month in a high cost insurance state to have full coverage. This coverage will protect our investment should something happen to the Harley. Paying a bit extra is well worth the investment.
It’s a good idea to have motorcycle insurance whether it’s required by your state or not. Operating any motor vehicle is risky, but you can help reduce the financial risk involved by covering the cost of damages and medical expenses should you be involved in an accident.