Motorcycle Insurance – Things to Know When Shopping for Motorcycle Insurance Quotes

What you need to know about shopping for motorcycle insurance including how to find the lowest quotes. How Insurance Companies Rate Motorcycle Insurance And More.

  1. How do insurance companies decide the rate of motorcycle insurance?
  2. Do I need a motorcycle license to insure me?
  3. Why is full coverage so much higher than liability insurance on my bike?
  4. Are there benefits in using an agency to quote my motorcycle insurance?
  5. How can I get the lowest rate insurance quote?

1. How do insurance companies decide the rate of motorcycle insurance? Insurance companies increase the rate of bikers insurance like auto insurance with some differences. Here is a list of the main rating factors used to determine your rate….

  • Zip Code – Areas with high loss rate history
  • Date of Birth – With age comes intelligence and security
  • Driving experience – more experience equals lower rates
  • Marital status – Married riders enjoy slightly lower rates
  • Violation history – more violations, higher premiums
  • Requested Coverage – Better Coverage, Higher Premium
  • Motorcycle Price – Only when purchasing full coverage
  • CC Size – Size matters, larger engines pay more
  • Cycle endorsement date – the date you received the motorcycle license
  • Discounts and other rating factors – ask your company for details

2. Do I need a motorcycle license to buy insurance? You do not need to obtain a motorcycle license to purchase rider insurance, however, having a motorcycle license affects your rates. Having a Class M license lets the insurance company know that you are an experienced rider and less likely to be involved in an accident. The longer you have your motorcycle license, the lower the rates. There are many companies available for you to buy motorcycle insurance, even if you do not have a license but be prepared to pay a higher rate than those with a license.

3. Why is full coverage so much higher than liability insurance on my bike? Full coverage on a motorcycle is much higher than an insurance liability, the only risk involved is because of it. Remember, liability insurance covers others who are liable to you, not your bike itself and full coverage covers your bike as well as liability. If you hit someone with your motorcycle, your insurance company has to pay for damage to the property of you and others. How much damage can a motorcycle actually cause you? This is why liability motorcycle insurance is usually so cheap. The damage you can do to your bike reflects the rates you pay on liability. Now, this is a complete story when it comes to full coverage. Almost any type of accident will cause extensive damage to your bike that will have to be paid as a result of very high rates. Get quotes on both and compare your options before making a decision.

4. Are there benefits in using an agency to quote my motorcycle insurance? There are great benefits in using an agency. Agencies typically work with multiple carriers that have different guidelines, prefer different types of risks, offer different discounts and more agencies may enter your information into a comparative rotor And can instantly see the rates of all the companies they have to offer you. Agencies can usually do all they can, including, but not limited to, all the discounts available to help you find low cost motorcycle insurance.

5. How can I find the lowest motorcycle quote? When shopping for any type of insurance quotes, you want to do your best in providing the most accurate information. The reason why you want to do this is because a company cites the lowest rates with you, saying that having a ticket will usually not make a ticket cheaper. Every company has its own rating method, so when you are comparing purchases for your motorcycle insurance, provide accurate information, especially with previous tickets to ensure that you are comparing the exact rates Huh. Also, take the time to bid from at least 3 different companies to understand the range of prices you pay. Lastly, make sure to get a quote from at least 1 agency because one agency quotes multiple companies immediately so 1 call gives you the lowest of many quotes. Insurance agents can usually give you discounts and advice to find the lowest motorcycle insurance quote.