Choosing the right motorcycle insurance is an important consideration for many motorcycle owners. This insurance can pay for medical bills resulting from motorcycle accidents, as well as motorcycle repair costs. And motorcycle insurance can cover any outstanding debt on the bike. In fact, if you apply for a motorcycle purchase loan, most lenders will require you to get insurance as part of the loan application process.
Motorcycle insurance can be expensive, but there are many things that you can do to ensure that you receive the best possible rate. First, decide the total dollar amount of coverage you will need, as well as the deductible amount. You will usually want to get coverage that includes yourself or another driver, passenger, custom equipment, collision, unlicensed motorist and medical payments.
Your state may have minimum limits that you must meet, so be sure to be aware of those before starting pricing policies. And then get quotes from many different insurance providers so that you can do a price comparison and select the cheapest policy. You can do this by talking with your insurance agent or searching online for motorcycle insurance quotes.
Always ensure that you are comparing policies with the same coverage and reduced values. Remember that a deductible is the amount you must pay for each claim yourself, which you will pay before insurance. Deductible, inexpensive policy, but you should always be sure that the deductible is not so high that you will not be able to pay it in case of an accident.
And when you are applying for motorcycle insurance, it is very important that you be honest when you answer the questions on the application form. Some things that come to mind when applying for motorcycle insurance are your age, riding experience, driving record, and details about your bike, such as price, power, age of bike and any special modifications. If you do not tell the truth about these items, you may find out later that the insurance company will not make any payment on your claims, allowing you to pay all medical and repair costs.
Another tip for saving money on your motorcycle insurance policy is to bundle it with other insurance that you already have. For example, if you currently have insurance on your home or other vehicles, that particular company will offer you significant discounts on insurance coverage for your motorcycle.
It is also a good idea to do a motorcycle safety course. This will help you get a discount on your motorcycle insurance as motorcycle companies feel an educated and trained rider who understands safety issues, is less likely to make common mistakes or behave recklessly.
In addition, most insurance companies will give you additional discounts if you are able to store your motorcycle in a safe place such as a garage or shed, which reduces the likelihood of it being hit, vandalized, stolen, or damaged by natural elements. goes. Even if you do not have a building to store your bike, you may be able to save money if it is parked in an area that is covered by a monitoring system.
Fitting your bike with high-end anti theft accessories such as disk locks, alarms and satellite tracking is another way to save money on your motorcycle insurance costs. However, these devices can cost several hundred dollars, so always check with your insurance company before purchasing to make sure that the savings you see in your insurance premium will be worth the extra expense.
In addition, many insurance companies will give you an extra discount if you will not ride your motorcycle during the winter months, when there are more chances of accidents due to poor road conditions. This is a great money-saving option for riders living in North America. However, if you opt for this coverage, keep in mind that you won’t be able to get your bike out for a ride if a warm spell appears for a few days during the winter months.
Lastly, keeping a clean driving record both on your motor vehicles and on your motorcycle will save you a lot of money on your motorcycle insurance. Insurance companies like to reward those who remain low-risk. They also want to maintain your business. If you have paid your premium on time for six months and have not made any claims or moving violations, contact your insurance company and ask them to review your policy for a lower price. Many insurance companies will do this automatically upon renewal of your policy, but if you have an annual policy, you should contact them after six months.