Motorcycle owners see their motorcycles among their most prized possessions. Lots of passion, love (and expense!) goes into the investment of owning a bike. Motorcycles also present a number of dangers that are less apparent when you’re inside a car. For these two reasons alone your motorcycle should be insured to cover your investment, as well as protect yourself and others in the event of an accident.
If you are filled with joy at the sight of a good ‘bike’, better still if you are on one, you’ll appreciate a solid motorcycle insurance policy even more. Liability coverage will cover damage to another person if you are involved in an accident and property damage will cover any damage to your ride. Carrying motorcycle insurance is simply a necessity, not an option.
With motorcycles becoming more and more popular as a means of transport, it is important to get the right insurance policy for you and your motorcycle. To meet the minimum legal state requirements a basic liability insurance will work, but you might want to consider the benefits of covering more than just the minimum.
Just like auto insurance, motorcycle insurance rates depend on many factors, some of which are similar to car insurance (location, make of motorcycle, driver safety) but there are also some differences.
It is important to speak to the experts when shopping around for cheap motorcycle insurance as there are many types of discounts for example:
If you customize or modify your new motorcycle, it is crucial to declare this to your insurance provider. Even small changes you make to a bike are classified as modifications and can influence your insurance rate. Non-disclosure of information, even non-intentionally, will have an impact on your claims.
Insurance agents will assess the modifications to see if they enhance the performance of your motorcycle. If the bike is more powerful as a result of the modifications, then it is more at risk of accidents. Sometimes cosmetic modifications, that do not enhance the performance, can increase the risk of theft, therefore affecting motorcycle insurance premiums.
Many factors determine the rate you pay for motorcycle insurance. Statistics are gathered and analyzed. Some factors that will affect you rate are:
You can get a decrease on your premium rate based on your credit score. Insurance companies use a credit-based insurance score in order to predict what insurance losses might be. It has been proven as one of the most accurate ways of creating an insurance rate. To predict your score many factors are considered including credit history, payment history etc.
It doesn’t matter what type of motorcycle you own old or new – get online at InsuranceQuotes.com and browse through our site’s in-depth coverage for everything you need to know before taking out a motorcycle insurance policy.
If you would like to speak to someone, call us and any of our professional, highly trained team members will be delighted to answer your queries about finding cheap motorcycle insurance.