Motorcycle Insurance vs. Auto Insurance
You will probably find that insuring a motorcycle is quite similar to insuring any other vehicle. Since I assume that many of my readers are familiar with insuring cars, I think it is useful to compare auto and motorcycle policies.
- If you live in the US, your state sure requires a minimum liability policy. This is to protect the finances of other vehicles on the road. In return, other vehicle operators must carry insurance to protect you. This will be true if you drive a sedan, sports car, RV, or motorcycle!
- You may also carry more coverage to protect yourself against a loss to your own vehicle. If you still owe money on your bike, your lender will probably require you to have full coverage.
- Your premiums can be affected by many of the same things that affect auto insurance premiums. Your age, driving record, and the type of motorcycle you ride will probably matter. The way you use your motorcycle may also matter. If you only drive it for a few hours on the week-end, you may be a low mileage rider. If you commute to work every day, on busy city freeways, you may have to pay more.
By now, you should understand that we buy policies to manage our risks. Insurers are experts at figuring out risks. So one of the biggest things that will be different about insuring a bike will be the fact that vehicle insurance companies believe that motorcycles are riskier to operate than cars.
However, insurers are smart enough to realize that a safe bike that is in the hands of a very good rider would probably be a better risk than a rattle-trap of a car in the hands of a bad driver! So there are always things you can do to shop for good coverage, and also to promote yourself as a better risk.
Simple Tips For Comparing Motorcycle Policies And Companies
As with any other type of insurance, most things are regulated at the state level. Beyond that, policies and prices vary by local area. So it is useful to compare plans in your local area. You can find some great websites that will show you the top local companies in your area. You just have to provide a zip code.
After you see the list, you are free to click through to the individual companies to find out more about their prices and coverage options. If you have questions, you will get contact information for your choices. You can call, email, or visit the companies or agents to get more detailed information. If you already pretty savvy about motorcycle policies, you can find companies that will let you buy online or over the phone. This gives you a good blend of using efficient Internet systems and requesting personal service.
You will need to figure out how much you can afford to pay for your coverage, and then balance that against how much you could afford to lose. This will help you figure out your coverage amounts and deductibles.
There is not one perfect motorcycle insurer for every rider. When you shop and compare, you can find the company that will be the best one for you!
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