Motorcycle Insurance Articles
How To Keep Motorcycle Insurance Rates Under The National Average
2011-01-12
Motorcycle insurance rates are determined by the operator, driving history, bike value and many other factors. Average insurance rates can vary drastically depending on who is driving the motorcycle. In some cases, motorcycle insurance can cost more than insurance for other vehicles. Whether you are an experienced rider or new to motorcycles, a few smart decisions can help keep your motorcycle insurance rates below the national average. Understanding motorcycle insurance rates and what affects them makes it easy to keep your motorcycle insurance rates low or reduce them further.
The type of motorcycle you ride one of the critical factors affecting your insurance rates. As a rule, modest commuter bikes and used motorcycles are less expensive to insure than high-end motorcycles and high-power sports models. Custom motorcycles and bikes with after-market upgrades and customized parts also cost more to insure.
While all riders are required to carry liability coverage, collision coverage and comprehensive are optional benefits. Depending on the value of your bike, it can be practical to remove some coverage benefits. Collision coverage will pay for damage if your bike damaged while parked or you strike a stationary or moving object while comprehensive benefits cover all types of physical damage caused by natural elements, vandalism and non-collision damage.
If you want to protect your bike with collision and comprehensive coverage while keeping affordable rates, consider raising your policy deductible and lowering your policy premium. Higher deductibles will keep your rates affordable and limit the number of claims on your insurance history while maintaining the same benefits and services.
Driving history and regional operating area also affect motorcycle insurance rates. Average insurance rates are always higher for new motorcycle operators and drivers who have a history that includes accidents, moving violations or speeding tickets. Operating area can also affect insurance rates for your motorcycle. Urban areas are often considered more dangerous leading to higher rates for city riders than operators driving in predominantly rural areas. If you live in a temperate climate, make sure your provider is factoring reduced winter driving time into your motorcycle insurance rates.
Improving your rider profile is the easiest and most effective way to keep you motorcycle insurance rates below the national average. Some policy discounts are available to customers who insure more than one vehicle or motorcycle through the same provider. Safe rider discounts that can result in lower annual premiums and benefits like accident forgiveness are available to riders who have been accident free for five years and have received no more than one violation. Completing a state-authorized a rider safety course is another way riders of an experience level can keep their rates low and qualify for special policy discounts.