Motorcycle Insurance Articles
Motorbike Models And How They Affect Motorcycle Insurance Rates
2010-09-10
Motorcycle insurance quotes are carefully formulated by insurance companies, and almost every decision that a rider makes will be considered before a rate is offered. This includes the exact type of motorcycle that the driver decides to purchase. Motorbike models are one of the most important factors that insurance companies use when deciding quotes, so before buying your next bike, it's a good idea to know exactly how your decision will affect your insurance rates.
The most obvious way that motorcycle insurance quotes are affected by the model of a bike is through the bike's value. A more expensive bike will cost more to repair. Some of the most expensive motorcycles on the market can result in tens of thousands of dollars' worth of claims after a major accident and insurance companies are more than aware of this fact. They'll charge more for expensive motorbikes. This is especially true when a certain model of bike has a relatively high chance of theft. The most stolen models of bikes receive the highest insurance rates of all, because theft is one of the biggest claims that a motorcycle insurance company can receive, and in order to make the policy worthwhile, they need to charge more for these types of vehicles.
Another way that model affects price is through safety ratings. Motorbike models don't cause as big of a difference in insurance rates as with other types of autos, at least where safety is concerned Cars, for instance, vary greatly in their safety features and safety ratings, while most motorcycles have relatively similar safety features. However, motorcycle models are driven very differently; fast bikes are usually subject to far more insurance claims than slower bikes. This is one of the reasons that mopeds and motorcycles under 100ccs receive extremely low insurance quotes on average. Insurance companies look at statistics to determine which bikes are the safest. The safer the bike is, the lower the insurance rates are.
While different motorbike models may result in varied motorcycle insurance quotes, most bike owners won't decide which bike to buy simply because of insurance costs. There are a number of other ways to bring the cost of your coverage down to a reasonable level. Look into special discounts offered by your motorcycle insurance company or see if you can combine your policy with a homeowner's insurance or auto insurance policy. Look online for motorcycle insurance quotes every few months, and be ready to switch to a cheaper insurance provider if necessary. You can drive whatever model of motorbike that you want as long as you use smart buying tactics to keep your costs low.