Motorcycle Insurance Articles
Reasons A Motorcycle Insurance Quote Will Be More For A Young Driver
2011-03-15
Finding a motorcycle insurance quote today has never been easier, as there are thousands of online sites currently offering this type of coverage that are both easy to locate and simple to negotiate. Most offer free quotes to those requesting them and these can be given quickly and with just a little basic information required from the prospective customer. And, because competition in this area is fairly robust, motorcycle insurance costs are being held in check which is, of course, good news to consumers.
There are a myriad of factors that will affect a motorcycle insurance quote and, when a quote is being requested from an online source it should be understood that this will only be an estimate. The reason for this is that all the information needed to come up with a precise dollar figure for the cost of a specific policy is not requested in an online application. The main factors, however, such as make, model and size of the motorcycle to be insured are important ingredients in figuring approximate motorcycle insurance costs. Even more important, though, will be the age and driving record of the proposed insured.
As a rule of thumb is that the younger the rider, the more costly the coverage. Insurance companies are in the business of assuming risk and, to them, young riders of motorcycles are high-risk entities. This is obvious when looking at the statistics diligently collected and studied by the insurance industry. The highest percentage of costly claims against motorcycle insurance companies is due to young riders (or their surviving families). Because of this fact, motorcycle insurance costs for young riders must necessarily be higher. Underwriters use a wide variety of statistics when figuring policy premium amounts. Because of this, an online motorcycle insurance quote, where all factors have not been taken into account, will only be a ballpark figure.
Fortunately for young riders, there are certain things that can be done to somewhat lower these typically high coverage rates. If still in school, maintaining a certain GPA can earn a slight discount with some carriers. Successfully completing a defensive driving course can also help. Riding an older, smaller motorcycle will also bring lower rates than when riding a newer, bigger, faster machine. Adding the coverage onto one's parents' existing policy may also save some premium dollars over the issuance of a new, stand-alone policy.
Young riders are high-risk riders, borne out by all the available statistical data. In some cases, insuring a motorcycle for these riders may be more expensive than the payments on the bike itself. This is an important factor to consider when deciding whether or not to utilize this type of transportation.