Motorcycle Insurance Articles
Three Reasons A Motorcycle Insurance Quote Will Increase
2010-07-23
First of all, the record of the motorcycle owner is the most significant factor in any quote, and it's usually a good first place to look when premiums change in either direction. If a motorcycle rider has picked up a traffic citation or two in the last few months, or if a claim was made against his or her motorcycle insurance policy, premium rates will increase. Motorcycle insurance companies have access to every rider's records, and it's impossible to hide tickets or reported accidents from insurance providers. Sometimes, it will take them a month or two to discover a rider's citations, but they'll undoubtedly find them at some point. The best course of action is to simply ride carefully and avoid incidents that could hurt your record. Further be certain to take immediate action if you get a ticket to get it taken off your record via motorcycle safety courses or other means. These steps can help you avoid a premium increase.
A rider's address can also affect motorcycle insurance quotes, and this can often confuse bike owners whose rates change drastically after moving only short distances. Insurance providers look at theft statistics to determine premiums for your bike's comprehensive coverage, and these statistics rely on zip codes for accuracy. When your zip code changes, there's a good chance that your rates could change too. The good news is that premiums can be affected in either direction; before you move, it's a good idea to look at several quotes online for your current address and your new address to determine whether a quote increase or decrease is likely.
Finally, your motorcycle insurance quotes will probably rise if the value of your bike increases. This makes sense from an insurance standpoint: the more valuable the bike, the more coverage it needs. Motorcycle owners can suddenly see rates increase as their bikes become more valuable, and especially if they make changes to their bike that increases its value. Rates will also increase if accident statistics on a certain bike go up. There's not much that you can do to stop these changes from affecting your policy, but by knowing about the changes, you may be able to shop around for better coverage and a lower price.