Motorcycle Insurance Articles
Three Types Of People Who Will Have Higher Motorcycle Insurance Premiums
2010-09-15
Motorcycle insurance premiums depend on who is insured, and what his or her driving record is. Quotes for motorcycle insurance vary greatly and a driving record showing accidents and traffic infractions will create higher premiums for the motorcycle driver.
Motorcyclists who compile traffic tickets bring extra scrutiny into play when it comes time to purchase insurance. Insurance companies assume those who ride recklessly are more inclined to be involved in accidents. Too many tickets and/or accidents automatically puts drivers in the high-risk zone. That guarantees motorcycle insurance premiums are going to increase, and that pre-supposes an insurance company is even going to keep doing business with them.
Insurance companies want honest answers from their clients. If a new customer fails to disclose an accident or traffic citations, it could result in higher premiums than were originally agreed to. Insurers in most states have sixty days to review a new client's driving records and they seldom fail to uncover anything that adds to a policyholder's risk factor.
Bad credit is another potential deal breaker. Insurance companies want to know that insurance premiums will be paid on time. People who treat their personal finances appropriately can expect to pay much lower insurance premiums- sometimes as much as fifty percent less. Missing payments can cause outright cancellation of a motorcyclist's insurance policy. Trying to re-insure one's self after a cancellation isn't a lot of fun. Potential insurers will want to know why a policy was canceled. Again, be honest, because the new insurer will most certainly ask the former insurer what brought on dropping the client.
The kind of motorcycle can also play into what it insurance costs. Buying a bike that isn't a top-of-line vehicle makes it possible to forgo writing a policy that contains provisions for collision and comprehensive coverage, depending on a policyholder's personal financial situation. Not having those items in a policy means lower premium costs, although there might be a need to acquire collision and comprehensive coverage if the motorcycle is being financed.
It is possible to change a bad driving record to something more acceptable to insurance companies. Transform yourself into a safe driver by getting rid of old habits. Maintaining a cautious awareness while driving is the first step toward lowering motorcycle insurance premiums. It's important to adhere to all traffic laws. Don't expect an overnight change regarding how insurance companies view your efforts. Insurers will eventually come around, some sooner than others, and your insurance premiums can be brought down to a more affordable level.