Motorcycle Insurance Articles
New Drivers And Motorcycle Insurance And Three Reasons Their Premiums Will Be Higher Than Average
2010-05-10
Insurance companies base their auto insurance premiums on claim statistics. The first factors they consider are the individuals that they insure. They evaluate each person and determine what kind of risk they pose for the insurance company. This is assessed by checking each person's driving record, including how many tickets, suspensions or at-fault accidents they have accumulated. Then, they look at the vehicle itself. Some makes and models tend to be stolen more that others or some are involved in accidents more than other makes and models.
The same applies for a new motorcycle rider. This individual has several obstacles to overcome in order to lower their insurance premiums. Motorcycle insurance quotes take into consideration if the rider has ever owned a motorcycle before. Motorcycles are smaller than the typical car, truck, or SUV on the road. If involved in an accident, chances are that the motorcycle will sustain the most damage. It will probably be written off, as it would cost more to repair than the bike is valued at, depending on the severity of the accident. The second strike that a new motorcycle rider has against him or her is the fact that they have no experience riding a motorcycle. As with any new driver, a motorcycle rider may not have accumulated the experience and knowledge required to deal with certain situations on the road. They are more likely to be involved in an accident or file a claim. Combine these two and you will find motorcycle insurance quotes to be substantially higher than other types of vehicles.
It seems unfair, but because insurance is all based on the principle of risk, and these drivers pose very high risks, the chance of an insurance company having to pay out a claim increases immensely. Other factors that may influence motorcycle insurance premiums include the gender of the motorcycle rider. Males are considered to be higher risks than females as they tend to be considered more reckless and are more likely to speed or drive dangerously. As well, a single person is not considered to be as responsible as one who is married and settled down with a family. Your credit score can also play a factor in calculating motorcycle insurance rates. Insurance companies believe that drivers with lower credit scores are more likely to file insurance claims.
If you are a new driver and you are thinking about purchasing a motorcycle, you should do some research and obtain several quotes before you make your final decision to purchase. You should also consider enrolling in an approved motorcycle driver's training course. This will teach you the skills necessary to ride a motorcycle safely as well as give you discounts on your insurance policy.