Motorcycle Insurance Articles
How The Type Of Bike You Ride Affects Your Motorcycle Insurance
2011-10-21
Auto insurance and motorcycle insurance coverage may seem like they are similar, but there are some aspects of both that differ. However, one aspect of both auto and motorcycle insurance is that the type of vehicle being driven determines the overall cost of the policy. In the last few years, motorcycle insurance has been on the rise because the number of motorcycle-related accidents has risen. Additionally, there are many riders who opt to not obtain a policy so that when there is an accident, there is no insurance to pay for the damages. This has also caused motorcycle insurance rates to rise. One of the factors that also determine the rate a rider will pay is the type of bike they ride. Motorcycle insurance quotes are based on a number of factors and the type of bike is one of the most important when it comes to the cost of motorcycle insurance. Knowing how the type of bike one drives affects their insurance is very important.
Motorcycle insurance quotes need to be filled out as thoroughly and with the most accurate information possible in order to get a fairly accurate quote for a policy. This includes providing the exact information about the bike a rider has, the year and any modifications that have been made to it. Not only will the rate of the policy be dependent on this information, but the type of insurance coverage as well.
As most riders know, there is a large variety of bikes available to ride. The bikes that will cost riders the most to insure will be the speed or racing bikes. The faster a bike is, the more the insurance company will charge a rider to keep that bike insured. Although the costs of insuring a bike are much less than when insuring a vehicle, the costs can still add up. Bikes meant for speed are more dangerous and the riders that own them tend to want to use their bike's speed often. This means that there is a higher chance the bike will be involved in an accident and more of a chance the insurance company will have to pay out.
Modifications to a bike can also affect insurance premiums. If a rider has a basic Harley Davidson cruiser bike, but decides to make modifications to the bike, they could cost them more money in insurance costs. Most modifications are meant for speed, while others are meant for more aesthetic reasons. However, the insurance company sees all modifications to a bike as a possible hindrance in performance and a higher chance of an accident occurring. This is why modifications on any type of bike will affect insurance costs.