Motorcycle Insurance Articles
How To Compare Motorcycle Insurance Options For Rare Bikes
2012-01-06
Although it was once extremely difficult to compare motorcycle insurance for rare bikes, it's now a much easier process thanks to the Internet. Most motorcycle insurance companies will provide policies for almost any bike including hard-to-find models and, by comparing quotes, riders can ensure that their prized bikes are properly protected without overspending.
Standard motorcycle insurance comparison websites are a great resource for looking at coverage options. These websites collect information about a bike model and the rider's record and run it through a number of insurance company quote generators. Many will support rare bikes and older bikes and present a list of insurance quotes arranged by premium cost or by coverage availability. At this point, it should be fairly easy to find the best options, but rare bike owners will also want to call a few of the listed insurance providers to discuss options and to make sure that each policy is roughly similar. Rare bikes will need more comprehensive coverage and collision coverage than normal, which will lead to higher-than-average costs. Riders who can afford to pay large deductibles after an accident might consider high deductibles as an option for keeping costs low when buying relatively large amounts of comprehensive and collision motorcycle insurance coverage.
If a bike is extremely rare or valuable, some motorcycle insurance companies may refuse to insure it or may ask riders to contact them directly for quotes. However, while this is common for classic cars, it's fairly uncommon for even rare bikes due to value differences. Even so, riders who have extremely rare bikes should talk to an insurance agent to get specific advice and, as insurance costs can be exceptionally high for some rare older bikes, it may be worthwhile to speak with several insurance agents to discuss premiums. It's also a good idea to ask about the cost of simply making a claim under high-coverage policies for rare bikes, as sourcing parts and repair shops can sometimes lead to major expenses. Although these expenses are covered under motorcycle insurance policies, they're still important to know and understand.
When motorcycle insurance companies are charging extremely high premiums for rare bikes, riders have several options for bringing their rates down without restricting coverage. Taking a motorcycle safety course can often lead to a big discount, for instance, and some motorcycle insurance companies will offer discounts for riders who buy more than one type of insurance such as homeowner's insurance. Talking to an insurance agent is the fastest way to find out about discount programs and, when riders compare motorcycle insurance options before asking about discounts, the total savings can be significant over the life of a policy.