Motorcycle Insurance Articles
The Most Important Factors In Setting Motorcycle Insurance Quotes
2012-03-10
The cost of purchasing a motorcycle can be insurmountable for some, and on top of that, motorcycle insurance is not usually cheap. However, finding motorcycle insurance quotes can help new riders keep their costs down. In fact, insurance from affordable motorcycle insurance companies may be just the thing that gets new riders into their dream bike. To know how to get a good quote, however, individuals need to understand the most important factors in setting motorcycle insurance quotes.
First, motorcycle insurance companies set quotes based on the type of bike. Bikes that are more likely to be stolen or those that tend to be the vehicle of choice for daredevils will be more expensive to insure.
Second, motorcycle insurance companies look at how safe the biker is when determining the rate. This is actually more important than the bike itself. Riders who are likely to be safer will get lower rates because insurance companies know that they will be less likely to cause an accident. When setting their quotes, motorcycle insurance companies will look at age, gender, experience, past driving behavior, job and financial history. Younger people and men will have higher quotes than those who are older or female. Insurance companies make the assumption that younger people - especially younger men - will be more likely to get into accidents due to risky behavior, as this is what statistics tell them. The insurance company does not take into consideration the fact that an individual has a timid personality or has never engaged in risky behavior - they just look at statistics.
People who are experienced motorcyclists will have lower quotes than those who are new - but new riders may be able to offset their costs by taking and passing biking classes. Individuals who have more experience driving a car may get lower rates than those who begin driving on a bike, but people who have a history of risky behavior in a car will have higher quotes than those who have driven a car for quite a while and have no history of accidents or violations.
Although they may not seem relevant, motorcycle companies also look at a rider's job and financial history when setting the quote. People who have "safer" jobs and who have a responsible credit history tend to get lower quotes because they are seen as more responsible - in general.
Getting a motorcycle insurance quote can help riders save money on their cycling costs. When they get quotes, they can compare them and choose the company that will, really, give them the best rates. However, cyclists should be aware that the factors above greatly influence their quoted prices.