Motorcycle Insurance Articles
Three Available Discounts To Lower Motorcycle Insurance Rates
2010-10-05
Motorcycle owners can take advantage of insurance discounts and get attractive rates by knowing what to look for when shopping for motorcycle insurance quotes. Learning what discounts are available can lead to significantly reduced premiums. All fifty states require that motorcycle owners have a prescribed minimum of liability coverage just as they do for automobiles. In the event of an accident caused by a motorcycle, the rules of payment to the injured party make the cyclist responsible. It is not only good sense to be covered, it is the law.
Motorcycle insurance is similar to auto insurance in terms of the types of coverage that are available. Much of the coverage is optional; the only exception to this is liability insurance. The optional coverage allows the owner to purchase only the specific types of insurance that address his or her needs. In addition, various types of coverage can be added, dropped or modified. Deductibles can be increased or decreased and limits can be raised or lowered. Among the options are collision which pays for damage to the motorcycle, comprehensive which pays when the cause is beyond the driver's control and uninsured/underinsured motorist which helps to pay when damage to the motorcycle is caused by another driver who is not properly insured. The choice of coverage options determines the cost of the policy. Insurance companies offer various insurance discounts ranging from low mileage, mature driver, organizational discounts and suspended coverage. Of all options, these three are offered by virtually all companies and can result in real savings.
The first is the Multiple Policy Discount. Insurance companies are happy to offer reduced premium rates to customer who have all of their policies with their company. By combining motorcycle insurance with home owners, condo or rental insurance; flood insurance where necessary, valuable items policies and others, the cost of coverage can be reduced by as much as 30%. Another way to save on motorcycle insurance quotes is to have all vehicles insured by the same company. The Multiple Vehicle Policy will save up to 30% on premiums if several vehicles are covered. Include automobiles, ATV's snowmobiles, boats and any other type of vehicle to get the best insurance discount. Finally, take a safe motorcycle driver's course. All insurance companies will offer reduced premiums for drivers who have successfully completed one of these courses. The savings will range from 5% to 15% depending on the company.
Motorcycle insurance is essential for the responsible driver to protect himself, his vehicle and other drivers on the road. Good coverage need not expensive if the coverage is designed to incorporate some of the excellent insurance discounts options offered by most quality insurance companies.