Motorcycle Insurance Articles
Three Simple Ways To Be Safe And Keep Motorcycle Insurance Costs Down
2011-04-08
The most obvious way to keep motorcycle insurance costs lower is to create a safe driving record. Insurance companies look closely at those records to ascertain if a potential client can be issued a motorcycle insurance policy. Insurance companies see the past as prologue, and figure a person's driving record isn't going to change much in the future. Having accidents and getting issued traffic citations won't encourage any insurer to write you a policy.
Maintaining a clean driving record will earn some points with an insurance company. Even if you have been riding a bike for some time, with a good to average driving record, insurers may be inclined to offer a discount to your motorcycle insurance policy if you sign up for safe driving classes.
Another way to trim motorcycle insurance costs is to purchase the smallest level of coverage set by the state for personal injury and property damage. It's possible to save money by trimming the level of liability coverage you pay for, being careful not to go overboard and possibly leaving yourself open to considerable expense should an accident you caused bring about large settlement costs.
Some savings for motorcycle insurance can be had by packaging all the various insurance policies you paid for into one. Home insurance, health insurance, car insurance and motorcycle insurance can be combined in coverage offered by a single provider. Owning more than one bike can also contribute to lower insurance costs based on a per vehicle standard.
You can join a motorcycle association and get a favorable response from your insurer. These groups work with insurers to obtain that members get preferred treatment when rates are set. Don't join anything until you make sure the association you're looking to join is actively involved in working with insurance companies to trim motorcycle insurance costs for its members.
How and when you use a motorcycle can have a bearing on what insurance will cover. Riding mostly in summer months will usually cause insurers to discount rates. Also, don't go for insurance that will pay for the entire replacement of a damaged motorcycle. Figure out how much of the replacement cost you can afford and work from there. If your bike is an older model, with a subsequent depreciated value, you can really save money by agreeing to take on a bigger chunk of any possible damage costs that might arise.
Be aware that a financed motorcycle will have a more costly insurance policy because the lender may insist that collision and comprehensive coverage be included in the policy. Once the loan is paid off, alert your insurance company to kill the lender's demands.