Motorcycle Insurance Articles
Tips For Setting Liability Insurance Limits On Your Motorcycle Insurance
2011-02-08
Motorcycle insurance is necessary for anyone who owns a bike and wants to ride it on a city street or highway. Unfortunately, as riders know, motorcycle insurance quotes are some of the most expensive in the industry, leading to a situation where many riders wonder if they wouldn't be better off simple not insuring their bike or selling it as the insurance costs are simply too high. While it will always be the cast that motorcycles will have a higher cost to insure than cars or trucks, there are a number of ways that riders can help to keep their costs down, and one is to consider a number of tips about setting their liability insurance limits in order to maximize insurance utility and minimize costs.
Motorcycle insurance is more expensive than car insurance for the simple reason that riding a motorcycle is more dangerous than driving a car. An accident with motorcycle, even at low speed and on dry pavement, can result in serious injury to rider and extensive damage to a bike. Because of this, motorcycle insurance companies increase the cost of coverage in order to offset the potential loss they are facing. One of the integral parts of any insurance quote is liability insurance limits. These are the maximum amount that a company will pay for certain events in an accident such as injury the rider of the bike, injury to another party and overall damage. It is these limits that riders can adjust in order to lower the amount they pay.
Riders must understand that they do have to carry a certain amount of liability as mandated by their state. Each state demands a different dollar figure for coverage and a reputable provider will not let their clients drop below that; if they do, the insurance will become null and void. Within that allowable limit, however, riders can lower the level of coverage they have for their own injuries or for the amount that will be paid if an underinsured or uninsured driver hits them. By lowering their livability coverage levels they will in turn lower their monthly premium as the cost that will be paid by their insurance company will be far lower overall. This can be a great way to save money so long as a rider is careful about what they cut and when they cut it.
While getting rid of liability entirely is impossible and would be extremely dangerous were it permitted, reducing the amount of liability insurance coverage on a motorcycle insurance policy can help riders to save money while still allowing them to stay safe and sound on the roads no matter what they may encounter.