Motorcycle Insurance Articles
How The Top Speed Of A Motorcycle Can Change The Cost Of An Insurance Policy
2010-05-06
For decades, motorcycles have been iconic of rebellion, mystery, speed, freedom and romance. They have been featured in movies, television and print and have spawned millions of adoring fans and aspiring motorcyclists. Part of the mystique of owning and riding a motorcycle is the element of danger involved in their handling. A motorcycle's innate capability for extreme speed combined with its lack of a protective structure that an automobile has can lead to a lethal combination. Because of the high rate of motorcycle accidents, it is imperative for owners of motorcycles to purchase motorcycle insurance coverage to offset damages or loss in the unfortunate event of an accident.
When pricing out the many differences in a motorcycle insurance policy, there can be wide spectrum of information that is utilized by insurance companies to determine how much the policy will cost the driver and the insurance company itself. If the motorcycle or the driver is deemed to be more dangerous or potentially hazardous, the policy will cost more because the insurance company has a higher probability of having to pay out in the event of an accident.
Insurance companies consult a massive amount of statistics to determine which models of motorcycles and which drivers are at a greater risk for accidents. For instance, some colors of motorcycles are less noticeable to automobile drivers causing them to be hit more often by automobiles. Another major factor in the price of a motorcycle insurance policy is the capability of the motorcycle itself. If a motorcycle's maximum speed is lower, that means a motorcyclist will be unable to reach certain speeds which are dangerous and could result in crashes. This lowers the probability that a biker will be involved in a crash and thereby lowers the risk for the insurance company. However if the bike's maximum speed is excessively high, that could mean that the driver has a penchant for attaining high speeds and may not be the safest driver. This also means that the bike itself is capable of being more dangerous than if it had a lower maximum speed. This, in turn, means that the insurance company is at a greater risk for having to pay out in the event of an accident and will therefore charge the driver more for the premium.
Regardless of the speed of the motorcycle or the skill level of the driver, it is absolutely necessary to insure your purchase with motorcycle insurance coverage and there are many insurance companies that can quote you affordable plans that will cover a wide variety of insurance needs. Doing a bit of research will yield numerous quotes that range in affordability and coverage, and is definitely worthwhile.