Motorcycle Insurance Articles
Why Motorcycle Insurance Has Lower Property Damage Premiums
2010-06-01
While the economy is in a bad state, many people are looking for simply ways that they can save a few dollars. Because of this, many people have looked away from automobiles and moved toward purchasing motorcycles. The reason for this is because automobiles are very expensive in order to insure. Motorcycles are less expensive to insure than automobiles and they are required to be insured by law. With this being the case, motorcycles are an inexpensive alternative to automobiles because motorcycle insurance has lower property damage premiums. This translates into lower insurance rates and more affordable motorcycle insurance. Many people wonder why motorcycle insurance has lower property damage premiums and there are a few reasons.
Property damage premiums are typically the most expensive aspect of insuring a vehicle and when property damage premiums are lower this means the overall cost is lower. Someone looking to save money will note that property damage premiums are lower on motorcycle insurance. Motorcycles weigh less than the average automobile and this means that damage is less severe. Property damage is based on the damage caused when a crash happens and motorcycles have less mass than the average automobile. Many motorcycles are very light and weigh just a few hundred pounds. Automobiles weigh thousands of pounds on average and a car crash has the potential to cause a lot more damage. This is the basis of why motorcycle insurance has lower property damage premiums.
Also, a motorcycle that crashes into a house will not cause much damage because of the lightweight material. The motorcycle typically will not do a massive amount of harm during the crash. However, an automobile crashing into a house would cause a significant amount of damage and harm. The lower ability to damage property means that motorcycles have lower property damage premiums. Property damage insurance is less expensive when compared to motorcycle insurance because the rate of accidents with motorcycle is lower than automobiles. There are a few thousand accidents that involve automobiles every day on the road, only a few hundred of these involve motorcycles and this translates to lower motorcycle insurance premiums. Property damage insurance is easy to understand, it is based on how much damage will result if a crash happens. It also factors in the likeliness of a crash happening that will result in damage.
Because automobiles typically cause more accidents than motorcycles, the benefit is lower motorcycle insurance premiums. Many people have trouble understanding property damage insurance; the concept is easy to understand. In order to understand the lower motorcycle insurance programs, you should understand the expected value of safety that a motorcycle. An automobile has higher premiums because of the more frequent rate of accidents.