You got yourself a new bike? Good for you! We know how exciting it is to hit the open road on a new bike. But now you need to get it insured. Now, you may think getting the cheapest insurance policy will bi fine, but that way you may take big risk. It is important to know what you need and how to save some money getting it. Remember that an accident with a bike can get you seriously injured and you may be out of work for a long time. So you need to have proper insurance to cover you. Here we will give you some tips, so you can get the right motorcycle insurance for the right price.
Know Your State’s Requirements
First of all, you need to be sure that you meet all the requirements of the state that you live in. If you are not sure what are the requirements, we can help you with that, so give us a call.
Ask for Discounts
Many companies can offer you some discounts, but you have to ask for it. There are some common discounts like:
- Mature rider discount – if you are an experienced motorcyclist you are at low risk and therefore you can get a better price
- Responsible driver – if you don’t have claims you get a discount
- Paid in full discount
- Continuous coverage – if you don’t cancel your insurance policy in the winter there will be a discount.
For the last one there is an option to change your coverage during the winter season to storage coverage instead of canceling your whole policy.
Raise the Deductible
The higher the deductible, the lower your premium. But keep in mind that you need to actually have the amount in case of an accident in order to pay it out of pocket.
Take a Safety Class or Join a Motorcycle Riding Club
You can get up to 10% off your motorcycle premiums by taking a safety class or joining a motorcycle club. Also, there are a lot of other benefits. For example, the safety class can actually help you ride better and keep your record claim-free.
Lower Your Risk
Insurance is all about the risk. If your bike is at high risk your premiums will be higher. So, consider installing an anti-theft devices and keep your bike inside a garage. You can’t expect your premium to be low if you keep your bike on the street with no lock or GPS tracking system.
Mileage
If only ride your bike on weekends or on holidays during the summer for pleasure, you can get a better rate. The risk rule is applied here as well. Low mileage means low risk, therefore low premiums.
Get The Coverage You Need
This means to only buy what you will actually need. Make sure your custom parts and equipment coverage is adequate. Many dealer installed parts are considered custom and are not part of the basic model. Don’t overpay put always insure to the value.
One thing we want to mention here and it’s important – medical payments coverage can help you pay health insurance plan deductibles if you get into an accident regardless of fault and it’s very affordable.
Ask your agent if your motorcycle insurance will cover loss of use due to an accident and if it has trip interruption coverage. This will pay for a hotel if you get into an accident and even for airplane tickets when you need to get back home.
Check if your policy covers your personal property on the motorcycle and if theft is covered for personal property. Don’t assume your policy has the coverage because policies vary between companies.
Ok so, now you know a lot more about cutting the cost for motorcycle insurance. The next step is to shop around for it. Why not start with us. Give us a call and we will offer you a plan to fit your needs. Here you can see what we can offer.