The quality of your motorcycle insurance depends on the quality of the insurance companies you consider. Whether you're a sport rider, touring-bike enthusiast, or chopper fan, choose companies that are specialists in motorcycle insurance. Be proactive and review motorcycle insurance rates from a variety of companies on an ongoing basis. It's easy - request online quotes via the Internet from the industry's top companies and then compare them for free to make sure that you're still getting the best deal from your motorcycle insurance company. If not, then switch companies.
What to know about motorcycle insurance companies...
Motorcycle insurance companies base policy premiums on the prospective policyholder's age, training, driving record, and bike. Riders with clean records and proof of training from approved programs pay lower rates. Riders under 25 years of age insuring extreme sport bikes can expect to pay more. Geography also affects pricing.
Companies that specialize in motorcycle insurance often offer specialized forms of coverage. Examples include Guest Passenger Liability, Custom Parts and Equipment, and Uninsured or Underinsured Motorist coverage. The latter covers bike damages, medical expenses, and lost wages.
Most bike insurance companies do not allow riders to insure two bikes on the same policy, meaning riders must take out a policy on each bike they own. However, two policies with the same carrier can reduce rates.
Some companies do not offer collision or comprehensive coverage for Special Constructions, custom bikes assembled by the rider. Companies also will not cover collision damages to a bike if the rider involved in the accident is not named on the policy.
How to lower insurance company premiums...
Use the Internet to compare motorcycle insurance quotes. Often costs for similar policies from different companies will vary. Request insurance company referrals from your local motorcycle shop or builder.
Join motorcycle associations, making you eligible for insurer discounts. Qualifying associations: American Motorcycle Association, BMW Motorcycle Owners of America, Harley Owners Group, and Motorcycle Safety Foundation.
Complete driver training programs related to your type of riding, such as touring or off-roading. Doing so can reduce your motorcycle insurance premiums as much as 15 percent. This is critical for high-risk groups, such as riders under 25, or those with spotty records.
Store your motorcycle inside and perform regular maintenance. Bikes parked outside are more prone to theft, increasing insurer risk. Aging, deteriorating bikes break down more frequently, raising motorcycle insurance rates.
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