It isn't always easy to choose the right insurance carrier to handle your needs - especially when the automobile you're trying to insure isn't an auto at all, but a motorcycle.

Shopping for any kind of insurance can be tricky. Companies have the tendency to offer different types of plans, making it difficult to know which ones offer the same basic benefits for the same price. It isn't uncommon for one insurance carrier to offer you a policy at one price, and another carrier a totally different price for what appears to be the same coverage. The reason? It isn't always apparent. Maybe the higher priced agency offers full replacement value should your motorcycle be stolen or totaled in a crash, while the other carrier only pays the amount the bike was worth at the time of the accident - which can leave you paying thousands in extra costs to buy a new bike similar to the one that you lost.

Another difference may be in the deductible being offered. The higher the deductible, the lower the insurance rate. But, be careful. It's always a good idea to carry the lowest possible deductible that you can afford, since this is money straight out of your pocket in the event of a claim......

It's always important when shopping for any type of motorcycle insurance to check out the laws in your particular state to see what you are legally required to carry, in order to avoid buying more coverage than you actually need.

The first thing you'll have to decided when purchasing motorcycle insurance is what type of coverage you want and need. If you've taken out a loan to buy your bike, your creditors will more than likely require you to purchase full coverage until the loan is paid in full, but if you were lucky enough to pay cash for your bike (or handle financing in some other fashion), than you may be able to decided exactly how much insurance you really need and want to pay for.

Liability coverage allows you to carry a low premium, but keep in mind it doesn't cover any of your costs associated with an accident, theft or vandalism. It is basically a policy to cover the other guy and any costs you may find yourself responsible for.

Collision insurance will help pay for the replacement or repair of your own bike should something happen to it, and full, or comprehensive coverage pays for everything, including heft, vandalism and all costs associated with any accidents you may be involved in.

Once you decide on the type of insurance you want and the deductible you're comfortable with, it's time to start shopping around. The best way to find a good deal is to talk to other bikers in your community to see what carrier they use and what cover ages they carry. After that, the decision is yours. The important thing is to get what you need for a price that you can afford.

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Motorcycle Insurance Coverage - Choosing Insurance for Your Bike


William Clay Marshall said...

Other ways to potentially save on motorcycle insurance include: taking motorcycle safety courses, joining a riding club, seeing what the typical insurance rates are for the bike before you buy it (faster and more expensive bikes usually really jump up the insurance rate). The biggest way to save money is to shop around, even after you have insurance and you're just up for renewal. If you ride for 1-2 years with out an accident you may qualify for experienced/ safe driver discounts. It's also not hard to get agents to compete for you business by reducing their rates.

Anonymous said...

As you say, there are a lot of different insurance plans offered by the various companies on the market, and choosing the right motorcycle insurance policy for you can be quite a trying time.

However, don't just give in and pick the first 'decent' one to-hand, but scour the market in-depth and you'll eventually find the perfect quote for you.

I've heard that Carole Nash offer a very good service, has anyone ever used them?

commercial general liability insurance said...

I didn't find any policy that is specifically designed for motorcycles. My agent suggested me to have an auto insurance policy. I was not at all convinced as the coverage does seem to me suitable enough to cover my bike. As per your recommendation I will talk to people around me who are having bikes to know exactly about it.