Tips On How To Get The Best Rate For Motorcycle Insurance
Once you have found the
motorcycle that's perfect for you, the next step should always
be to insure your ride. Unlike passenger vehicles, a motorcycle can
suffer severe damage even in a mild accident or spill.
Additionally, several motorcycle companies did not start
instituting fork locks until quite recently, which makes several
older models prone to theft.
Simply put, you need insurance, but you shouldn't have to hand over the big bucks just to stay insured on your motorcycle. Here are some tips on how to get the best rate for motorcycle insurance:
1) Think About Storing Your Bike
One of the biggest ways your insurance
rate will go up is if you don't have a place to store your
motorcycle. Your motorcycle benefits from being stored because it
defers theft, vandalism and your ride will not suffer from extreme
weather like sleet or hail.
It's important to have a spot for your bike and it will significantly drop your insurance rate if you have somewhere to store it. If you don't have a location at your home, search sites like Craigslist or contact motorcycle shops to see if there's anywhere nearby you can keep your bike.
2) Complete All Possible Safety Courses
Technically, many states allow you to
insure your motorcycle without having a motorcycle driver's
license. For this reason, if you insure your bike before you take
the appropriate safety courses, make sure you contact your carrier
once you complete and pass to get a lower rate, Nerd Wallet
Additionally, taking extra safety courses and investing in safety gear will help you get an even greater discount because it will show the carrier that you are an especially safe rider, invested in being up to date with regulations.
3) Don't Settle On The First Rate You Receive
If you search for motorcycle insurance,
you're likely going to receive a couple calls from hungry carriers
wanting to get you sign up. It can be stressful talking to
insurance agents who want to get you immediately hook, line and
sinker with their services.
Instead, shop around and don't be afraid to say that you're doing just that. Insurance rates are based on safety courses, age, driving record, type of motorcycle, home address and your job, Nerd Wallet reported. It's important to make sure you get the best coverage for your buck.
4) Know How Much You'll Ride
If you plan on
riding your motorcycle to and from work every day or think you
will be a weekend warrior, you might want to invest in premium
insurance with a lower deductible, Rider reported. However, if you
know your riding will be limited, picking an insurance plan with a
higher deductible could be a more affordable solution.
Deductibles can range from roughly $200 to several hundred dollars. Most insurance carriers will be able to recommend the best plan for your amount of riding, but you most definitely want to be as protected as possible if you plan to ride your motorcycle on a daily basis.
5) Gain As Much Experience As Possible
Motorcycle insurance carriers like to give
you better rates when they know you can be a safe rider. The best
way to convince carriers your safe is through experience. According
to Motorcycle News, experience is possibly the biggest factor when
your rate is figured. Make sure you let insurance companies know
exactly how long you have been riding motorcycles.
The longer you've been riding, the less you'll likely pay. Again, make sure you compare rates to know if your experience is more valuable to one company versus another.