Riding a motorcycle can be some experience. The feel of the open road, the wind in your hair, and the sheer power of the engine make motorcycles appealing to many riders. I guess you know that motorcycle insurance quotes are usually higher than car insurance. This is because motorcycles are considered higher-risk vehicles by insurance companies.
Do you know that, there are things you can do to get lower motorcycle insurance quotes. In this blog post, we’ll explore tips for finding the best motorcycle insurance rates.
Why Motorcycle Insurance is More Expensive
Insurance companies look at various factors when determining motorcycle insurance quotes. Some key reasons why motorcycle insurance tends to cost more include:
- Increased Risk of Accidents
Motorcycles provide less protection than a car or truck. There is no metal frame or airbags to protect the rider in a crash. This puts motorcyclists at higher risk of injury or death if an accident occurs. Insurance companies charge more to cover this increased risk.
- Higher Theft Rates
Motorcycles are easier to steal than cars because they can be lifted into trucks and vans. They also lack anti-theft devices like car alarms and ignition kill switches. The higher chance of theft raises rates.
- More Expensive Repairs
The parts and mechanics skills needed to repair motorcycles are more costly than auto repairs. Replacing motorcycle gear like helmets and leathers is also pricier. Insurers pass these increased costs on through higher premiums.
- Common High-Risk Riding
Some riders take more risks like speeding, weaving through traffic, or popping wheelies. High-risk riding may lead to more claims. Insurance companies protect themselves with higher motorcycle insurance quotes.
- Younger Riders
Statistically, younger motorcycle riders under 25 get into more accidents. Teen motorcycle insurance rates are often sky-high as a result.
Tips to Get Cheaper Motorcycle Insurance Quotes
While motorcycle insurance will likely cost more than auto insurance, there are things you can do to get lower rates. Here are some tips:
Take a Safety Course
When you complete a motorcycle safety training course, it can earn you a discount on motorcycle insurance. Courses teach critical skills for operating bikes safely. Insurance companies often reward safer riders with lower premiums.
Maintain a Clean Driving Record
Drivers with accidents, traffic violations, or DUIs on their record pay more for motorcycle insurance. Maintaining a clean driving history shows insurers you operate your bike responsibly and safely.
Increase Your Deductibles
Choosing higher deductibles like $500 or $1,000 can substantially reduce insurance rates. Just be sure you have savings to pay the deductible if needed.
Drop Unnecessary Coverage
Removing extras like roadside assistance, rental reimbursement or accessory coverage can trim costs. But don’t cut out critical coverages like injury, collision, comprehensive, or uninsured motorist protection.
Buy Older Bikes
Insurance for newer motorcycles costs more due to higher repair costs. Consider an older model to enjoy classic riding at a lower rate.
Increase Security
Adding anti-theft devices, bike alarms or LoJack recovery systems can qualify you for theft-prevention discounts of up to 15-20%.
Maintain Good Credit
Most insurers check credit when issuing motorcycle insurance quotes. Maintaining a high credit score demonstrates responsibility and can mean lower premiums.
Bundle Your Insurance
If you insure multiple vehicles through the same provider, you can often enjoy multi-policy or multi-vehicle discounts. Bundling motorcycle and auto insurance together can save substantially.
Research Discounts
Many insurers offer discounts to veterans, members of riding associations like the American Motorcyclist Association, or riders who complete a motorcycle training course. Ask potential providers what discounts they offer.
Compare Quotes
Getting motorcycle insurance quotes from several insurers is the best way to find the lowest rate. Rates can vary dramatically, so shop around for the most savings.
Limit Your Miles
The less you ride, the lower your risk of having a claim. Consider a mileage-based motorcycle insurance policy if you ride limited miles annually.
How to Get Motorcycle Insurance Quotes
Here are some tips for getting comparative motorcycle insurance quotes:
- Contact insurers directly – Get quotes from large national carriers like Progressive, Geico and State Farm. Check rates from smaller regional and local motorcycle insurers too.
- Use an insurance comparison site – Websites like TheZebra, Gabi, and PolicyGenius allow you to get quotes from multiple insurers at once. This simplifies the process.
- Work with an independent agent – An independent insurance agent shops rates with multiple carriers. They can present quotes from companies you might miss when shopping alone.
- Analyze policy costs and coverage – Look beyond just the premium cost. Review the policy’s deductibles, coverage limits and exclusions too. Don’t just choose the cheapest quote.
- Consider bundling – Many insurers discount rates if you bundle motorcycle insurance with other policies like auto or homeowners.
- Check for discounts – Ask each insurer what discounts they offer so you don’t miss potential savings.
Conclusion
Getting motorcycle insurance quotes from several providers ensures you find the best coverage at the lowest premium. Spending time shopping around can result in hundreds of dollars of savings annually.
Follow the tips outlined to secure cheaper motorcycle insurance. Then you can hit the open road worry-free. Ride safe!
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