In finding the better motorcycle insurance rate will take some extra effort. Motorcycle in itself is already risky so a cheap insurance for your bike will entail some work. But with proper information, you will obtain a cheap insurance that will be specific to your needs as a motorcycle owner and driver.
Here are the tips to get a better rate for your motorcycle insurance:
1. Before you acquire insurance rates, assess the motorcycle first. Get all the information as much as you can on your bike so that when you get an insurance quote you have the right information at hand. This information will serve as basis for your insurance coverage. If your motorcycle is new, then the coverage is higher, more so with faster motorcycles or sports bikes. If the bike is older or second hand, it will have a lower market value thus lower coverage and lower premium. Remember a motorcycle bought with a loan requires a comprehensive coverage on top of the standard liability.
2. Know the circumstances of owning a motorcycle. This can also give you a more affordable insurance premium. If you are just starting to drive a motorcycle, then you are more at risk so the increase in premium but if you have been riding a motorcycle for a number of years without any accidents on your driver’s record then you will get a discount on your premium.
3. Another way to lower your insurance rate is to increase your deductible but make sure that you can afford the high cash out when you file a claim. If you do not plan to have a guest passenger on your bike, you can opt to eliminate the coverage of another passenger.
4. Other ways to lessen the premium are as follows: take safety courses from the Motorcycle Safety Foundation; park your motorcycle in the garage during the day and especially at night; add a security device to your motorcycle that can prevent theft; fewer miles covered in a year; being a member of a motorcycle association and no motorcycle use on winter season for a ‘lay up discount’.
5. Get quotes from insurance companies online that are also found in your area. You want to get insurance locally so as to avoid hassles when you get out of the state you live in. Don’t just rely on the online quotes, get also insurance quotes by calling insurance companies near you. Better insurance quotes may be given to you not necessarily by the top insurance companies. List up at least three quotations of motorcycle insurance coverage with the specifications you prefer if standard liability does not work for you.
6. If you already have an insurance other than the one you plane to get like auto, health or other types of insurance, talk to your insurance agent. Chances are he can give you a discount as you are bundling up your insurance in one company. You get a lower premium for being loyal.
As insurance is necessary in most of your future needs, do not hesitate to know the complexities of an insurance policy. Knowing your insurance coverage is the best way to ensure that your motorcycle insurance rate is worth the money you paid.