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Motorcycle Insurance Information and Tips
from: ...Tip! Check all of the details of your full coverage motorcycle insurance policy to make sure that it does not cover the gap between the market value of your motorcycle and the value of your motorcycle loan. A very small percentage of motorcycle insurance policies cover the value of your motorcycle for the first year without considering depreciation.
If you have been looking for motorcycle insurance, you've probably noticed how similar it is to insuring an automobile. Motorcycles are a lot of fun, economical to ride and they give you the ability to experience freedom on the road. However, just like any vehicle, you must at least be minimally insured to be allowed on the road to protect yourself, others and your motorcycle investment. You have the option to shop around to find cheap motorcycle insurance, regardless, there are many factors affecting the premium of your policy.
Motorcycle Insurance Premiums Usually Vary According To ;
- Number of years riding experience
- Your age
- Value of bike
- Type of bike - cruiser, touring, sport, sport/touring
- Driving record, previous claims - tickets, accidents, etc
- Where you reside - High crime areas will result in higher premiums
- Engine size of motorcycle - commonly under 500cc, 500-750cc, 750-1000cc and 1000 and up
- Commute - Whether or not you commute to work and amount of mileage you ride
- Training - Whether you have taken a motorcycle safety course or special training
- Number of years consistently insured
With many companies, you may find that motorcycles are considered to be high risk vehicles, and depending on the size, power, make and year, motorcycle insurance may seem a little costly to some. Get a motorcycle insurance quote and make a few rate comparisons, but cheaper may not necessarily better, depending on what you get. Motorbikes are very fast, and could be somewhat intimmidating to an inexperienced rider. If this applies to you, a great way to obtain cheap motorcycle insurance is to take a riding course and purchase a basic motorcycle that is a few years old with less power. This will keep your premiums low while you learn to handle a motorcycle and accumulate some experience. An older motorcycle may not require as much coverage as a sporty and flashy new one.
Tip! If you entered a zero down payment motorcycle loan especially for an extended term like 48-84 months gap insurance is probably a good idea for you. On the other hand, if you put a large down payment down with your motorcycle loan your probably better without gap insurance.
Types of Motorcycle Insurance Coverage commonly include ;
- Liability - in an accident, covers damages to others ;
- Passenger liability - covers injuries and bodily harm to passengers ;
- Uninsured motorist - protects you from drivers with insufficient or no insurance ;
- Medical expenses - due to an accident ;
- Collision and Comprehensive - Pays for the repairs or the replacement of your motorcycle, as well as protects against fire, theft and vandalism. Additional insurance may be required to protect any modifications done to your bike, equipment other than standard equipment and more.
Tip! )Locality. This factor also matter in the computation of the cost of your motorcycle insurance.
Motorcycle insurance policies can be quite flexible considering their level of risk due to theft and danger. An older, more basic one will alter your chances of finding cheap motorcycle insurance. This could be a good option for beginners until they get a few years of riding experience under their belt. You could save a considerable amount.
Dean Cecere is author and owner of InsuranceCoverage-Quotes.com Where you will find helpful information regarding most types of insurance.
Motorcycles Insurance News
Safety Motorcycle Rate Settlement With Massachusetts Affects Profitable 4Q - Insurance News Net (press release)
Safety Motorcycle Rate Settlement With Massachusetts Affects Profitable 4Q Insurance News Net (press release) Safety Insurance Group Inc. said an agreement it made with the Massachusetts Attorney General to change how the company calculated motorcycle insurance ... |
Safety 4Q Net Dips On Lower Earned Premiums, Settlement - National Underwriter Property And Casualty Insurance News
Safety 4Q Net Dips On Lower Earned Premiums, Settlement National Underwriter Property And Casualty Insurance News ... approximately $7.2 million to policyholders as a result of the way in which the company calculated motorcycle insurance premiums dating back to Jan. ... |
Mass. Settles With Insurers Over Motorcycle Premiums - Insurance News Net (press release)
Mass. Settles With Insurers Over Motorcycle Premiums Insurance News Net (press release) ... 2 that the state settled with four more insurance companies related to allegations that the insurers overcharged residents for motorcycle insurance. ... |
AMA News & Notes: April 2010 - American Motorcyclist
AMA News & Notes: April 2010 American Motorcyclist Massachusetts: The Massachusetts Motorcycle Association (MMA) announced on March 2nd that four additional insurance companies have agreed to refund about $9 ... |
4 more insurers settle overcharging claims - Boston Globe
 Legal News Line | 4 more insurers settle overcharging claims Boston Globe ... companies reached settlements with the State of Massachusetts yesterday over allegations that they overcharged consumers for motorcycle insurance. ... Coakley, motorcycle insurers settle Coakley revs up refunds for state's motorcyclists More Insurers to Return Money to Motorcycle Policyholders in Massachusetts |