Taking your new motorcycle for a trip down the highway is a great way to have some fun in the sun. Motorcycles give you a lot of freedom on the road - especially if you also have the confidence of an excellent motorcycle insurance policy to go with it. Here are six tips to help you buy the right kind and how to get the discount motorcycle insurance you want, too.
1. Get several motorcycle insurance quotes
Before you start making any decisions about your motorcycle insurance, you need to be aware that each motorcycle insurance company may have slightly different coverage.
The first thing you want to do is to go get several motorcycle insurance quotes from different companies. Get about 3 or 4 quotes to start with, including the one from the insurance company where you already have car and/or home insurance.
2. Choose the right amount of liability coverage
One of the most important parts of your motorcycle insurance is the liability coverage. This will cover your financial obligations in accidents and pay for damage to other property or people. Don't just automatically opt for the minimum amount, as you may need more than that. Liability coverage should be high enough to protect you against most lawsuits, too - just in case.
You will also need to be sure that you are covered if you think you might carry passengers, too. Passengers are not normally covered. That said, keep in mind that if you do not get passenger coverage, then you must never carry passengers, either.
3. Decide how you want your bike covered
Whether or not to purchase motorcycle replacement coverage (collision) is another option that you will need to decide on. If it is an older bike, then you may not want to cover it. A lender will require you to have motorcycle insurance replacement coverage for a new motorcycle or for one you are still paying for.
4. Buy uninsured or underinsured motorist coverage
This should really not be considered an option but it is. There are so many people driving today without insurance (cars and motorcycles), that the risk is almost too high to not have underinsured motorist coverage. Without this type of coverage, your could end up with huge bills if there should be an accident with an uninsured driver.
5. Select your options carefully
You can also choose between many other options that can be convenient in certain circumstances. This can include things like towing, roadside repair, hotel stays when your bike needs repair, and more. Consider the specifics of your situation, your motorcycle and how you plan to use it before settling on any additional options.
6. Make sure to get the discounts
While you may decide that you do not need every option, make sure to be aware of every discount that may be available to you. For starters, you can usually get a good-sized discount if you raise your deductible. This can reduce your premium enough to make it more comfortable, but remember that a higher deductible means more out-of-pocket expense in the event of a claim.
And, if you want affordable rates, then you may want to stay away from the high-speed or costly cruising motorcycles. The cost of the bike will usually affect your insurance costs.
Other discounts on your motorcycle insurance can come through the safety and security features on your bike, a driver's safety course, being a member of a motorcycle club, multi-vehicle discounts, keeping your motorcycle in a locked garage at night, and more. Be sure to research the different discounts that may be available with your policy.
See also: Compare motorcycle insurance quotes
