Owning a motorcycle is a dream of many. If you make this dream a reality, there are several things you need to do to be a safe, legal driver. One of the most important things is being covered by a reputable insurance plan. Motorcycle insurance can be expensive, but it does not have to be. Here are some ways to find cheap motorcycle insurance.
The first step to finding cheap motorcycle insurance is to be knowledgeable about the insurance industry. The information can be confusing and many people find they are drawn into an agreement that is not very beneficial. One of the most important things to look for when shopping for cheap motorcycle insurance is that the policy covers both the bike and the rider.
The Cost of the Bike Affects the Cost of Cheap Motorcycle Insurance
Insurance companies rates each client based on several factors, including their motorcycle. The flashiest bikes attract a heavy insurance policy and premiums. It will be difficult to find cheap motorcycle insurance if riding the fanciest and most expensive of bikes. Choosing an older, but still safe and reliable bike can save you money on insurance.
Experienced Drivers Enjoy Cheap Motorcycle Insurance
Many insurance companies take into consideration a client’s age. The younger a driver the more expensive their rates. Older drivers are also at risk for higher rates. Insurance companies take into account the experience and risk of a driver, which statistics show is affected by age. Insurance agencies also raise rates for those who have been in crashes or accidents while driving or riding. These clients are considered high-risk, so they have little hope of finding cheap motorcycle insurance. However, as time passes and their driving record stays clean, insurance rates can decrease.
Parking Your Bike
Insurance agencies charge less when the risk of damage to a bike is decreased. They might offer a better rate if your bike is locked in a garage or shed, and not on a street or in the driveway. The safety of your neighborhood also affects your insurance rates. If there is a high incidence of motorcycle or vehicle theft in your area, your rates are likely higher. Though you might not want to move just to find cheap motorcycle insurance, you can make arrangements for storing and securing your bike to lower your insurance rate.
Examine Your Policy
Make sure the coverage offered in your policy is only what you need. Sometimes drivers are covered for, and are paying for, things without even knowing it. You can also reduce your rate by combining the policies of your car and motorcycle. If you already have car insurance, speak to your agent about adding your motorcycle to the policy as well. Discounts can be given once you are insuring more than one vehicle. Finding cheap motorcycle insurance will take some research, but it is worth shopping around. Cyclists can find a reasonable deal on a reliable insurance policy that protect their bikes and their bodies. Do not settle for any cheap motorcycle insurance that does not offer the coverage and protection that you need.