Owning a motorcycle is an exciting hobby, but it can also be an expensive one. One major expense is motorcycle insurance, which is often expensive since motorcycles can be seen as riskier than cars by insurance companies. Thankfully, there are things you can do to proactively lower the cost of your motorcycle insurance. Here are four ideas to try:
Take the Time to Shop Around
Motorcycle insurance rates vary a lot, so it's a good idea to shop around and get several quotes before you sign up with a carrier. In some cases, your car insurance company may offer a discount if you bundle your motorcycle insurance with your car insurance policy, but this doesn't always work out to be the lowest price. Get quotes from both big insurance companies and smaller companies that specialize in insurance coverage for motorcycles.
Join a Motorcycle Club
Some insurance companies give discounts if you are a member of a motorcycle club, such as the American Motorcyclist Association. You will most likely need to ask your insurance company if they offer a group membership discount and also provide proof of membership. Motorcycle clubs offer many other advantages, including the chance to socialize and ride with other members.
Discuss Your Mileage With Your Carrier
Most insurance carriers will charge you less if you only ride your motorcycle occasionally, compared to if you commute on your bike to work every day. If you only bring the motorcycle out of the garage for a few rides a month on sunny weekend afternoons, let your insurance agent know this and see if if they can offer you a mileage discount. The reasoning behind this discount is that the less you ride, the less likely it is that you will get into an accident.
Take a Motorcycle Safety Class
Volunteering to take a safety class can also earn you a discount with many insurance companies. These classes focus on how to drive your motorcycle as safely as possible. You will learn techniques for dealing with bad weather, wearing the right helmet and safety gear, and riding defensively even when car drivers are aggressive or make you feel unsafe. You will not only feel safer and more confident on your motorcycle, but you pay less in motorcycle insurance as well.
Instead of just accepting the first rate for motorcycle insurance you come across, implement these tips to lower your bill while still getting great coverage.
When you start thinking about getting insurance, it can be overwhelming to hear the advice from family and friends. While some people might encourage you to stockpile money and insure yourself, others might warn about the expense of paying for car repairs or a stay in the hospital. However, even the most conservative financial experts talk about the importance of having sound insurance. Because it can be difficult to find the right policies, I decided to create a website completely dedicated to providing free information about insurance. Every situation is different, but if you are like most people, you will need a decent homeowners, medical, auto, and life insurance policy to protect you from unforeseen circumstances.