Motorcycle Insurance Quote Shopping Tips
What you should know about shopping for motorcycle insurance, including how to get the cheapest quotes. How insurance companies price motorcycle insurance and more.
- How do insurance companies rate insurance for motorcycles?
- Do I need a license to get insurance for my motorcycle?
- Why is full coverage for my bike so much more expensive than liability insurance?
- Is it better to get a motorcycle insurance quote from an agency?
How do I find insurance quotes with the best rates?
How do insurance companies rate motorcycle insurance?
Bikers’ insurance is priced by insurance companies in a way that is similar to auto insurance, with a few differences. Here is a list of the most important things that affect your rates….
- Zip code: Areas with a history of more losses have a higher rate.
- Date of birth: Age brings wisdom and safety
- Experience driving—More experience means lower rates
- Marital Status: Riders who are married pay a little less.
- History of violations: The more violations, the higher the premium
- Requested coverages – Better coverages mean higher premiums
- Motorcycle Value: Only when full coverage is bought
- CC Size – Size matters, bigger engines pay more
- Cycle endorsement date – the date you got a motorcycle license
- Ask your company about discounts and other rating factors.
Do I need a license to buy insurance for my motorcycle? You don’t need a motorcycle license to buy riders insurance, but having a motorcycle license will affect how much you pay. Having a class M license shows the insurance company that you are an experienced rider and less likely to get into an accident. The rates go down the longer you have had your motorcycle license. Even if you don’t have a license, you can still get motorcycle insurance from many companies, but you’ll have to pay more than people who do have a license.
Why is full coverage for my bike so much more expensive than liability insurance?
Full coverage insurance for a motorcycle is so much more expensive than liability insurance because of the risk that comes with it. Remember that liability insurance only covers other people and not your bike. Full coverage, on the other hand, covers your bike as well as your liability. If you hit someone with your motorcycle, your insurance company will have to pay for the injuries and property damage you caused. How much damage can a motorcycle really cause? That’s why most motorcycle liability insurance is so cheap. The rates you pay for liability are based on how much damage you can do with your bike. Now, when it comes to full coverage, things are very different. Almost any kind of accident will do a lot of damage to your bike, which you would have to pay for. This would make your rates go up a lot. Get prices for both of them and compare them before making a choice.
Is it better to get my motorcycle insurance quotes from an agency?
There are many good reasons to use an agency. Most agencies work with more than one insurance company. These companies have different rules, like different types of risks, offer different discounts, and more. A comparative rater lets agencies put your information in and see the rates of all the companies they work with right away. Most insurance agencies will do everything they can to help you find cheap motorcycle insurance, including, but not limited to, giving you all the discounts they can.
How can I find the cheapest quotes for a motorcycle?
When getting quotes for any kind of insurance, you want to give the most accurate information you can. You should do this because a company that says it has the lowest prices if you don’t have a ticket isn’t always the cheapest if you do have a ticket. Every company has its own way of figuring out rates, so when you’re shopping around for motorcycle insurance, be sure to give accurate information, especially about any tickets you’ve gotten in the past, so you can compare rates that are accurate. Also, take the time to get quotes from at least three different companies to get an idea of how much you should pay. Lastly, make sure to get a quote from at least one agency. An agency can get quotes from multiple companies at once, so with one phone call you can get the best price from many different agencies. Most of the time, insurance agents can also offer discounts and help you find the best deal on motorcycle insurance.