Check Out 5 Interesting Motorcycle Insurance Facts

If youare an enthusiastic biker and like to travel on two wheels frequently, it is very important to invest in the right type of motorcycle coverage at the right time. A great policy in your price range allows you to get ready to face the unforeseen and a wide range of threats, including theft, acts of vandalism, extreme weather conditions, fire or flood damage and traffic accidents.

To make an inspired decision, it is highly recommended to do a fair amount of research before signing on the dotted line. If you are worried that a full coverage could overbalance your monthly budget, start by analyzing your financial possibilities and rely on Insurance Quote Depot to compare motorcycle insurance quotes by zip code. If you are looking for more accurate info pointing you in the right direction, keep reading to discover some interesting motorcycle insurance facts that you should consider before investing in any type of coverage.

1)      Motorcycle Insurance Is Not as Pricy as You May Be Inclined to Think

In case you are one of those people who plan to buy their first bike but are very intimidated by motorcycle insurance quotes, you should know that your price-related concerns are not justified. Generally speaking, a motorcycle insurance policy can be up to 3 times cheaper than car insurance because

a)      most motorcycles are typically less expensive than four wheel vehicles

b)      in the event of an accident, motorcycles produce less damage (in the form of injuries and property damage) than cars

You could find a more than decent plan that could cost you anywhere from 30 to 60 dollars a month. Obviously, this is a negligible amount for most individuals. It represents the amount of money that you would spend on your morning coffee over the course of 1 or 2 weeks. In life, there are expenses that you can avoid and investment that you have to make. Motorcycle insurance fits in the second category. To spot the best deals, determine how much coverage you need and how much you can actually afford and compare rates online.

Keep in mind that there is no such thing as a one-size-fits-all solution ,and the price tag of your policy will inevitably be influenced by several factors, including your driving history, age, current location, the make and model of your bike, its current value and even its storage method. To discover all the other factors that may raise or lower your premium, just talk to your insurer. All in all, remember that motorcycle coverage is essential, and it is definitely not as expensive as most people think it is.

2)      A policy with a higher deductible is usually the best option at hand

When you opt for a policy with a high deductible, you inevitably take on a great risk. If you were to be impacted by a disrupting event of any kind affecting the looks and functionality of your bike, you would have to come up with a considerable amount of money to cover your prejudice. For instance, if you were to report losses evaluated at 2,000 dollars and your policy were to have a $1,500 deductible, you would have to take 1,500 dollars out of your own pockets to fix or replace your motorcycle and your insurance company would cover the difference (in this case, your insurer would offer you the remaining 500 dollars). Obviously, since you take on such a big risk and the insurance company is less likely to report a loss, your premiums are lower. Low premiums are paired with high deductibles. This can actually be considered a great advantage. If you do everything in your power to avoid common dangers and you are an experienced biker with a spotless history, it may be a good idea to go for a policy with a superior deductible just to keep your monthly spending low.

3)      The Ever-Increasing Competitiveness in Insurance works to your advantage

Whatever you do, don’t accept the first offer made to you by a certain insurance company. Shop around to be able to profit from the hottest deals. Here is one interesting, little-known fact: since the mid-90s, when most American people have started to surf the Internet on a regular basis, insurance rates have begun to drop. This phenomenon has a very logical explanation: as more and more potential buyers relied on the Internet to compare policies in terms of prices and features, most carriers were compelled to come up with attractive offers to bury their main competitors.

Insurance experts advise you to get at least 3 quotes from 3 different companies before making a final call. Moreover, you should never feel tempted to go in favor of the cheapest policy; choose the one reflecting the best value (a fair price-quality relationship). If you can’t seem to make an informed purchase on your own, don’t hesitate to count on expert guidance provided by a friend or a family members with a solid motorcycle insurance background, a lawyer or a trustworthy insurance agent.

4)      It is Always Very Important to Drive Safely, Even If You Are Covered

This may sound like a no-brainer, but it just has to be said. Never forget that you should drive safely in any given set of circumstances. While insurance offers you a certain level of protection, remember that prevention is better than cure. Moreover, an accident would raise your insurance premiums and impact your driving history.

5)      Selecting and Adding the Right Extras Will Eventually Pay Off

You can customize your motorcycle policy as you see fit, by adding a few useful extras, such as roadside repair or towing. While the first impulse would be to ditch these additions to save some cash, think about the fact that they could come in handy at some point and maybe even help you avoid huge expenses.

To make an informed decision when it comes to getting the right coverage, always compare motorcycle insurance quotes online. This is the simplest, most convenient method to avoid mistakes and rip-offs and close a more than satisfactory transaction.