The Best and Easiest Way to Buy a Motorcycle Insurance Policy

If you are planning to buy your first bike, don’t forget to take the time you need to analyze different insurance policies. You require this type of coverage for a number of reasons: first of all, it represents a legal requirement in most states. Secondly, if you were to cause a traffic accident without being insured, you would mostly likely be forced to cope with sky-high expenses representing medical bills, bike repair or replacement costs and even attorney fees—if you were dragged to court by a third-party who sustained injuries and/or recorded a loss associated with your crash.

On the other hand, if you have your back covered, you have nothing to worry about. An optimal level of coverage, customized to meet your specific needs, can bring you peace of mind, knowing that you are safeguarded from any conceivable risks that may be waiting for you just around the corner. The good news is that even if you are not familiar with the spoken and unspoken rules of the insurance industry, you can still identify and compare policies the easy way and make a final decision in record time. To walk away with good coverage that will not overbalance your budget, all you have to do is follow the 5 basic steps listed below.

Set up a Budget

Start by answering the following question: How much money can you actually afford to spend on this policy and what would you like it to include? Moreover, would you be willing to throw in a few useful extras, like towing and roadside assistance for instance, which can raise your monthly premiums only by a few dollars? Analyze your financial situation and decide if you want to go for a standard policy or opt for full collision and comprehensive coverage. The latter option is obviously more expensive than a standard policy, but it lets you address a larger category of risk factors that are beyond your control, for instance: acts of vandalism, theft, damage to your bike triggered by extreme weather conditions and more.

Get Accurate Quotes Online

What you need to understand is that there is no set amount of money that you have to spend on motorcycle coverage. It’s all up to you. This doesn’t mean that you have to buy the first policy that is introduced to you by an agent. On the contrary, different carriers compete against each other and strive to come up with extremely tempting deals and discounts to increase their client database. Factors like age, driving history, previous claims, experience, make, model and price tag of your bike—and the way in which you store it—can influence the value of your monthly premiums.

Additional discounts can be part of the deal. You should do a little research on you own, in the comfort of your own home, to see what kind of features could actually lower your premiums. For instance, some carriers may offer you an excellent deal because you have taken a Military Safety Course or have undergone special training ensured by the Motorcycle Safety Foundation.

Moreover, extra safety features added on your bike can also unlock considerable discounts. Here we are referring to any improvements that would minimize injuries and damage caused by a crash or would protect your motorcycle from thieves looking for an easy target. To find out what kind of discounts you could receive, talk to your insurer. However, before making this important step, make sure you know what you can expect to pay for you policy. Rely on Insurance Quote Depot to get and compare motorcycle insurance rates by zip code. This is the most convenient method to conduct research at home and determine costs without going through the trouble of contacting an insurance agent.

Compare Different Policies

To make an informed decision, select the most attractive policies based on a few essential factors, including your riding style, the make and model of your bike and how often you ride your motorcycle. Do you ride by yourself or do you actually own and utilize a two-up? If you carry passengers, you should know that they are not automatically covered by your insurance policy. Some people who are proud of their experience and amazing riding skills settle for basic liability. This type of policy would cover the damages reported by third-parties involved in an accident that you are responsible for, but it would not offer you the financial support that you may need to fix or replace your bike.

Basic liability can be an option worth considering only if you own a very old bike that isn’t worth a lot of money. Otherwise, insurance experts advise you to secure your belongings and your new shiny motorcycle—that costs a small fortune—by adding other different policies. The ideal coverage is actually comprised of various insurance policies tailored to your necessities, demands, financial means and most probable risks that you could face in the long term.

Find out if the Best Policy for You Covers Risks That You Cannot Control

Are you worried that your bike and your safety apparel could be affected by factors that you cannot control, like natural or man-made disasters? In this case, you could replace your standard liability insurance with a full, comprehensive coverage that keeps numerous risks at bay, including storm damage, theft and vandalism. Find out how much money this superior level of coverage would cost you and talk to your insurer.

Schedule a Meeting with Your Insurer

This is the last phase of the motorcycle insurance buying process. Get in touch with different insurance agents, ask them to offer you a free quote and compare every single policy in terms of costs and benefits. Be careful though: some providers won’t hesitate to make the most of their manipulative tactics to get you to buy more coverage than you may actually need. Eliminate this common pitfall by doing your homework properly. Compare motorcycle insurance rates by zip code and don’t let your insurer talk you into an expensive policy that is not really what you are looking for.