Finding a motorcycle insurance that provides comprehensive coverage at an affordable cost may seem to be time consuming, but shopping around and asking for insurance quotes via the internet can save you the time and effort of talking to an insurance agent. Owning a motorcycle is different from owning a car. Although most car insurance companies also offer motorcycle insurance, there are some insurers that only deal with motorcycle insurance. Riding a motorcycle is risky and getting into an accident may lead to difficult financial situations. So it’s important to have a motorcycle insurance that provides complete protection against unexpected liabilities. Whether you own an expensive Harley or a simple and practical scooter, there’s a motorcycle insurance plan that both fits your budget and needs.
Basic Types of Motorcycle Insurance Quotes
The basic types of motorcycle insurance are:
Full comprehensive insurance
Third-party fire and theft
Full comprehensive motorcycle insurance covers all aspects of a complete insurance plan. This provides coverage for any personal and third-party damage caused by an accident. All liabilities are covered including property damage, medical cost, legal expenses for filing and processing a lawsuit, and other directly related expenses. Some comprehensive motorcycle insurance plans also give coverage for the loss of income.
Third-party fire and theft is a cheaper type of motorcycle insurance. The coverage is limited to third-party liabilities, as well as theft and damage caused by fire. In case of an accident, your personal medical expenses will not be covered.
Third-party insurance, on the other hand, has the lowest price and the least coverage. The insurer will only be liable to pay for the damage caused to a third-party. Unlike third-party fire and theft insurance, third-party insurance will place no value on your motorcycle and even yourself.
How to Lower Motorcycle Insurance Cost
Insurance companies will provide you options on how you want your motorcycle insurance to be tailored when you are asking for a quote. Try to check the price difference between each plan and see which best fits your budget and needs. The cost of the insurance will also depend on what type of bike you have. Expect high premiums for expensive and fast bikes. Sports bikes, for example, have higher risk of getting into an accident than scooters. Prices will also vary according to the bike’s manufacturer; some types can be more expensive to repair than others.
Having a clean driving record helps in lowering the cost of your motorcycle insurance quotes. This will give insurers the impression that you are a responsible driver. Being a member of a bikers’ club will also give you discounts in your insurance quotes. Paying a semi-annual or annual premium will also help you save on the cost since insurance companies will apply a small interest rate on your account if you are paying it on a monthly basis. Enrolling in a safe driving and motorcycle courses will also help in reducing your risk. Insurance companies will always ask if you had taken any driving course in the past when asking for insurance quotes. Lastly, installing safety and anti-theft systems can drastically reduce the cost of your premiums.