An Expert Guide To Finding The Lowest Motorcycle Insurance Cost
Paying premiums on your motorcycle insurance on a monthly installment can often be more expensive compared to paying for an annual policy up front. Most top motorcycle insurance companies such as Nationwide, Safeco, and Progressive provide pay-in-full discounts to people who pay their premiums on a six- or twelve-month basis. If you can manage it, it’s a great way to lower your overall rate of premium.
Other ways that you can save money on your motorcycle insurance include:
Compare Coverage
Get quotes and compare coverage from at least four or five different insurance companies. Also, make sure that you’re comparing prices for the same types of coverage and the same deductible amounts.
Ask For Discounts
Ask carriers if they provide any discounts. They can often reduce rates if you choose to bundle your motorcycle insurance with insurance for your home or car.
Skip Collision Coverage
If you own an old bike, it makes sense to drop collision coverage altogether. This is because old bikes have low repair and replacement costs. But keep in mind that skipping this coverage will mean you won’t be covered if you get into an accident in which you’re found to be at fault.
Make And Model
The newer and faster the bike is, the more likely it is to be stolen. Furthermore, newer bikes also cost more to repair and replace, so companies will set higher premiums on them. So, if you’re serious about buying a bike, consider purchasing a used one.
Keep A Clean Driving Record
As with car insurance, your driving history directly influences the premiums you must pay. Riders with a poor driving record will typically need to pay higher premiums.
Keep Your Bike Secure
Your carrier might lower your premiums if you store your motorcycle in a proper facility and install anti-theft security on it.
Most top insurance companies also offer training course discounts to riders who graduate from a Motorcycle Safety Foundation (MSF) rider course. This course can come in handy for riders under the age of 25 and riders who have been in a prior accident. Besides lowering premiums, the course also helps in transitioning amateur riders into more experienced riders.
