What You Should Know About Pay-Per-Mile Motorcycle Insurance

Finding the right motorcycle insurance for your needs is crucial. Whether you ride your motorcycle every day or just on the weekends, you'll want to make sure that you have the best coverage you can afford to protect you and your assets if you are in an accident. While you may already be aware that there are many kinds of motorcycle insurance policies out there, one option you may not have considered is a pay-per-mile insurance policy. Here's what you should know about pay-per-mile motorcycle insurance: 

How It Works

The first thing you should know about pay-per-mile motorcycle insurance is how it works. With a pay-per-mile or pay-by-mile motorcycle insurance policy, you only pay coverage for the miles you drive. You still have the coverage options you would have with a traditional insurance policy, like comprehensive or collision insurance, but you only pay when you drive your motorcycle. Insurers that offer this type of motorcycle insurance will either use a telematic tracking system to track your mileage or have you send in a photo of your odometer every month.

When It's Useful

Another thing you need to know about pay-per-mile motorcycle insurance is whether it's appropriate for your needs. The fewer miles you put on your motorcycle, the better pay-per-mile insurance is for you. If you ride your motorcycle only on weekends, to travel short distances, or are a seasonal rider, this kind of insurance policy may be ideal. However, if you rely on your motorcycle daily or travel frequently, a pay-per-mile policy may not be a good choice for your needs. 

How to Know if It's More Affordable

If you are looking into this type of motorcycle insurance, you need to do the math before committing. It can be easy to underestimate the miles you are putting on your motorcycle, which is why you should take a close look at your mileage before seeking out a policy. Once you know how many miles you are putting on your motorcycle, you'll need to get quotes for pay-per-mile motorcycle insurance policies and compare them to available traditional policies.

So, if you are thinking about getting a pay-per-mile policy for your motorcycle insurance, first make sure that you understand how the available policies work and then check to see whether each policy is suitable for your driving habits. Finally, before committing to a new policy, consult with the insurers directly or go to website quotation-request or policy-calculation forms to check to see if you will see savings by switching over.