Beginner's Guide to Motorcycle Insurance Policy
Are you a beginner motorcycle rider searching for the best insurance policy for your bike? Or are you an experienced rider looking to update your motorcycle insurance? Whatever your experience level, motorcycle insurance is essential to protect you and your bike. With so many options on the market, selecting the right motorcycle insurance policy can be daunting. This guide will provide the necessary information to decide on the ideal motorcycle insurance policy.
What Does a Motorcycle Insurance Policy Cover?
A motorcycle policy covers damages or injury to others in an accident. A typical policy has two types of coverage that motorcycle riders can include or exclude: liability coverage and physical damage coverage. Liability coverage protects the rider financially if they cause injury or property damage to someone else while riding their motorcycle. On the other hand, physical damage coverage includes comprehensive and collision coverage. Comprehensive covers damage to your bike from vandalism or theft, while collision covers damages if you collide with a vehicle or object.
Factors to Consider When Choosing a Motorcycle Insurance Policy
Choosing the best motorcycle insurance policy for your needs requires careful consideration of many factors, including:
• Motorcycle's make and model
• Driving record and experience
• Age and location
• Insurance budget
• Accident/flood/earthquake coverage
Types of Policies
Motorcycle insurance policies come in different forms, with various coverages and price points. These include:
• Standard motorcycle insurance – This is the most commonly purchased type of policy. It includes basic protection such as liability, medical payments, and collision coverage
• Custom motorcycle insurance – This policy covers customized bikes, choppers, and other modified motorcycles
• Cruiser/touring motorcycle insurance – If you own a touring bike or a cruiser, this policy type will have the added coverage that fits your bike's style
• Scooter/moped insurance – This policy is perfect for those who own mopeds, scooters, and other small-engine motorcycles
Tips for Saving Money
Although motorcycle insurance is mandatory, riders may not have to pay exorbitant premiums. Discounts are available with most insurance providers – some of the most typical discounts include safety course completion, a claims-free riding history, and multi-policy (home, auto, and motorcycle) insurance. Some additional money-saving tips include:
• Research motorcycle insurance providers before committing to one.
• Become a safe, experienced rider
• Pay in full or set up automatic payments
• Take advantage of discounts on motorcycle features' safety coverage
Now that you have learned what to look for in a motorcycle insurance policy, you can decide about motorcycle insurance coverage. Make sure to take the time to shop around and find a policy that considers your budget and potential future needs. Motorcycle insurance will protect you from accidents and incidents on the road, so it is essential to have the most suitable coverage.
For more information about motorcycle insurance coverage, contact a professional in your area.