How to Lower Your Motorcycle Insurance Costs
When you buy a motorbike, it is mandatory for you to buy motorcycle insurance as per the government regulations.
Since motorcycle is a risky vehicle, insurers tend to charge a higher premium for it. The type of motorcycle and its horsepower will greatly affect the insurance premium. The motorcycle with high horsepower will be charged a higher premium. So if you want a fast, sporty bike, you will have to spend more on the premium. But do not worry. We give you some useful tips on how to reduce your motorcycle insurance premium without compromising on the performance.
Will the type of motorcycle affect my insurance premium?
Before purchasing a motorcycle, you need to find out the cost incurred in getting it insured. The motorcycles with higher horsepower would attract a higher premium. But you should note that there is a minor difference between the horsepower and performance. Get insurance quotes before buying a motorcycle as there are lots of bikes that are not insured by the larger insurance companies. This will force you to use smaller insurers who offer below par services. Besides, they will not allow you to combine the motorcycle insurance with the other products, making the deal very expensive.
Will installing any accessories affect my premium?
Fitting your bike with high-end accessories like disc locks, alarms, and satellite tracking will significantly affect your premium. Hence it is advisable to check with the insurance company about the accessories and security that can increase and decrease your insurance premium. Buying a device costing a couple of hundred dollars will have a significant impact on your premium. Find out this information beforehand to let you negotiate with the dealer who can give you a good bargain.
What are the things I should ensure before opting for motorcycle insurance?
Get many insurance quotes from various insurers for the motorcycle you want to buy. Find out if installing security instruments and add-on accessories will impact your insurance premium. Check if it is possible to reduce the insurance cost if you park your motorcycle in an area under surveillance.
Watch the video related to motorcycle insurance
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Posted by American Car Insurance on July 13th, 2009 filed in motorcycle insurance | 9 Comments »
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9 Responses to “How to Lower Your Motorcycle Insurance Costs”
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July 13th, 2009 at 10:22 am
You can find this site very helpful
bestinsurance.notlong.com
Here you can get quotes from different companies in your area just by submitting your zip code, its the best way to find a good price.
July 13th, 2009 at 10:39 am
get another type of bike , like cars, the type of bike also raises insurance, croitch rocket vs cruiser.
get a old, old used bike, cost less to replace them.
look at other ins companys, I dont want to tell you (like advertise) however their are 2 very large ins companys that have given me and others insurance for less then 1/4 of what i paid at a company i had for 15 years, with no accidents or tickets…shop around !
July 14th, 2009 at 1:57 am
Try this site
http://doiop.com/insurancequotes
here you can get quotes from different companies in your area.
July 14th, 2009 at 3:15 am
look in to seasonal insurance. that's really high for just liability I pay like $150 a year for a cbr 600. through country insurance
July 14th, 2009 at 10:36 am
call progressive with the vin# they will give you a quote over the phone
July 14th, 2009 at 11:19 pm
The cops are very strict about motorcycle so be careful if u get 1 ticket u might as well kiss ur lincense goodbye and dont get one from Perrys Motorbikes on 3rd Street they run bad
July 15th, 2009 at 10:38 am
There are a LOT of companies that specialize in insuring motorcycles – Progressive, Dairyland, American Modern Home, Foremost, AIG, Pacific Specialty – just to name a few.
There is no ONE insurance company that is right for everyone – everyone is rated individually – and all companies have different "likes and dis-likes", different credit tiers, different business models, and many other factors that can vary your rate – and a QUOTE is ONLY a quote until the policy is issued.
Typically, insurance rates will vary from State to State and can even vary by ZIPCODE! It also will depend on the type of bike, unfortunately, you have chosen a high-performance bike (even though it's ONLY 250cc), coverages, limits of liability, and driving record. Some companies run credit scores and MOST run a motor vehicle report and CLUE (Comprehensive Loss Underwriting Exchange) report to see about undisclosed accident involvement.
You would be better off to buy a "cruiser" something that you don't have to laydown to ride. The closer you get to a horizontal position to ride, the HIGHER the insurance will be.
The best thing to do is call a LOCAL independent agent or broker. Don't go across town, or to some other city – look for someone CLOSE. Just look in the phone book for the PIA or Big I (Trusted Choice) logos and you will find a professional licensed agent that will be able to help you solve your insurance problems, and give you rate comparisons of several different companies. Be sure to ask to speak to their motorcycle insurance specialist and you should be able to find a professional to help you.
An independent insurance agent will normally have a dozen different companies and if he cannot help you, he should be networked with other local agents that can.
In my agency, we have companies that do NOT run a credit score and welcome drivers with "less than perfect" driving records and specialize in youthful operators!
Most of the replies on this site say "go to this on-line carrier or that on-line carrier or that 1-800 number" but I'm sure that when you do, you will find some impersonal computer user with a script to work from and you won't be able to talk with the same person every time you have a problem!
Good luck, ride RESPONSIBLY and I hope this helps!
July 16th, 2009 at 3:43 am
I know your not going to like to hear this but a motorcycle is a luxury. People on welfare should be more concerned with getting there lives in order rather than luxuries. Of course you could just start blaming your entire life on your disability and give up. I am a fellow director and musician, it was all that consumed me in my younger days, I'm only 23
I soon realized that I would not make alot of money right off the back doing what I loved so I needed something else. I went to school, despite my hatred for the whole "college" thing and only got my Associates in TV Production. I went through a few jobs and now take home around $43,000 – 48,000 (US) depending on how much I want to work. I still write music and short films in my spare time, and find alot of pleasure in it still.
Now for the motorcycle, I bought a used 2003 Honda Shadow Spirit 750 for $3,800 with 3,500 miles on it. I saved up for like 7 months and waited for the perfect buy too come along. I bought it cash and only carry liabilty so my insurance is like $130 a year.
Hope this helps.
p.s. I have had alot of girlfriends, their overrated. Although I'm very happy with my current one, anyways, Get a bike.
July 16th, 2009 at 4:02 pm
i bought an '05 xl1200r sportster new off the floor and i dont work for gm. i make under 16.50 an hr, but i can snap up as much o.t. as i want to also.