Motorcycle Insurance

Why Do I Need Insurance for My Motorcycle?

You will enjoy your time out on the open road even more when you’re not worried about the safety of yourself, your passengers, or your investment. Here are several factors to consider:

  • If you’re in an accident or your motorcycle is stolen, it can be very expensive to repair or replace it.
  • If you or a passenger is injured in an accident, medical costs can be extremely expensive.
  • If your motorcycle is responsible for damage or injury to others, you may be sued for more than you’re worth.
  • Your motorcycle is likely one of your prized possessions and it deserves special protection.

Questions for Your Agent

Your Independent agent is an advocate for finding insurance that meets your specific needs. Here are a few items to consider when preparing for the discussion with your agent:

  • How much can I afford to pay if my motorcycle is in an accident, damaged, or stolen? (Ask your agent what your cost savings would be if you raised your deductible.)
  • What discounts and programs are available? (Ask about discounts for taking safety classes or having multiple policies. You might also save money if your motorcycle is stored in a garage or if you belong to a motorcycle association.)
  • How much medical and liability coverage should I have?
  • Does the insurance company have a good reputation for customer service? Is it known for paying claims fairly and promptly?
  • What is the process for filing and settling a claim?

Tips For The Cost-Conscious Rider

WA-Motorcycle-01Multiple factors can play a role in determining what your insurance costs. These factors include: your age, your driving record, where you live, and the type of motorcycle you own, or being a graduate of a rider-training course.

Many companies offer discounts from 10-15% off motorcycle insurance for graduates of training courses, such as the Motorcycle Safety Foundation (MSF) rider course. Riders under age 25 (usually considered a higher risk) might see some savings after taking this course. Safety courses are also a great idea for cyclists who have already had accidents.

Maintaining a good driving record with no violations will help reduce your premiums.

Find out what discounts your insurance representative offers. Multi-bike discounts for those insuring more than one bike, organization discounts, if you’re a member of a motorcycle association, and mature rider discounts for experienced riders, are just a few possibilities. Discounts can range anywhere from 10-20% depending on the company and your state. Availability and qualifications for discount vary from company to company and state to state.

Other factors might also affect your premium payments including type, style (such as a sports bike vs. a cruiser), the age of your motorcycle, in addition to the number of miles you drive a year, and where you store your bike.

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