Keep The Cost Of Motorcycle Insurance In Line

Written By: Coleen Smith on August 19, 2010 No Comment

The cost of gasoline has us all evaluating our driving habits. They’ve been steadily rising again since they decreased from the extreme highs of over $4 a gallon. Prices are now in the $3 plus range. Because it’s not the worst we’ve ever seen, it doesn’t look as bad as before. Still, when you purchased a car and decided to use it as your primary means of transportation, you didn’t anticipate it to be this expensive. So you’ve finally had enough, and you bought a motorcycle. Smart move! Sadly the price of motorcycle insurance is going to present you with another hurdle.

Motorcycle insurance can cost more than car insurance for a couple of reasons. First, motorcycles are involved in a lot of accidents, simply because they’re difficult for other drivers to see. Although the other driver may be at fault too, if you are partially responsible for an accident, your insurance has to pay. They also pay if the other driver is uninsured or underinsured, if you purchase that coverage. Fair or not, the insurance companies take this into consideration in their pricing.

Significant bodily injury claims are more likely in accidents involving motorcycles. Obviously this is a bigger concern than just an insurance problem, but it does drive the premiums up. There are some things you can do to reduce this danger – drive carefully and leave your bike in the garage when road conditions are especially treacherous. Wind, rain, fog and other weather factors are more dangerous for motorcycles than for cars. Those are good days to drive a car or find another means of transportation. Make sure that you and any passengers always wear a helmet when riding.

Lastly, remember that statistics drive insurance premiums. If the odds of a claim or the average dollar amount of a claim are high for the particular type of vehicle that you drive (or ride), your premiums will be higher. This helps insurance companies account for all kinds of things that they can’t identify, from hot-dogging drivers to vehicles with safety problems. When you’re comparing insurance quotes, get prices with a few different models of motorcycles. If the price difference is significant enough, it might change your mind about what type of motor bike to get.

How do you keep insurance premiums from cutting into your gas savings? First, drive safely all the time so that your history shows that you are a low risk driver. Whether you’re in the right or not, do what it takes to avoid accidents. Second, compare motorcycle insurance prices. Don’t just assume that all insurance companies charge similar prices. They don’t. Even for the same coverage with the same bike and the same driver, prices can vary a lot. It’s so easy now that you can get quotes online. It’s well worth whatever time you spend getting quotes. This is a major expense that recurs year after year, not a one-time expense like buying the motorcycle was. If you find a good insurance policy that saves you $500 a year, you’ll save that much not just this year, but next year and the year after as well. Every couple years, it’s probably a good idea to get one more quote in addition to the quote from your current company. If the new one is better, then switch. If not, stay where you are. That’s not much effort to make sure you have the best price.

Written by Coleen Smith Motorcycle Insurance Compare Affordable Cycle Insurance