Bike Insurance: What To Look For and Where To Buy It

If you buy a motorcycle, you will be required to purchase bike insurance. Knowing what to look for in advance will help you to avoid paying too much for your insurance. Spend time doing research. Find the insurance requirements for your state at your local Department of Motor Vehicles. Insurance premiums are typically based on a series of statistics. You should make sure that your coverage is adequate to cover losses in the event of an accident.

Some Things to Be Aware Of
  • Generally speaking, insurance rates are lower for older individuals. If you are young, it’s likely that your rates will be high until you can demonstrate a safe riding history.
  • The type of your bike will factor into the cost of your bike insurance. Insurance for newer high-performance bikes costs more than insurance for older, simpler bikes.
  • Insurance rates can be affected by where you live. The demographics, accident rate and crime statistics of the area where you live are relevant to your insurance payments. If there is a high incident of theft or accidents in your vicinity, it is likely that  you will pay higher rates.
  • Your motor vehicle accidents can be counted against you. Clean driving records lead to inexpensive insurance.
  • Where you work can also factor into your insurance rate. If you are parking your bike in a construction zone, it’s likely that your agent will see this as an enhanced risk.
Where to Buy Bike Insurance

A good place to start looking for bike insurance is the dealership where you purchased your bike. Some dealers may be able to refer you to an agent that handles bike insurance. To ensure that you are getting the best deal on your bike insurance, you will have to evaluate multiple sources. Rates can vary greatly from location to location and from agent to agent. To get the lowest rate, it is best to get quotes from several companies . Also, search the Internet and get quotes from on-line sources. There are numerous site dedicated to providing competitive insurance quotes. When you have gathered rates from several sources, prepare to negotiate with the various companies and agents. When negotiating, a reasonable goal is to lower the best quote by 10% and see if a competing agent will match it.

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