How To Compare A Motorcycle Insurance Quote

Motorcycle insurance quotes should be evaluated in terms of coverage, premium, deductible and limits. These four primary factors make up the most important information regarding any insurance plan. Determining which quote is right for you based on these factors depends on your personal financial situation and preferences for insurance.

Motorcycle Insurance Coverage

Determining how much coverage you need is the first step to choosing the right quote. Not all motorcycle insurance covers you for all accidents and property damage. Based on where you live, whether you have covered parking, and even your personal financial situation, you will need different levels of coverage. 

For example, an online motorcycle insurance quote may include higher uninsured motorist coverage for a city like Los Angeles, where there are a high number of uninsured drivers. Likewise, cities with trafficked, congested roads may require higher coverage out of your motorcycle. Ultimately, you have to decide what you would like to be covered for, but some lines of coverage may be required based on your area.

Motorcycle Insurance Premium

Your premium is the total amount of money you pay the insurer. This can be paid monthly, yearly, or on a flexible structure. Many people make the mistake of comparing quotes on premium alone. Remember: your premium is affected by the other options you elect. Keeping premium in mind is important, but it is not the only factor.

Motorcycle Insurance Deductible                                                        

Your deductible is how much you pay out of pocket before your insurance kicks in. If you raise your deductible, your premium will usually go down. This may not be an option for those with tighter finances. You need to decide how much you could reasonably afford to pay on a claim. If you can pay the majority out of pocket for small claims, then you will save money overtime. You will not have to pay huge premiums, and you will only have to pay the deductible if you actually have a claim. Deductibles are usually expressed in per occurrence and per policy amounts.

Motorcycle Insurance Limits

Your limits are the total amount of money your policy will pay out. This, like deductible, is usually expressed in a per occurrence limit and a per policy limit. Here, again, it is important to think about how much you can reasonably afford to pay. The total cost of your motorcycle may be low. However, there are also liability costs to consider if you are ever sued. Electing lower limits will typically lower your premium.

Accidents do happen, though, and it is important to ensure you are covered to an extent that you will be able to move beyond an accident without tremendous financial burden. Adjusting your limits and deductible on the various quotes you receive will give you an opportunity to determine which plan offers the most coverage at the lowest cost.

blog comments powered by Disqus