Motorcycle Insurance

Buying motorcycle insurance can be time consuming and confusing. Like cars, the premium depends on the type of model and how basic or fancy the extras. But what should a purchaser look for and what tips would help when choosing motorcycle insurance?

According to Progressive Casualty Insurance Co., a large motorcycle insurance underwriter in the U.S, “collision and comprehensive coverage represents about two-thirds of the premium cost”. For bikes that are not too expensive, the purchaser might decide to omit this coverage. This fact, however, is assuming that that buyer pays for the motorcycle personally and does not finance the purchase. Lenders will usually require the coverage.

Another cost that can be avoided in some cases is the medical coverage. For some insured persons, their health insurance may already cover them so the medical on a motorcycle insurance policy would be redundant. And depending on the state in which a buyer resides, he may be able to obtain a policy without “passenger insurance”. Some states require that the motorcycle owner insure “guests passengers” but even in those states where it is optional, if there is any chance of carrying another person, the insurance is important.

And if the buyer wants to find more discounts, according to Allstate’s website, they offer discounts for owning more than one bike including scooters. Also, a discount is available for holding another type of insurance with the company such as home or car insurance, and they offer inducements to have you switch over from other companies.

Many large insurance carriers routinely provide discounts for riders who are members of large organizations such as the American Motorcycle Association, BMW Motorcycle Owners of America, Gold Wing Road Riders Association, Gold Wing Touring Association, Harley Owners Group, Honda Riders Club of America, Motorcycle Safety Foundation, and Venture Touring Society.

Furthermore, the successful completion of a motorcycle safety course usually entitles the purchaser to added discounts and benefits. Of course excellent rider discounts might apply depending on the insurer’s criteria for good driving and specialty insurance is available for motorcycle racers and track owners.

Markel BikelinE, from Markel American Insurance Company, a thirty-five year specialist in motorcycle insurance, tailor makes a policy for each owner’s bike. As motorcycles are enhanced through new parts and higher performing gadgets, the insurance policy should reflect those modifications. Each section of the policy is outlined in detail to determine what is required and an online quote generator is available. Discount rate motorcycle insurance isn’t easy to find but getting a discount can be achieved by trying lots of companies — that’s for sure! Also, they offer a convenient policy that includes “Agreed Value Coverage”. Should they not be able to replace the bike with a like model in the event of a loss, they will pay out the locked “agreed upon” value. Roadside assistance is also available on motorcycle insurance policies.

In addition to driver safety courses, BikelinE provides savings for having specific parts on the motorbike. For example, at the time of this writing, they offered a ten percent discount for Anti-Lock Brakes or an Anti-Theft Alarm. And customers are rewarded for staying with the company by giving them a ten percent renewal discount.