Keep the Cost of Motorcycle Insurance In Line

By Jackson Hooker

The cost of gasoline has us all evaluating our driving habits. They've been gradually climbing since they came down from the shocking highs of over $4 a gallon. Now prices are hovering in the range of $3 plus a gallon. Because it's not the worst we've ever seen, it doesn't seem as bad as before. We've become a little bit complacent. Gas hit $4 and we survived. But it's more pricey that you ever expected when you bought a car and decided to use it as your primary means of transportation. So you've resolved to buy a motorcycle to escape the high price of gas. Smart move! Unfortunately there's another problem ahead; the cost of insurance for your motorcycle.

Motorcycle insurance can cost more than car insurance for a couple of reasons. First, motorcycles are difficult for other drivers to see because they're small and they can move quickly, leading to more accidents. Your insurance has to pay if you are partially at fault in an accident, even if the other driver shares the fault. Insurance companies also have to take into account the cost of paying claims when the other driver is uninsured or under-insured.

Motorcycle accidents are also more likely to involve significant bodily injury claims. Unlike property damage, which tops out at the value of the property, injury claims can be almost limitless. That drive up insurance premiums. You can help reduce this danger by driving carefully, or not driving your motorcycle when conditions are dangerous. Motorcycles are more affected than cars by weather factors like fog, wind and rain. Those are good days to drive a car or find another means of transportation. Always wear a helmet, and insist that any passengers do too.

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.

What's the best way to keep those gas savings rather than handing them over to the insurance company? 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 quotes. Don't just call your old auto insurance company and add your bike. Contact at least three companies and get quotes for the coverage you want for your bike with your driving record. 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. Choose the better of the two for the upcoming year. That's a great way to get a good price with minimal effort on your part.

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