It is always frustrating to see a much higher-than-expected quote for motorcycle insurance when out shopping. A lot of factors affect the motorcycle insurance quote, and figuring out the reason why your quote is higher than expected is the first step toward getting a low insurance quote.
This guide will explain why Best Motorcycle Insurance Quote might be higher for you than expected and what you can do to get the rates you deserve-whether you are a novice rider or someone who has been cruising for decades.
Factors Leading to a Higher Motorcycle Insurance Quote :
Before we get down to the aspect of slashing your quotes one way or the other, let’s have a look at all the factors that act as determinants of motorcycle insurance in the United States. Quite a few chief variables swing the pendulum to determine what your premium will be.
- Type and Model of Motorcycle :
The make and model of the motorcycle you ride have a major impact on the motorcycle insurance quote. High-power high-risk bikes like sport bikes and custom motorcycles usually incur higher premiums. In contrast, premiums on cruiser motorcycles or touring bikes are usually lower. Some rare or expensive motorcycles can also increase the cost of coverage on account of higher repair or replacement costs.
- Age and Riding Experience :
Insurance companies charge higher premiums to younger riders generally, because of increased risk because of inexperience. Statistically under 25, younger riders are more likely to be involved in accidents, which justifies the higher motorcycle insurance quotes. This is in contrast to older drivers with more riding experience, who pay less. If you are a beginner motorcyclist, your premium could remain high until you prove it by maintaining a safe riding record.
- Location :
Your residence plays a notable role in determining your motorcycle insurance quote. If your area has high rates of congestion or accidents, or great chances of theft, you can expect to pay higher premiums. Take for example cities versus rural places: typically, motorcycle insurance is more expensive in urban areas, for this reason. If you’re in this category, it’s good to check the quotes against other providers’ to get the best deal.
- Driving Record :
Your driving record is arguably the most critical parameter when it comes to the cost of insuring your motorcycle, just as with your auto insurance. Motorcycle insurance companies will put you in a higher risk group and thus charge you a higher premium if you have been involved in accidents or traffic violations. Conversely, a good driving record often translates into further reduction in premiums with time.
- Type of Coverage/Deductibles :
The bigger the coverage you choose for, the greater influence it has on your premium. Motorcycle insurance comes loaded with options like liability, collision, comprehensive, and uninsured motorist coverage. Your premium increases with higher coverages and lower deductibles. Conversely, your premium decreases with higher deductibles and lower optional coverage.
- Safety Features on the Motorcycle :
Motorcycles that come with advanced safety features, such as anti-lock brakes or devices that prevent theft, can help mitigate your motorcycle insurance quote. When insurance providers use such safety measures, they will often afford discounts when it comes to the premiums of the motorcycle insured. These safety features are helpful not only in accident prevention but also in the prevention of theft.
How to Reduce Your Motorcycle Insurance Quote :
Now that you know how factors can trigger your motorcycle insurance quote, let’s look at some approaches to lowering it.
- Raise Your Deductible :
Raising your deductible is perhaps the quickest way to lower your motorcycle insurance quote. Although this would mean spending more out of pocket in the event of a claim, you can save massively on the premiums. Just ensure you can afford the extra expenses if an emergency arises.
- Take a Motorcycle Safety Course :
Completing an approved motorcycle safety course may attract discounts on your insurance premium. This helps to cut down your premium while improving your riding skills and lowering accident chances. Check for a Motorcycle Safety Foundation (MSF) course around your location to get any of these savings.
- Go for Bundled Car and Motorcycle Insurance :
If you already have an automobile, life, or home insurance policy, bundle your motorcycle insurance in with your other policies. Insurers usually offer attractive multi-policy discounts to clients, which can substantially lower your premiums. This excellent opportunity saves you a fortune on motorcycle insurance and other insurance cover.
- Compare Your Insurance Quotes :
Sort-out your motorcycle insurance by gathering quotes from many competitors. Comparing rates can lead to sizable savings. The best quote is the one that gets on you considering that different insurer calculates it differently.
- Maintain a Clean Driving Record :
A past record of safe riding is the best way to lower motorcycle insurance premiums. Avoid speeding tickets, traffic violations, and accidents since any of them can increase your insurance. In the long run, your clean driving record will have insurers persuaded you to be a responsible rider, and thus, your rates may fall.
- Look For Discounts :
- Insurers render tons of discounts for a whole number of reasons. The most common discounts include:
- Safety equipment discount: If you use protective gear like helmets, gloves, and jackets.
- Low mileage discount: For seldom riders.
- Club membership discount: Discounts for being a member of recognized motorcycle associations.
Asking about these discounts might save you a significant amount.
Final Thoughts :
If the incidence of having your motorcycle insurance quotation is higher, it is fine; there are ways to obtain those premiums at a lower price without sacrificing any form of the cover. Understand all the reasons that can increase your quote and work toward reducing them so that you can save money while knowing you’re well protected on the road.
Start by comparing available options, increasing deductibles, and availing discount offers. Plus, these tips will get you on your way to finding an affordable motorcycle insurance policy.
