Don't Let Motorcycle Insurance Costs Get Out Of Hand
Many people are rethinking their driving routine in light of the higher cost of gasoline
. Fortunately, they've fallen from the awful highs of over $4 a gallon, but they've been gradually climbing since then. Prices are now in the $3 plus range. Somehow it doesn't seem as appalling as before, because we've already survived worse. We have become a bit complacent. Gas hit $4 and we survived. Still, when you purchased a car and decided to use it as your primary means of transportation, you didn't imagine it to be this expensive. So you've finally had enough, and you bought a motorcycle. Smart move! But now you've run into one more challenge; the price of motorcycle insurance.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. Because of the almost limitless amount of such a claim, this increases premiums. There are some things you can do to reduce this danger - drive carefully and leave your bike in the garage when road conditions are especially treacherous. 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 is where insurance companies account for all those things that they can't quantify any other way - from risky drivers to unsafe vehicles. 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, be a low risk driver. Make sure you drive safely all the time. Drive defensively. Avoiding accidents - whether they would have been your fault or not - is smart, and not just from an insurance perspective. Second, compare motorcycle insurance prices. Don't just assume that all insurance companies charge similar prices. They don't. 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. Yes, it still takes time, but it's worth it. 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. Prices can creep up after a few years, especially if something about your driving record or vehicles has changed since you first chose this insurance company, so it's a good idea to get a quote from a different insurance company every few years. If the new one is better, then switch. If not, stay where you are. That's not much effort to make sure you have the best price.
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