subject: A Note On Motorcycle Insurance Premiums [print this page] The latest reports state that the size of the bike has a role to play in the case of motorcycle insurance. The authorities look into this factor as well, in order to ascertain the accurate amount of the claim. In the case of these insurances as well as the car insurances, the insurers consider factors such as the age as well as the driving history of the one applying for the claim. Here lies a small similarity between both insurances. It has to be noted that, the terms as well as the conditions that relate to both the types of insurances will differ from one state to another or from one nation to another.
Size
In the case of motorcycle insurance premium amounts, the individuals can try and make alterations. For instance, a motorcycle engine with less horsepower will cost less to the individuals. The opposite is the case of the individuals who go for the bike engines with costly specifications as well as higher horsepower. However, there is no hard and fast rule that all the insurance providers will do justice to the individuals applying for making the claim. The terms and conditions followed by one vendor can be totally different from the terms and conditions of another vendor. Thus, when it comes to saving money, the individuals can do so by cutting short on certain specifications.
Make and model
This is another field that plays a significant role in the case of any motorcycle insurance. There are a few makes as well as models of bikes that are accompanied with premium amounts that touch the sky. There are mainly three reasons that result in such variations in the amounts that have to be paid by the individuals as premiums. Firstly, the accident rate that is associated with the bike. Secondly, value of the bike. And thirdly, the theft rate that is associated with the bike. Where the above said factors play a role, the size of the bike becomes comparatively less important. The brand names are also an influential factor.
The state
The state here does not have anything to do with the current condition of the vehicle. The rules as well as the terms and conditions that are put forward by the state are being talked about here. The premium amount that has to be paid in the case of motorcycle insurance will depend on the norms set by the state. The vendors of such insurances must make sure that they follow the set rules. Thus, however much the individuals try to reduce the amount, the final decision will always be taken by the authorities. It can rightly be said that the actual power remains in the hands of the higher authorities; for it is them who fixes the rates of the premium amounts.
The size of the bike as well as the make and model of the bike has a role to play when it comes to fixing up the premium amount that has to be paid with respect to motorcycle insurance. However, the actual power is there with the respective state.
by: Arnold Morgen
welcome to Insurances.net (https://www.insurances.net)
