Motorcycle insurance isn’t brain surgery. However, you do need to know that you won’t save any money by choosing a generalist insurance company – one that offers insurance to all different types of vehicles. Instead, you need to take the time to find an agent who understands bikes – preferably one with agents that rides themselves. Call around, talk to members of local motorcycle clubs or ask anyone else you know that rides.
The next consideration is the motorcycle itself. The insurance you need will be dependent on the type of bike you have. A touring cruiser will need a different insurance approach than a Japanese rice rocket – and both of those will be different from the policy a heavy Harley needs. This is where good communication with your agent will come in handy.
The next issue is you. How old are you? What kind of credit rating do you have? In other words, how much stability do you bring to the insurance company’s table? Of course, you won’t be able to change most of these factors, but they will affect your insurance premiums, so you need to know about them.
One of the biggest personal factors in the policy and rates you’ll qualify for is your driving record. There isn’t much you can do about your past record, so admit and acknowledge that, and then move on. What you can do to improve this score is find insurance underwriters who will give discounts for things like attending motorcycle safety courses or going a certain period of time without a claim. Each company will have slightly different policies, so it’s a good idea to call around and find the one that best suits your driving style.
It also makes sense to talk to the agent with whom you have your car and home insurance. Most insurance companies give you a discount if you have multiple vehicles or properties insured with them. However, don’t just choose your current company’s policy because of a low price if the coverage isn’t what you really need.
There’s an old saying that the only kind of insurance people buy planning to use it is maternity coverage and funeral expense coverage. While you may not be planning to use your motorcycle insurance – and we hope you never have to – you have to be realistic about the possibility of having a claim, due to your greater exposure to the elements. Again, don’t just buy your insurance based on who has the lowest price. Consider intangibles like customer satisfaction and the company’s reputation for claims handling when making your final decision.
In addition to talking to your friends or other bike owners, you can search the Internet to find insurance companies who handle motorcycle insurance. More importantly, you can read reviews where people will tell you what their experiences have been. Since more people with negative experiences will probably share their stories, you need to take these reviews with a grain of salt. However, consider the overall pattern of complaints – you might find something mentioned often that’s an absolute deal breaker for you.
