Whether you are just starting out or have been riding for years, there are a lot of things to consider when finding your ideal insurance policy for your bike. You want to be sure that you are protecting yourself as well as your investment and those around you in the event of an accident.
1. Get a Custom Quote
There’s no such thing as a one size fits all insurance policy. Just because the policy is more cost effective it does not necessarily mean it is going to give you the right coverage for your needs. Whether it's your first insurance policy or it is that time to renew the one you currently have, it pays to shop around. Companies now offer flexible rates and plans for everyone that is a year round driver to the summer time sport bikers. In their efforts to be competitive they also offer discounts for switching and custom rates designed for your specific bike usage.
2. Look for Safety Apparel Coverage
Let’s face it, that motorcycle gear you are wearing probably cost a pretty penny. When shopping around for your motorcycle insurance it definitely pays to find one that offers Safety Apparel Coverage. This means that if you are in an accident where your helmet, gloves, leathers or other protective gear is damaged, the insurance company will reimburse the cost so you may buy new gear.
3. Comprehensive is More than Just Accidents
Damage to your bike can happen a whole host of ways. Many insurance companies offer motorcycle policies that also cover damage from flooding, wind and major storms. Additionally, it will cover the cost to fix or repair your bike if it is vandalized or stolen and recovered in less than perfect condition.
4. Optional Equipment Coverage
After you spent the money making your bike your perfect dream machine the last thing you want to deal with it an accident that ruins that awesome paint job. If you have Optional Equipment Coverage on your policy you will enjoy comfort in knowing that your side car, custom paint job and any other details that did not come standard on your motorcycle are covered for repairs during an accident.
5. Get Rewarded
Who doesn't love getting free money? On top of the regular discounts that you get for being part of a motorcycle club or taking a driver safety course, several insurance companies are also offering a $50 reward if your motorcycle is equipped with an approved a stolen vehicle recovery system. On top of that, if your bike is stolen while the device is activated, insurance companies will waive the deductible to repair or replace it.
6. Payments To Fit Your Budget
Take advantage of flexible payment plans and yearly plans to help you save money and keep the perfect motorcycle insurance policy intact.
7. Know Your Credit
As with everything these days, many insurance companies run a credit check to help determine the price of your motorcycle insurance policy. Knowing the standing of your credit before you sign up or ask for information on the policy gives you the ability to demand a better price.
8. Go for More Than the State Minimum
Choosing to accept the state minimum for coverage is a dangerous option when you own a motorcycle. It only takes one driver that's not paying attention and does not see you for a major accident to occur and for you to incur hospital bills, lost wages and of course the damage to your bike. Even if an accident is your fault or no ones fault, having insurance with only the state minimum coverage will leave you holding a substantial bill for remaining expenses. Your best bet is to have at least $100,000 in Medical Payment coverage, $250,000 in Bodily Injury Coverage and $50,000 in Property Damage Liability Coverage.