Motorcycle Insurance Rates Scam
You can quickly compare motorcycle insurance rates online to find the very best deal out there, but there are a few things you want to look out for. Some insurance packages are not all what they are cracked up to be and signing the wrong agreement can end up costing your more money than you planned for.
First, you always want to compare motorcycle insurance rates from the big, reputable companies. You don’t want to go with some fly-by-night who will be out of business tomorrow – or more likely – will be bought out by the big company, who may then give you unfavorable rates and attention.
Motorcycle Insurance Rates
In general, rates for motorbikes vary a lot, and it really all depends on a few key things:
- The bike you want to insure
- The coverage you want
- Your insurance and financial history
Based on these factors, insurance can be as low as $19/month and as high as $200 a month. Which would you prefer?
Here’s the good news… the packages most insurance companies try to sell you is probably more than you need. Unless you have an expensive bike, you can often get by without having to insure the actual property for a high value. If you’re not all that concerned, you can usually waive the collision part of the package, which would pay for repairs and restoration in the event that you were in a crash.
If you have health coverage through your employer, you may already have medical coverage in case of a motorcycle accident. Chances are you do, which means you could also waive that part of the insurance plan – helping you get an even lower rate.
How about some more ways to get lower motorcycle insurance rates?
Many of the big companies, like Allstate, offer many discounts. You just have to ask about them. Particularly if you already doing business with them by insuring other vehicles (or your home), you can get “volume” discounts.
Another way to reduce your motorcycle insurance rates and lower the cost is to try to eliminate the extra coverage for “guest passengers.” Some states require this coverage, but if your state doesn’t and you never plan to have a passenger riding with you, get rid of it. That could knock another 25% off your monthly payments.
Most importantly, shop around. There are a dozen or so big, reputable insurance companies that will fight for your business. Use the tool below to compare rates and request free quotes online, and you’ll instantly be able to shop around and see who’s offering the best deal without having to talk to a salesperson.