A smart biker realizes that there is never such a thing as too much motorcycle insurance. In fact, this is one area where you really do get exactly what you pay for. If saving a few bucks is important to you, you may want to consider waiting to buy bells and whistles to amp up your ride.
Don’t ever skimp on safety — or paying for the maximum policy insurance coverage. That being said, when you are looking for fat, skip over the line items about liability and comprehensive. Consider these ideas:
Bundle your insurance policies. Most companies offer a discount to people who have various policies with that company. If you have a car or property, consider adding motor vehicle and/or homeowners insurance to your motorcycle policy so you can be eligible for a bundling discount.
Skip guest passenger liability if you’re a lone rider. If you generally ride solo, this may be a line item you can cross off the policy to save some cash.
Maintain a good driving and credit report record. A driver with no accident history and a decent credit report is much more likely to qualify for much-needed discounts than that of a high-risk rider.
Don’t buy sports models. Sporty motorcycles will always cost more to insure than a motorcycle of another genre. This is because sports models are more accident-prone than others, and insurance companies worry that the people who ride sports motorcycles may be risk-takers on the road. (Consider that the same thing applies when it comes to insuring homes in the suburbs vs. inner cities or family sedans vs. dragsters.)
Raise your insurance deductible. What goes up, must come down. Same holds for insurance policies; if you raise your deductible, your premium will likely be reduced. This doesn’t mean you will be cutting down on coverage, however, if you get into an accident, your out-of-pocket costs will be higher. Don’t choose a higher deductible if you won’t be able to pay the piper should the time come.
Motorcycle insurance alone can give you a lot of peace of mind. It can make you feel safer while you’re out enjoying the open road. However, regardless of how much insurance you paid for and how careful a rider you are, accidents happen. It’s better to be safe than sorry when it comes to being prepared.