| Buying the right kind (and the right amount) of | | | | -How many miles you'll be wracking up on your bike |
| motorcycle insurance can appear complicated - but it | | | | every year. |
| doesn't have to be! When shopping for insurance, | | | | -Where you live. |
| there are three main types of policies to be | | | | -What type od extras your bike has (face it, all the |
| considered: | | | | customized stuff that makes your bike great will also |
| Liability: | | | | cost the insurance company more to replace should it |
| Liability insurance is the least expensive policy you | | | | be involved in an accident or stolen). |
| can buy, and for good reason. It's basically designed | | | | While every insurance carrier will consider these |
| to protect the other guy and his bike - not you or | | | | things when setting your individual insurance rate, |
| yours. | | | | there are ways to lower your premium - now and in |
| Collision: | | | | the future. The first is to pay off any loans you have |
| Collision insurance, on the other hand, will help pay for | | | | on your bike as soon as possible. When you finance |
| your bike's repairs in the event of an accident. | | | | your motorcycle, the bank requires a certain amount |
| Comprehensive: | | | | of insurance to cover the loan, but once it is paid in |
| Comprehensive is well, shall we say, the most | | | | full, how much and what types of coverage you |
| comprehensive policy you can buy covering | | | | carry is totally up to you, leaving you to decide how |
| everything from, fire, theft and vandalism, as well as | | | | much risk you want to take. |
| accidents. | | | | The second is to keep your driving record clean. |
| When shopping around for motorcycle insurance, it's | | | | Every claim you submit and every traffic violation |
| important to understand every limitation of the policy | | | | you receive will add cost to your insurance premiums. |
| you choose. For instance, a higher deductible will help | | | | Keep that in mind the next time you speed down |
| lower your monthly premiums, but in the event of a | | | | the highway. |
| claim, you will pay more out-of-pocket expenses. | | | | Make sure you tell your insurance agent if your bike |
| Another thing to consider is whether or not your | | | | is stored during the winter months (or any time of |
| policy will pay to replace your bike in the event it is | | | | the year). The less it's on the road, the less you will |
| totaled, or if the insurance company will pay your | | | | pay for insurance. |
| claim based on your bike's depreciated value. This can | | | | Also, keep up your credit score. It's a little known |
| make a huge difference between having enough | | | | fact among the general population, but more and |
| money to buy the new bike and getting stuck taking | | | | more insurance companies are looking at a client's |
| whatever you can afford. | | | | credit score to determine how responsible they are. |
| Of course, there are ways to get your premium | | | | And how much they should charge them for their |
| down. Some of thing's an insurance carrier will | | | | insurance. Statistics have shown that those with |
| consider when setting your rate includes: | | | | higher credit scores submit fewer claims - which is |
| -The size of your motorcycle. | | | | good business for insurers. |
| -What kind and brand it is. | | | | Buying motorcycle insurance is much like buying any |
| -How old you are. | | | | other type of insurance. The key to getting a good |
| -Your driving record (have you had any previous | | | | deal is shopping around and making sure that you |
| accidents, claims or speeding tickets?). | | | | clearly understand the policy that you've chosen. Just |
| -What you will use the bike for ex: to ride to work | | | | because one company's premiums are lower, doesn't |
| or for enjoyment. | | | | necessarily make it a better deal. |