Making the right decision when it comes to buying motorcycle insurance requires research into the different plans and options that are available to you. Insurance companies are interested in every aspect of your motorcycle experience, and will determine the rate you’re charged based on their assessment of your driving behavior.
There are a number of factors that insurance companies take into consideration while determining your insurance rates, some of which are:
- Your driving record: Any moving traffic violations or prior accidents will be a factor in insurance quote you’re given.
- Experience with motorcycles: Insurance companies estimate that if you have had little experience with motorcycles, you’re more likely to be involved in an accident and cost the insurance company money.
- Your age: Motorcycle insurance rates in general are higher for younger people than for drivers who have many years of experience behind them. It’s very likely that it’ll be the same for you when you buy insurance.
- Make and model of your bike: Motorcycles with large displacement engines or high speed capabilities are likely to cost the rider more than a more basic model.
- The average distance you travel on your bike: Insurance companies also factor in the distance you’re likely to travel on your bike. Also, if your place of employment is in an area that has a high probability of an accident, insurance companies might charge a higher premium.
- Location of residence: Similarly, if your residential address is in an area which has a higher risk of theft or accidents, your rates might be higher.
There are a number of other factors that will determine the amount you’re charged for motorcycle coverage, and it’s important to try and understand those factors. Don’t worry, once you done the basic homework, you’re set for good.
Is Motorcycle Insurance Mandatory?
The easy answer is, ‘You betcha.’
Anyone who rides a motorcycle or two-wheeled vehicle, regardless of whether a person rides his motorcycle often or just on the weekends, needs to have motorcycle insurance to stay on the right side of John Law.
Although motorcycle insurance differs from car insurance in several ways, but just like any other motor vehicle, the law requires you to have insurance coverage on your street legal bike.