How to Determine Motorcycle Insurance Needs

Motorcycle insurance is reasonably inexpensive to get since you're paying for liability only. There are many other options available for motorcycle insurance that should be considered. They are optional, but in the long run, you have more than adequate coverage whether the motorcycle is in use during peak riding season or in storage during winter months.

Difficulty: Moderately Easy

Instructions

1. Get several quotes for motorcycle insurance. Remember the more expensive or sportier the motorcycle, the more you'll pay for the insurance. Check out all options and discounts available in your state.

2. Consult an agent that specializes in motorcycle insurance or the same agent that carries your homeowners or car insurance. Some insurance companies offer a multiple policy discount if you have homeowners, renters or car insurance already in place. Many factors go into consideration when buying motorcycle insurance, such as your age, driving record and type of motorcycle (sports or cruiser), where the motorcycle will be parked or garaged and how many miles are driven per year.

3. Obtain a lay up policy during the winter months. Your motorcycle will only be covered by the basics. Comprehensive is the only coverage that can be suspended during the winter months. Contact your agent when the peak driving season starts to reactivate your comprehensive coverage.

4. Determine where and how you'll be using your motorcycle. The more you use your motorcycle, the better coverage you must get.

5. Take a motorcycle driving safety class to get a better deal. Most insurance companies offer discounts for this course. Drivers that are more mature usually receive a discount as well. If you belong to a motorcycle association or organization, you can also qualify for a discount. There is also a multiple motorcycle discount if you own more than one motorcycle.

6. Determine who might be using your motorcycle. If you have people other than just yourself who will be using your motorcycle, make sure your insurance coverage insures those individuals. Also, if you plan on having someone ever riding on the back of your motorcycle, make sure you have plenty of liability insurance.

7. Add in more insurance for your motorcycle than you would have for a car or truck. Motorcycle accidents are more likely to be more dangerous than other vehicular accidents. Make sure you have more liability and hospitalization insurance than you would typically have for your car or truck.

Tips & Warnings

• Consider the additional coverage available for motorcycle insurance such as collision, comprehensive, underinsured/uninsured motorist. Although this coverage is optional, it provides additional safety.
• Helmet laws vary from state to state. Some states do not make it the law where others demand helmet use.
• Motorcycle insurance will only cover the motorcycle as it was purchased from the manufacturer. If you add extra chrome, paint job or a side car, consider getting optional insurance.