6 Factors to Consider That Affect Motorcycle Insurance Rates

<img style="margin: 5px; float: left;" alt="motorcycle.png" src="” />Rates for motorcycle insurance can vary depending on many factors. Doing some research and working closely with your insurance agent here at the Barker, Beck, Collins and Kronauge Agency will help you get the best rates we can offer for your situation.

Before You Make Your Purchase
Before purchasing your bike, think about how you want to use it and be aware that the type of bike you get will have a large influence on your premium. A small or mid-sized bike that is used primarily as transportation back and forth to work will have a much smaller premium than a high-horsepower sport bike.

Liability Insurance
Liability Insurance covers what needs to be paid for damage done to other property or injury to people when an accident occurs. Keep in mind that it may not be the best idea to automatically opt for the minimum amount of coverage. You will need enough coverage to protect you against the majority of lawsuits. Your insurance agent will guide you to the coverage amount that best suits your needs.

Collision and Comprehensive Insurance
Collision insurance or motorcycle replacement insurance, as the name implies, will cover the cost (minus the deductible) to fix or replace at current market value your bike in the event of an accident. This is not mandatory insurance, unless your bike is financed. Should you have an expensive bike, collision insurance is recommended to protect your investment. Comprehensive insurance is there to protect you for any incidents involving your bike that are not related to a collision, like theft or natural disasters.

Uninsured or Underinsured Motorist Coverage
While this coverage may seem optional, there are too many drivers on the road today that are without insurance making it risky to be without this protection. You could get stuck with astronomical bills.

Explore with your agent any discounts that may apply to your situation. If you have your car and home insured with the same company, you will likely qualify for a multi-line discount. Find out what deductible amounts are available and choose the one that would be the most financially comfortable for you in the event that you have to pay out of pocket. 

Certain optional coverage items can make life more convenient when faced with a broken-down or damaged bike. Towing and roadside repair could be worthwhile options that should be weighed against the likelihood that you would use them.

Using these 6 factors and working closely with your insurance agent here at Barker, Beck, Collins, and Kronauge, your motorcycle investment is sure to be protected with a solid package of insurance.