Motorcycle insurance rates Comparison
You can compare motorcycle insurance quotes online, or by contacting the Insurance Department in your state.
You might find that purchasing more protection is less expensive than you would think, and it could save you thousands of dollars in the event of a serious accident.
Consider Your Assets
When considering coverage types and limits, think about your assets and the motorbike's value. Have you added a number of expensive custom parts? If so, you might consider certain types of coverage, such as accessory coverage. If, however, your bike is old, you might be able to forgo certain coverages, such as comprehensive, as it might not be worth it to pay the premiums if the value of the motorcycle is low.
Don't forget about your other assets. For example, do you have a home that could be at risk if you were sued in an accident?
If you have a lot at stake, it's best to buy as much protection as you can afford.
Gathering Information for Motorcycle Insurance Quotes
Compiling the following information ahead of time will help you to obtain a competitive insurance rate:
- The bike's VIN.
- Motorcycle title and registration.
- Dates and details regarding past claims, auto accidents, and losses.
- Names and dates of birth of all riders.
- Any traffic violations.
- All information regarding custom parts and motorcycle accessories you've added to the bike.
Comparing Motorcycle Insurance Types and Quotes
When comparing motorcycle insurance quotes, be sure to collect quotes from several different sources. Also, make sure you include in your quote the types of coverage you wish to purchase. Don't just get a quote for liability insurance if you want other types of coverage as well.
In addition to liability insurance, types of insurance you might want to consider include:
- Collision insurance.
- Comprehensive insurance.
- Custom parts and equipment (CPE) insurance.
- Uninsured motorist coverage.
- Personal injury protection (PIP) coverage.
Collision and Comprehensive Motorcycle Insurance
The purpose of collision insurance is to cover damages to your motorcycle due to collisions―with other vehicles, road signs, mailboxes, and various other stationary objects. Note that it does NOT cover collisions with animals. That is paid for by comprehensive coverage.
Comprehensive motorcycle insurance damages due to theft, vandalism, weather conditions, animal collisions, and natural disasters.
Accessory coverage, or custom parts and equipment (CPE) insurance, pays for damages specifically to custom equipment and motorbike accessories (up to your policy's limit).
Your collision and comprehensive insurance policies will not cover damages to equipment installed after the motorcycle left the factory floor. For this reason, CPE insurance is especially important if you own a highly customized bike.
Uninsured Motorist Motorcycle Insurance
Uninsured/underinsured motorist coverage will pay for injuries in the event you are involved in an accident with an uninsured driver or a driver whose coverage limits are too low to pay your damages.
PIP coverage, available in no-fault states, will pay for your injuries after an accident, regardless of who caused the accident. This allows you to get your medical expenses paid without waiting for a lengthy motorcycle accident investigation.
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