THE FALLS INSURANCE CENTER, INC.
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Perhaps the best way to minimize motorcycle insurance cost is to maintain a safe driving record and shop around for the best prices. Some companies will give you a discount if you attend a motorcycle safety class or if you have multiple vehicles covered under one policy. In many northern regions you can buy a policy that discontinues coverage during the winter months when you won't be riding the motorcycle anyway. During these months, you pay no premium or a reduced premium. Eliminating collision and comprehensive coverage or increasing your deductibles will also lower your premiums (however, if there is a lien on the bike, you may not be permitted to do so). Special safety or antitheft equipment can also reduce your premiums, in many cases. The number of miles you drive, the place where you store the bike, the size and style of the bike, the horsepower and age of the bike, may all affect your policy premiums.
If you are having difficulty with the price of motorcycle insurance, discuss these issues with your insurer. You may be able to make some changes to lower your premiums without taking on unacceptable additional risk.
Where can I buy motorcycle insurance?Often, it is less expensive to buy motorcycle insurance from the same company that insures your automobile. You simply add a miscellaneous-type vehicle endorsement to your regular policy. You may benefit from multi-vehicle discounts and have the benefits of dealing with only one agent.
However, many companies that underwrite automobile insurance consider motorcycle operators high risk and refuse to underwrite policies for them. Alternatively, they may assign a motorcycle policy to the "high-risk pool" where you will pay the same high premiums as the riskiest drivers on the road. In such cases, it might be better to seek out a separate insurer, one that specializes in motorcycle insurance. Such a company may be more willing to cover you, and may have a better understanding of your needs and requirements. If you are purchasing a motorcycle, be sure you have looked into the availability and price of motorcycle insurance before you buy.