Oh, the freedom of the open road! Motorcycle enthusiasts cover the entire spectrum of the population, including men, women, licensed teens, club members and yes, even presidents of major corporations are bikers.
Motorcycling has become a national phenomenon and is no longer restricted to traditional bikers and competitive sports.
Thousands of motorcycle clubs engage in rides and weekend events designed to attract entire families, CEOs of major corporations and of course, female motorcyclists, as well as the casual weekender. Others have discovered the enormous cost savings associated with riding their motorcycle to and from work each day.
As with all motor vehicles, choosing the right insurance policy is much like choosing the right motorcycle. You want it to fit your needs and lifestyle, but at the same time be within your budget. Although most states require you to carry a minimum amount of liability coverage, other types of coverage are usually optional. Always ask your insurance agent or company representative which laws apply in your state.
In order to find out what coverage is best for you, it is important to understand all the options available.
Motorcycle liability insurance covers bodily injury and property damage that you may cause to other people involved in an accident. It doesn’t cover you or your motorcycle. You will want to ask Weber Insurance if your coverage includes guest passengers. Guest passenger insurance provides protection for you in the event that a passenger is injured as a result of riding on the motorcycle. Not all states require insurers to include passenger coverage in a policy.
Collision insurance covers damage to your motorcycle if you are involved in an accident. Your insurance company pays for damages, less your selected deductible, caused when you collide with another vehicle or object. Collision insurance usually covers the book value of the motorcycle before the loss occurred.
Comprehensive coverage pays for damages caused by an event other than a collision, such as fire, theft or vandalism. However, just like collision coverage, your insurance company will pay for damages, minus your deductible, and will cover only the book value of the motorcycle.
Keep in mind most comprehensive and collision coverages will only cover the factory standard parts on your motorcycle. If you decide to add on any optional accessories such as chrome parts, a custom paint job, trailers or sidecars, you should look into obtaining additional or optional equipment coverage.
Uninsured and Under-Insured Motorist Coverage
Most of the States have passed laws that require uninsured/under-insured coverage. This coverage applies to damages to you and your property caused by another driver who either doesn’t have insurance (uninsured) or doesn’t have adequate insurance (under-insured) to cover your damages.
This coverage typically pays for medical treatment, lost wages and other damages. If your uninsured/under-insured motorist coverage includes property damage, then your motorcycle would also be covered under the same circumstances. Check with your insurance professional to see if property damage is included or needs to be purchased separately.
Guiding Principles for Saving on Costs
Like all insurance, many factors play a role in determining what your insurance costs will be such as your age, your driving record, where you live and the type of motorcycle you own, or being a graduate of a rider-training course.
Some insurance companies offer discounts from 10 to 15 percent on motorcycle insurance for graduates of training courses like the Motorcycle Safety Foundation (MSF) rider course. Riders under the age of 25, usually considered a higher risk, may see some savings by taking this course. It’s also a good idea for cyclists who have already had accidents.
Of course, maintaining a good driving record with no violations will also help reduce your premiums. If you are in states with extremely cold seasons, you can save some money by buying what is known as a “lay-up” policy, which suspends your coverage during times of the year when you cannot drive your motorcycle.
Owning multiple motorcycles and bike and organization club discounts can help save costs. Like most vehicle policies the cost of insurance is determined by age, driving record and bundling of insurance coverages. Of course, the availability and qualifications for various discounts will vary from company to company and state to state.
It is also true that the type, style (such as a sports bike vs. a cruiser) and age of the motorcycle, as well as the number of miles you drive a year and where you store your bike may also affect how much you pay for your premium.
Before you buy motorcycle insurance talk to your Weber Insurance agent for the latest information. Ask about bundling your motorcycle coverage with your home and auto policies.
Contact Weber Insurance in Prescott, AZ to explore Motorcycle Insurance coverage. See our Contact page to phone or email us