Ways to Save Money on Motorcycle Insurance

Start out the new riding season by looking for ways to save money on motorcycle insurance. People often get insurance on their motorcycles and then never give it another thought, except to pay the premium. There are many possible ways to save some money on motorcycle insurance policies.

Take a Motorcycle Safety Course

Just because you know how to ride a motorcycle doesn't mean you cannot benefit from taking a motorcycle safety course. Consider it a refresher to remind you of some safety features. Once you pass, take your certificate to your insurance agent and ask for a discount on your motorcycle insurance.

Join a Motorcycle Club or Organization

The American Motorcycle Association offers discounts on many things, including motel stays, rental cars and motorcycling events. Your insurance company may offer you a discount for being a part of this organization. Being a member of the AMA will also help you locate motorcycling events and motorcycle safety courses, and it will keep you up-to-date on motorcycle laws.

Review Your Motorcycle Insurance Policy

Have you checked your deductibles and medical insurance coverage since you purchased the policy? If you have had your motorcycle for several years, you may want to consider raising the deductible or even changing the collision amounts. Insurance companies also allow you to place driver exclusions on your policy.

If you have a younger driver in your household, or someone that doesn't have a good driving record, your motorcycle insurance may be higher just because they live with you. Putting an exclusion on your insurance for this person states that they will not be driving the motorcycle. This could lower your insurance premium.

Medical coverage on a motorcycle policy is expensive. If you have medical coverage at your place of employment, remove any medical coverage from your motorcycle policy. This means that if you have an accident and need medical attention, your health care policy will pay the bills, not your motorcycle insurance.

Consider What Type of Motorcycle You are Purchasing

Before you purchase a new or used motorcycle, check with your current insurance company to compare rates. Some motorcycles, such as sport bikes, will cost more to insure. Older, cruiser-type motorcycles will cost less. Sport bikes have a reputation as being racing bikes while cruisers are more for street riding.

You may not be able to afford the insurance on a brand new sport motorcycle, no matter how badly you want it. If you are determined to have one, choose a used sport bike. You will save a substantial amount on motorcycle insurance.

Sources:

American Motorcycle Association

Insurance Web

Bank Rate

247 Quote Us