Motorcycle Insurance Is Special
You’ve been doing it since you were a teenager because your parents trained you to do it – when you buy a car, call your insurance agent before you drive it. They told you that you needed to add accident insurance to protect yourself…they scared you didn’t they?
Parents are beautiful, because that advice is perfect. Parents instill caution in us (and sometimes scare us) and that’s a good thing because it forces us to develop good habits.
By making it a standard operating procedure to insure your auto as you own as soon as you possibly can will help you avoid potential headaches in the long run.
When you buy a motorcycle you should do the same thing, call your insurance agent. But this can be tricky because not all insurance companies will write motorcycle insurance. So before you buy a motorcycle, check with your automobile insurance agent. When you start shopping it, call your insurance agent.
Understanding Special Motorcycle Insurance
Insuring Your Motorcycle
- Motorcycles are fast.
- Fast can be dangerous…from an insurance companies perspective.
- Insurance companies look at the risk of a vehicle.
- Motorcycle insurance is sometimes called specialty insurance because of the risk.
- Specialty insurance means it’s not like your standard automobile insurance.
- Your automobile insurance agent may not sell insurance on specialty vehicles.
- Your agent may not be able to just add your motorcycle to your current automobile insurance policy.
- You may have to start a different policy, and then again, they may not write insurance on it at all.
- When you are shopping for a motorcycle, work with your insurance agent, they may have to refer you to an insurance broker.
- Motorcycles are like cars in that they come in different years, makes and models.
- The faster, more powerful motorcycles are the ones that some automobile insurance companies do not write coverage for.
- The “cc’s” of a motorcycle will determine if your auto insurance company can insure it.
- Slower motorcycles are more standard.
- The motorcycles that race are not standard, so will require specialty insurance…again, fast is risky to an insurance company.
Premiums
- Due to the risk, insurance premiums may be higher than you were expecting.
- Your driving record is a factor in the insurance premiums.
- The coverages will affect your premiums.
- Your credit rating will impact your premiums also.
- Insurance companies take credit scores very seriously when determining insurance premiums.
- The same factors that affects your automobile insurance, will affect your motorcycle insurance premiums.
Related Posts:
