Tips for Shopping for Motorcycle Insurance

Motorcycle insurance is required by law in 49 of 50 U.S. states, essentially being a must-have for any rider who wants to enjoy the freedom and thrill of the road. But how do you find the best policy for your needs and budget? Explore our tips to help you shop for motorcycle insurance and get the most out of your coverage.

Compare Quotes from Different Insurance Providers

One of the best ways to save money on motorcycle insurance is to compare quotes from different providers. You can use online tools or contact agents directly to get estimates for your bike and personal information. An insurance broker is a great option because they will save you time shopping, as they work with various companies and can recommend the best choice for your circumstances. By comparing quotes, you can see how different factors affect your premiums, such as your age, driving record, location, type of bike and coverage options. Common discounts and special offers may apply to you, such as bundling your motorcycle insurance with other policies, taking a safety course, or being a member of a motorcycle club.

Research the Insurance Company’s Reputation

Conducting thorough research on an insurance company's reputation is essential to ensure you receive reliable and prompt service. Understanding the financial stability of the insurance provider is a key aspect. Utilizing unbiased resources like AM Best allows you to assess the company's ability to meet its obligations and pay claims. A company with a strong financial rating is more likely to handle your claims efficiently, providing peace of mind during stressful times.
Reading through customer reviews and testimonials can offer insights into the company's customer service practices. An insurance company with a history of positive feedback and high customer satisfaction rates is likely to provide a positive overall experience.

Tailor Your Coverage to Your Needs

Choosing the right coverage for your situation can make all the difference when unforeseen circumstances arise. No one plans to have a disaster strike, but we can prepare for it. It’s important to understand what’s covered and what policies you may need. Motorcycle insurance typically includes the following types of coverage:

• Liability coverage: Covers damage and injuries you may cause to others in an accident. It is required by law in most states, but the minimum limits may not be enough to cover the full costs of a serious accident. You may want to consider higher limits or an umbrella policy for extra protection.
• Collision coverage: Covers damage to your bike in an accident, regardless of who is at fault. It is optional but recommended if you have a newer or more expensive bike that would be costly to repair or replace.
• Comprehensive coverage: Covers damage to your bike from non-collision events, such as theft, fire, vandalism, or weather.
• Uninsured/underinsured motorist coverage: Covers damages and injuries you suffer in an accident caused by a driver who has no insurance or not enough insurance. It is optional in some states but required in others. It can help you avoid paying out of pocket for medical bills and repairs.
• Medical payments coverage: Covers medical expenses for you and your passengers in an accident, regardless of who is at fault.
• Personal injury protection coverage: Covers medical expenses, lost wages, and other expenses for you and your passengers in an accident, regardless of who is at fault. It is optional in some states but required in others. It can help you cover more than just medical bills, such as childcare, household services, and funeral costs.
• Custom parts and equipment coverage: Covers the cost of repairing or replacing any custom or aftermarket parts and accessories on your bike, such as chrome, paint, or stereo. This may be recommended if you’ve invested a lot of money and time in your bike.
• Roadside assistance coverage: Covers the cost of towing, battery jump, flat tire, fuel delivery, or locksmith services if your bike breaks down on the road.
  You should choose coverage that suits your bike and situation, depending on how much risk you are willing to take and how much you can afford to pay. You can also adjust your deductibles and limits to find the balance between coverage and cost.

Review Your Policy Regularly and Make Updates as Needed

To ensure you’re fully protected, it is important to review your policy regularly with an agent and update it as needed. Your insurance needs may change over time, depending on your bike, your lifestyle, your driving habits and your financial situation. You should check your policy at least once a year, or whenever you make a significant change, such as buying a new bike, moving to a new place, getting married, or adding a rider. You may be able to lower your premiums or increase your coverage by updating your policy to reflect your current situation. Remember to compare quotes from different providers, choose the right coverage for your bike and situation and review your policy regularly and update it as needed. Gear up with quality coverage and ride with confidence and peace of mind.