If you’re a motorcycle enthusiast, you understand the thrill of the open road. But do you also want to enjoy the thrill of saving money on your motorcycle insurance? You’re in the right place! We’ve done the research and uncovered seven common myths about motorcycle insurance and how to save money on it. So, let’s debunk these myths and help you ride with confidence while keeping your wallet happy.
Myth 1: You Don’t Need Insurance
Some might argue that motorcycle insurance is unnecessary, but that couldn’t be further from the truth. Riding on public roads without insurance is not only risky but illegal in most places. Unpredictable road conditions, reckless drivers, and unexpected wildlife encounters are just a few reasons why having motorcycle insurance is essential. Plus, getting caught without insurance can lead to hefty fines and even license suspension. Get the cheapest car insurance.
Myth 2: Motorcycling is Too Expensive Due to Insurance Costs
While insurance costs can vary, they are influenced by factors like the type of motorcycle you ride, your age, and your driving history. Sport bikes, cruisers, and dual-sports all come with different insurance costs, and even within these categories, rates can differ based on the specific model’s history. Younger riders typically face higher premiums due to perceived inexperience. However, as you age and gain more riding experience, insurance costs tend to decrease.
Myth 3: Traffic Tickets Always Increase Premiums
Not every traffic ticket automatically raises your insurance premiums. Parking tickets, for instance, usually have no impact. However, more serious violations like reckless driving can significantly affect your rates. Many states offer driver safety courses that can help offset the negative effects of traffic tickets on your insurance. So, don’t assume every ticket will break the bank.
Myth 4: Roadside Assistance is a Waste of Money
Ever found yourself stranded on the side of the road with a flat tire and no way to fix it? Roadside assistance can be a lifesaver in such situations, and it’s surprisingly affordable, often costing just a few dollars per year. Having this coverage ensures you won’t be left waiting for a tow truck or relying on a friend’s help.
Myth 5: Minimum Liability Coverage is Sufficient
Minimum liability coverage might be the legal requirement, but it’s not always enough to protect you in case of an accident. If you’re involved in a crash, minimum coverage usually only covers damage to others, not yourself or your motorcycle. Investing in comprehensive coverage and adjusting your deductible can save you money in the long run and provide peace of mind.
Myth 6: Insuring Your Car and Motorcycle with Different Companies Saves Money
Insuring your car and motorcycle separately with different companies won’t necessarily keep your premiums lower. Insurance companies assess your driving record, not the number of policies you have. To maximize savings, consider bundling your vehicles under a single insurer, which often leads to discounts. Know how to get low-income car insurance
Myth 7: Set It and Forget It
Don’t fall into the trap of neglecting your insurance policy. Over time, your needs may change, and better deals may become available. Regularly shop around for quotes to ensure you’re getting the best coverage at the best price. Progressive Insurance, our proud partner, offers free quotes to help you save money.
The Best Motorcycle Insurances:
Here, are some best motorcycle insurance websites:
Progressive Motorcycle Insurance: Progressive offers a variety of coverage options and competitive rates. They are known for their excellent online tools and discounts. Visit Progressive
Geico Motorcycle Insurance: Geico is a well-established insurer with a strong reputation for competitive rates and customer service. Visit Geico
Allstate Motorcycle Insurance: Allstate provides comprehensive coverage options and a network of agents for personalized service. Visit Allstate
Nationwide Motorcycle Insurance: Nationwide offers customizable policies with features like accident forgiveness and roadside assistance. Visit Nationwide
State Farm Motorcycle Insurance: State Farm is known for its personalized service and coverage options tailored to individual needs. Visit State Farm
Dairyland Motorcycle Insurance: Dairyland specializes in motorcycle coverage, making it an excellent choice for riders with unique needs. Visit Dairyland
Markel Motorcycle Insurance: Markel offers customizable coverage options and has a reputation for excellent customer service. Visit Markel
Rider Motorcycle Insurance: Rider provides specialized motorcycle insurance, focusing on riders’ unique needs. Visit Rider
Conclusion
Motorcycle insurance is a critical aspect of responsible riding. It provides financial protection and peace of mind while on the road. it’s clear that motorcycle insurance is not just a legal requirement but also a crucial safeguard for riders. It offers both financial protection and peace of mind, ensuring that you can enjoy your motorcycle adventures without worrying about potential risks and expenses. By dispelling these common myths and making informed choices, you can enjoy your motorcycle adventures while keeping your budget in check.
Frequently Asked Questions (FAQs)
What Does Motorcycle Insurance Typically Cover?
Motorcycle insurance typically covers liability (bodily injury and property damage), collision, comprehensive (damage not related to collisions, e.g., theft or vandalism), medical payments, and uninsured/underinsured motorist coverage. The specific coverage can vary based on your policy and state regulations.
How Is Motorcycle Insurance Premium Calculated?
Motorcycle insurance premiums are calculated based on several factors, including your age, riding experience, the type and model of your motorcycle, your location, and your driving history. Additionally, the coverage options and deductibles you choose can impact your premium.
Do I Need Motorcycle Insurance if I Only Ride Occasionally?
Yes, you typically need motorcycle insurance even if you ride occasionally. Most states require minimum liability coverage for motorcycles to legally operate on public roads. Even if it’s not a legal requirement, insurance provides protection in case of accidents, theft, or other unforeseen events.
Can I Get Discounts on Motorcycle Insurance?
Yes, many insurance companies offer discounts for various factors. Common discounts include safe rider discounts, bundling policies (insuring multiple vehicles with the same company), completing a motorcycle safety course, having anti-theft devices on your bike, and maintaining a clean driving record. Ask your insurer about available discounts.
What Should I Do in the Event of an Accident?
In the event of a motorcycle accident, you should prioritize safety and seek medical attention if needed. Next, exchange information with the other party involved, including contact and insurance details. Report the accident to your insurance company promptly. It’s essential to document the scene, gather witness information, and take photos for insurance purposes.