Owning a good motor insurance policy is essential if you own a motorcycle or any vehicle. Excellent motor insurance is critical because you know you’re covered in the event of a collision or other accident. Vehicle damage or injury to other drivers is not an ideal situation, but it does happen.
Being prepared for these situations is essential by purchasing a great insurance policy. But insurance sales have come to have a bad reputation. You’ll want to choose an excellent policy that has you covered. Here are some of the most frequently asked questions when purchasing a motor insurance plan.
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1. How Much Do You Drive Your Motorcycle
When you’re purchasing motorcycle insurance, the first thing you should consider is how much time you spend on your bike. Motorcycles are often used as secondary transportation. But many people use them as a primary method of travel. Determine how many miles you put on your motorcycle daily.
If you use your motorcycle only occasionally, you can opt for a low-mileage policy. But if your motorcycle is your primary means of getting from point A to point B, opt for a high-mileage policy.
2. Where Do You Park Your Motorcycle?
The location where you live and where you mainly park your vehicle greatly affects the insurance policy you need. If you live where there is no private parking or driveway, you will be parking your motorcycle or other vehicles on the side of the road. It increases your chances of your vehicle getting hit.
Drivers who park their vehicles on the road are more likely to be hit than drivers parking in a driveway or lot. Living in a city will raise your insurance premium. Living in a suburb or rural area will decrease premiums.
3. How Many People Will Be Driving the Motorcycle?
Cars are usually driven by at least a couple of people in the same household. When you own a vehicle, most insurance will cover occasional additional drivers. However, if you have someone else driving your motorcycle every single day, they will need to be listed on your policy. Before buying a motorbike insurance policy, make a list of all the people in your household that will be driving the vehicle. Most often, motorcycles are only driven by one person.
4. What Forms of Coverage Do I Need?
This is possibly one of the most frequently asked questions for someone in the market for motorbike insurance. The types of coverage you will need can vary. You may decide you need more coverage than your agent is offering you.
- Direct compensation property damage coverage is necessary because you will receive compensation directly from your insurance company. You will not need to jump through a million hoops to get the compensation you deserve.
- Uninsured auto coverage protects you from situations where the other driver does not have insurance. You will receive compensation even in a hit and run event.
- Accidents benefit coverage is necessary because you will be provided with compensation for medical assistance for any injuries. Funeral expenses may be covered up to a certain percentage in the event of death. In 2016 alone, there were 5,286 fatalities due to motorcycle accidents.
5. Does Your Policy Have Third-Party Liability Coverage?
Third-party liability coverage is important for everyone, but especially if you own a motorcycle. This protects you from being liable for damage to property or injury/death of another person. You will not be responsible for any financial penalties.
6. How Can I Get the Best Rate?
Most likely, the question on every reader’s mind is how to get the best rate when choosing motor insurance. It is important to find a policy with all the mandatory coverage, all your preferred optional coverage, but at the best price available. The best way to get a great rate on a policy is to ask your agent about discounts. Insurance policies offer a variety of discounts, such as:
- Multi-line discounts
- Club or associations
- Clean driving record
- The amount you drive on average
The Bottom Line
Many questions are going through your mind when purchasing motor insurance. This list covers some of the most frequently asked questions, but you will want to make a list of questions on paper before meeting with an agent. Motorcycles are at risk for the most collisions and accidents over any other transportation. This makes choosing the perfect insurance policy crucial.
Along with having an excellent insurance policy, always take as many safety precautions as possible on your motorcycle. Consider a motorcycle safety course. Motorcycle safety courses will not only keep you safe on the road, but they may also help lower your insurance premium.
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