Recently we have been talking a lot about car insurance. But what about motorcycle owners? They need insurance too! Whether you have a Ducati, BMW, Suzuki, Harley,
Honda, Kawasaki Ninja, or Yamaha, you will need to get motorcycle insurance. Trust us, your dealer
will not allow anyone to drive off their lot until they have proof of motorcycle insurance. So is it much different from auto insurance? Here are 7 basic facts about motorcycle insurance.
1. Good drivers with clean driving history get discounts
What happened in the past affects the future. It doesn’t matter if you were just getting your new ride,
the insurance companies will look at your past driving records (usually
in the past 3 years) to see if you have any accidents or claims. If you
have a clean driving record for the past 3 years, you will pay less
money for your motorcycle insurance premiums.
2. Motorcycle insurance with comprehensive and collision
Most motorcycle insurance coverage
we know includes the basic liability. This basic insurance plan will
not cover everything for your new motor bike if you get into an
accident. Make sure you get the “full-coverage” which also known as
comprehensive and collision to protect your new bike. The collision
coverage will cover your new motor bike if you are at-fault in an
accident and the comprehensive coverage will cover anything else other
than the collision.
3. Gap Insurance?
What is Gap Insurance? Well let’s put it this way, the insurance company will only pay for what your motor bike is worth if
you get into an accident and destroy your ride. If you got into an
accident and totally destroy your motorcycle, but you owe more money
than it is worth on your financing.
This is when Gap insurance comes to play; it is different from motorcycle insurance.
The gap insurance covers the “gap in your coverage” it covers between
what your motorbike is worth and what the insurance company will pay
you. Many financial institutes will offer you gap insurance. If you are
too worried about paying more money out of your pocket after your bike
is totaled, then you should consider getting gap insurance.
4. Places you go to and places you park
If you are planning to only ride your new motor bike only on the
weekends, you should tell your insurance company. If you don’t ride your
motorbike to work or not, there is a big difference in the price as
The same thing with where you park. There will be additional discount
for people parking their motorcycle in a garage. Motorcycles parking
outside in the open are more likely to get stolen or damage than
motorcycles park in lock garages. This is why they give discounts.
5. Does motorcycles need chrome insurance coverage?
Hooking up your bike nice is great and all, but is it covered under insurance? Chrome air filters or saddlebags are not usually cover by most motorcycle insurance plans. To have the extra items cover under your motorcycle insurance plan, you will have to talk to your insurance agent about additional coverage options.
6. Get more discounts on your motorcycle insurance
Everyone loves a good discount. You might get another 10%-20% on your motorcycle insurance if you have
completed a motorcycle safety class. When getting your motorcycle
insurance quotes make sure ask about the discount. This may save you
$100 dollars each year which is a huge plus.
7. Save more money and time on your motorcycle insurance by shopping with American Insurance
The best way to find the greatest deals on a motor cycle insurance plan is to shop around. And not to throw in a shameless plug here but in New Jersey, the best place to shop around for motorcycle insurance is through us – American Insurance Services Agency. We will actually do the shopping for you, saving you time that you would be wasting on contacting multiple insurance companies. We find the lowest rates through our extensive network so you don’t have to.