Motorcycle Insurance FAQ

Here are a few commonly asked questions we come across, relative to motorcycle insurance.

1. What are the criteria used by motorcycle insurance companies to estimate the cost?
There are several. Here are some of the areas they would look at –

The cost of the bike. If your bike is a premium make with a hefty price tag, you can expect your insurance price to match.
Your age. The younger you are, the more your insurance will cost. Companies work on the assumption that if you’re young, you are more likely to be reckless behind the handlebars.
The area where the bike is garaged. Different areas are differently categorized. Typically, an area that is theft prone or has a history of vandalism will attract a higher premium cost.
Your driving history. If your track record is clean it will reduce your payment. But if you are accident prone, it’s going to hike the cost.

2. What is the ideal coverage I need?
No hard and fast rule on this one. Your best bet is to decide what the insurance features are that you need and how much your budget will stand. Just make sure that should you have an accident, you are sufficiently covered for your insurance provider to pick up the bills, and not you.

3. What will motorcycle insurance cost me on average?
There is no such thing as an average cost. It depends on several variables some of which are mentioned in question 1. Your best bet is to go online and get as many quotes as possible to know the price range.

4. What steps can I take to reduce my premium?
Several which we’ll try to list –

  • If your bike is garaged the premium will reduce.
  • Install some approved anti-theft devices like an alarm or a wheel lock.
  • Take a DMV or similar course in advanced bike riding which insurance companies like to see. A rider with such a certificate will know the finer points of riding and can be presumed to ride responsibly behind the handlebars.
  • Ask for multi-product options from the various companies you approach for a quote. This is the best way of getting a cheap motorcycle insurance deal.
  • Buy motorcycle insurance online and cut out the middleman. Most insurance companies will pass on a discount to you.

5. Can I purchase motorcycle insurance online?
Of course you can. That’s one of the advantages of modern technology.  You should surf the net and fill in online applications with as many motorcycle insurance companies as possible before deciding. Check out the features they offer and whether these are sufficient for you, then go for it. But first, make certain of the company with whom you are dealing. There are unfortunately, many fly-by-night operators on the internet.

6. Are there any advantages in online purchase?
Yes there are. To start with, by buying motorcycle insurance online you bypass the middle man. Since insurance companies do not have to part with a commission, they usually pass on the benefit to you with a cost reduction.

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