When you start the task of shopping for motorcycle insurance, many people want to know how to get the best rate possible. Where can you find the best discounts to lower your premium? Well you have come to the right spot! We will cover that information below!
1. Shop around
Make sure you choose an insurance company that has a good reputation when dealing with their consumers. Look for companies that have a track record or paying out when accidents happen and in a timely manner. I am sure that you have heard of cases where a consumer has had rave reviews about how quick and efficient their payout was at the time of an accident or crisis. On the other hand, there are horror stories of people dealing with insurance companies that don’t payout to their customers, and their customers are forced to bring in legal representation and go to court. No one has the time or money to spend on court fees!
2. Do they have the correct insurance for your motorcycle?
When choosing a motorcycle insurance company, you need to make sure they have the correct insurance for your particular motorcycle. This can be critical in finding the best motorcycle insurance discount.
For example, a regular (stock) motorcycle insurance policy may be $110 per month. But, if you have a “custom” motorcycle with a unique frame, handlebars, exhaust, etc. you want to make sure that your policy will cover all these custom features. In some cases, custom motorcycles have seen a monthly premium that is double of what a stock motorcycles monthly premium cost. Just something to keep in mind when shopping for discounts on motorcycle insurance if you have a custom motorcycle.
3. Common policy discounts
Looking for insurance companies is not fun, but it is even more excruciating when you’re looking for discounts for motorcycle insurance on top of it! This is a necessary process in order to find the lowest premiums and discounts available. The list below is an overview of some motorcycle insurance discounts that should be available through your motorcycle insurance company:
- Your age: In most cases if you’re over the age of 25 you can qualify for a discount for your motorcycle insurance. Riding patterns of an 18-year-old are far different than those who are 60 years old.
- What kind of motorcycle do you own: If you have a Harley, which is more of a cruising motorcycle, your premium will more than likely be lower. If you have a high-performance Suzuki “crotch rocket” your premiums will be higher.
- Where do you live: This is a factor due to how many accidents may happen each year where your motorcycle is insured. Theft statistics that involve motorcycles could also be a factor in the cost of your premium.
- Clean record: If you haven’t filed a claim or have not had any traffic or speeding tickets within a certain time frame, this can also help with discounts. Rates have been dropped as low as 10% with some insurance companies based on a clean driving record.
- Motorcycle Safety Courses: If you have completed a motorcycle safety course, it can often times help with discounting your motorcycle insurance. Picking a course through the Motorcycle Safety Foundation is a must because they are the only organization that is approved by insurance companies. Motorcycle safety courses can sometimes get you between a 10%-15% discount on your motorcycle insurance.
- Multi-policy discount: Having multiple policies through the insurance company will also give you a bigger discount (bundling). Some of the policies could be homeowners, automobile, motorcycle, etc.
- Multi-motorcycle: If you have more than one motorcycle, make sure you’re insuring them through the same company/policy. Discounts range from 10%-20% when adding additional motorcycles to a policy.
Below are also some other areas you can check in to for deeper discounts on your motorcycle insurance:
- Anti-theft device
- ABS braking and traction control
- Member of Motorcycle Safety Foundation or HOG (Harley Owners Group)
- Paying premium in full
As with any insurance policy, get multiple quotes, ask questions, and read through your policy thoroughly. You not only want to get a low rate, but also make sure your getting the best insurance policy for you and your motorcycle.
If you have any questions on motorcycle insurance, Click Here to have one of our agents reach out to you.
Thank you for reading and come back for more great insurance information!