What could be better than life on the open road? The wind blowing in your face and the revving of your engine makes driving a motorcycle liberating, but it’s important to consider the risks. As a motorcyclist, you’re faced with the fact that fatal accidents occur 27 times more on motorcycles than other vehicles (https://www.nhtsa.gov/road-safety/motorcycle-safety). You know the risk and so does your insurance agent.
The Type Of Motorcycle Matters
Each motorcycle is different and therefore insurance can be challenging to get on certain bikes. For example, horsepower and a design for high speed have a direct link to how much your insurance can cost or if your company will even insure it. Motorcycles that are designed to go very fast in a short period of time tend to be difficult to insure and can be very expensive because of the higher potential for injuries. On the other hand larger motorcycles that are designed for cruising in comfort and for touring tend to be much less expensive to insure because they just have fewer claims.
Looking past all that, it’s important to take note that some accessories and add-ons could also require extra coverage. Sure, that custom exhaust system may look cool and you may be able to use a sidecar from time to time, but does your policy provide coverage for aftermarket or non-original manufacturers equipment? Many carriers provide a small amount of accessories coverage to cover Helmets, Leathers, and gear. But usually, it’s a small amount and may be limited to accessories of this nature and not intended to cover upgrades of equipment or Non-Original Manufactured parts. It’s important to review your specific needs with your agent to make sure your policy is designed for you and your bike.
Consider Medical Payments on your Insurance
Medical payments, also known as MedPay, simply covers medical-related expenses for you or a passenger because of a motorcycle accident, regardless of fault. Depending on where you live, MedPay may not be required, but it could be worth the investment. That being said, medpay can be expensive so consider Health Insurance you may already have or if you would need to cover a potential passenger.
What About Discounts?
With most types of insurance, you can usually find some form of discounts on your coverage. One perfect example would be that of a motorcycle safety course. Designed to make you a safer driver, safety courses can often result in discounts off of your insurance policy. Seeing as these discounts can often add up to nearly 15%, you may want to consider finding the closest test center.
You can also receive discounts by bundling your separate policies. By bundling your auto, home, and motorcycle insurance policies, for example, you may find yourself partaking in high discount rates for some or all policies.
Buying a motorcycle is an exciting investment, but it’s also one that can cost a lot. Worry less about the cost of insuring your motorcycle and more about getting out on the open road by scheduling a meeting with our team at Adkins Insurance at (417) 883-3434.