Posts Tagged insurance companies
Motorcycle Insurance
In this day and age of litigation, you simply cannot ride safely without motorcycle insurance. In many states, it is illegal to even be on a public road unless you have the minimum amount of insurance required by the state. Each state legislates what that minimum amount is, and it is in your best interest to always maintain at least that amount of coverage.
As a service to our readers, All About Bikes is providing a brief summary of the types of insurance commonly available. It is up to you, however, to check with your local authorities to get the most up-do-date and relevant information for your locale.
Liability Insurance
Liability insurance is usually mandatory because it covers bodily injury and property damage to other people. It does not, however, cover you or your bike. When you purchase this type of insurance always ask if it also includes guest passenger liability. This protects anyone who may be riding with you as a passenger on your motorcycle. Even if this added protection is not included in the standard liability insurance that you are required to have, it is a good investment to go ahead and get it.
Collision coverage
Most people will also buy what is called collision insurance. This insurance covers damages to your bike should you be in an accident. When you have this type of insurance, your insurance carrier will pay for damages to your motorcycle, minus your deductible, as long as the damages were caused by a collision with another vehicle or object. Generally speaking, collision insurance covers the current book value of the motorcycle before the accident occurred.
Comprehensive coverage
This type of insurance is usually not required by any state law, but it may be required by the company that is financing your motorcycle. Comprehensive insurance coverage pays for most damages caused by something other than an accident. This might include events such as theft, fire, vandalism or flood. If the insurance company approves your claim it will pay damages, minus the amount of your deductible, and it will only cover the current book value of your bike.
One side note to both collision and comprehensive coverage most insurance companies will price the value of what they will pay based on the standard parts of the motorcycle as it came from the factory. If you have customized your bike with other parts, such as chrome or custom paint work, side cars, etc; you will need to get added coverage in order to make up the difference.
Uninsured and Underinsured Motorist Coverage
This type of insurance protects you and your bike in the event you are hit by someone who either does not have any insurance or who has too little insurance. Generally, this type of coverage only pays for medical costs, any lost wages you might lose, and some other damages. Make sure that you get this form of insurance with the property damage rider which will pay for any damages to your bike as well. You can ask your insurance agent if property damage is included in your policy or not.
Lastly, if you have a vintage bike you may want to get special insurance to help cover the costs of replacing or rebuilding the bike. It is always best to speak with your insurance agent about this special type of coverage.
You may know it, but you can often save a good deal of money on your motorcycle insurance by doing a few things. Some issues such as age, driving record, and where you live are what they are, but other issues can be modified in ways to decrease your insurance premiums. Here are a few ideas
If you take and graduate from a rider train course, you can often save money. Some companies will reward you with a discount of as much as ten to fifteen percent on your premiums. The course offered by the Motorcycle Safety Foundation (MSF) is a good choice, and this especially true if you are under the age of 25.
Maintaining a good driving record with no violations or accidents will often help decrease your premiums over time.
If you live in a hard winter area where using your bike during those months is not possible, consider buying a lay up policy for those down months. If you buy this type of insurance, do not drive your bike while it is under this coverage. This can also be thought of as storage insurance.
Ask your insurance agent what discounts they offer. They may be able to tell you things you did not know.
Lastly, if you already have automobile insurance with a carrier ask if you can get a discount if you insure your bike with them as well. You can often save a good bit of money by staying with the same company.
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Save Money on Motorcycle Insurance
Gas prices have come down since last summer’s highs of $4 plus a gallon, but since they dropped, they’ve been steadily climbing. Somehow it doesn’t seem as bad since gas isn’t at the highest levels it’s ever been. But it is certainly more expensive that you ever intended to pay when you bought a car and decided to use it as your primary means of transportation. So you’ve finally had enough, and you bought a motorcycle. Good for you! But now you’ve discovered another hurdle; the price of motorcycle insurance.
It costs more to insure a motorcycle than a car for a couple of reasons. First, motorcycles are difficult for other drivers to see because they’re small and they can move quickly. This leads to more accidents. Although the other driver may be at fault too, if you are partially responsible for an accident, your insurance has to pay. They also pay if the other driver is uninsured or underinsured, provided that you purchase that coverage.
Motorcycle accidents are also more likely to involve significant bodily injury claims. Obviously this is a bigger concern than just an insurance problem, but it does drive the premiums up. You can help reduce this danger by driving carefully, or not driving your motorcycle when conditions are dangerous. Wind, rain, fog and other weather factors are more dangerous for motorcycles than for cars. Those are good days to drive a car or find another means of transportation.
Lastly, insurance companies base their rates on statistics. If the odds of a claim or the average dollar amount of a claim are high for the particular type of vehicle that you drive (or ride), your premiums will be higher. This helps them account for all kinds of things that they can’t identify, from hot-dogging drivers to unsafe vehicles.
So how do you keep insurance premiums from cutting into your gas savings? First, be a low risk driver. Make sure you drive safely all the time. Whether you’re in the right or not, do what it takes to avoid accidents. This will be reflected in your driving record. Second, shop around for insurance. Don’t just call your old auto insurance company and add your bike. Contact at least three companies and do your own motorcycle insurance comparison. It’s worth the time and effort. Since insurance of any kind is an ongoing expense that you probably don’t price out every year, it can really pay to do your comparison shopping every once in a while. The same applies to VIP pet insurance.
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An Overview of Motorcycle Insurance
Just like car insurance, motorcycle insurance protects you in the face of problems such as accidents, theft, fire etc. You need a minimum amount of coverage for this insurance policy. The great thing about motorcycle insurance is that you can customize it as you please. You can get cover according to your need and budget thus everyone can have motorcycle insurance without any issue. By having this insurance you will basically be sharing the perils of riding with your insurance company. If you do not have motorcycle insurance, you will entirely have to manage all the expenses which may crop up in case of an accident or any other mishap to your bike.
Other than having motorcycle insurance for your own protection, it is also mandatory in many societies to have this policy to ride a bike. For this reason, if you have to have insurance as law, you cannot do without it if you have to ride a bike. Nevertheless, these insurance policies have great benefits which justify your investment in them.
In simple terms, your motorcycle insurance will provide you with monetary aid if your bike gets involved in an accident or any other mishap such as fire, theft etc. This way, you will be saved from paying huge amounts for the damage or theft of your motorcycle. Some insurance policies also offer medical expenses which mean you will have nothing to worry about if you get hurt or hospitalized in an accident.
As not all motorcycle insurance policies are the same, it is imperative to do good research before you buy a policy. You should get multiple quotes from a number of insurance companies and evaluate them in terms of cover as well as charges. Once you have a number of options in front of you it will be such easier to make the decision.
There are a number of factors which influence the cost of your motorbike insurance. These include your experience as a rider, your need, the kind of bike you have etc. A rider who has profound experience is likely to get cheaper motorbike insurance compared to the one who has little experience on the road. If you want complete cover, of course you will have to pay more. Nevertheless, it is worth the prices as you get to have peace of mind once you have complete cover. You will also be saved from paying thousands of dollars in case of bike damage, theft, fire or hospitalization. So it is always best to go for comprehensive motorbike insurance even if you have to take a little financial burden to manage it.
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Harley Davidson Motorcycle Insurance
Harley Davidson motorcycles are considered to the high end motorcycles. It’s like the Harley Davidson bike owners have their own community which separates them from other motorbike owners. These motorcycles are more expensive therefore Harley Davidson motorcycle insurance also costs more compared to other bikes.
People may think that Harley Davidson motorcycle insurance should be cheaper since they are not fast bikes but this is not the case. Harley bikes are considered to be nothing short of collector’s items.
There are various reasons why these motorcycles have higher insurance premium. Firstly, no two Harley bikes are similar, thieves love these bikes. They can steal the bike and then modify it as per their liking thus making it very difficult to recover. Secondly, it is a common view to see Harley bikes standing outside pubs and bars. As per insurance companies view, there are more chances of drunken driving cases which could lead to accidents. This higher risk leads to higher premiums.
While looking out for an insurance company for your Harley bike, you need to make sure that you approach a company which specializes in insuring such bikes. The standard insurance companies may not be able to value your prestigious bike properly. There are various companies available who specializes in this policy. Even Harley Davidson itself provides insurance for its own motorcycles. Not only bikes, you can get the Harley apparels and accessories insured in such policies. You should also look out for discounts on your insurance policy. These discounts could be due to H.O.G membership, safety features in your bike, safe drier discounts or multiple bike owner discounts.
Getting the right insurance policy is very important because you want to enjoy the ride of your special bike instead to worrying about the insurance aspects of it.
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Motor Insurance Quotes
It doesn’t seem so long ago that the process of trying to gather a handful of motor insurance quotes needed military-style preparation and the tenacity of an Everest expedition.
Back then, gathering motor insurance quotes involved an entire Saturday of visiting High Street offices where a stuffy clerk would wade through mountains of paperwork, oblivious to the queue that was forming past the door and out on to the street.
After a couple of hours, with the all-precious quote grasped tightly in your hand, you’d move another twenty yards down the road to another insurance office and go through the whole process again in the hope of saving a few pennies.
On a good day, you might get to three or four offices before finally finding out that the first one you visited was the cheapest and you’d have to go back through the monotonous rigmarole at least one more time.
The introduction of insurance brokers made the task of obtaining motor insurance quotes much simpler even while they mainly operated from offices themselves. The queues were just as long but at least you had the opportunity to pick from several prices without having to go through the painful repetition of visiting other companies.
Today, the internet has made the task of finding motor insurance quotes easier than ever before. A reputable web site and a simple registration process puts you a few clicks away from a massive number of quotes of varying description. The best thing about it all is being able to find competitive prices whilst sat in your pyjamas and looking forward to enjoying the golf course instead of dreading the High Street!
Like office-based insurance companies, there are a great many online price comparison sites and nearly all of them have motor insurance quotes at the forefront of their business.
Sites such as Confused or Compare the Market currently enjoy unrivalled growth by providing visitors with a comprehensive one-stop shop of motoring deals and competitively priced quotes.
Because these sites act in the same way as an office-based insurance broker, customers can find a full collective of premium prices for their vehicle. Because the broker’s side of the deal doesn’t include any expensive overheads, the savings can be passed directly on to the customer by the insurance companies.
Once a suitable policy has been found, customers receive a reference number that can be used when contacting the insurance company directly. This enables the details to be recalled within the office immediately and makes the process of purchasing insurance brief and simple.
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