Motorcycle Insurance: 6 Ways to Save

 

Motorcycle riders are a breed apart from your typical car drivers, glad to feel the wind in their face and undeterred by the warnings from mom about the dangers you'll find lurking around every corner.  Sure, bike riding can be risky and a serious accident on two wheels can be much more devastating than when driving on four, surrounded by a steel cage with safety add-ons like airbags.  But for careful riders with proper safety gear, a registered motorcycle safety course under their belts and a healthy respect for the risks of the road, motorcycling can be a great way to go.

Ensuring You've Got Proper Insurance

One critical piece of your motorcycling protection is having the proper motorcycle insurance in place.  In North Carolina, every vehicle being driven on public roads is required to have at least a minimum amount of basic liability insurance in case you're the cause of an accident that injures or kills another person or causes damage to someone else's property.

While it won't save you money on the cost of your insurance, carrying more than the required minimum amount of liability coverage could save you a huge amount of money in the event that you're found responsible for causing an accident where someone dies or is seriously injured and you become the defendant  in a liability suit.  Judgements in these types of suits can run into the thousands, hundreds of thousands or even millions of dollars.  Your best protection is to carry five or ten times the required amount of bodily injury liability insurance.  You may also want to consider an umbrella policy for the best all-around liability protection.

Here are six ways to save on your motorcycle insurance:

1. Always shop around and get quotes from several insurers.  It doesn't make sense to pay higher rates charged by one company when another insurer provides the same service at a lower price.  
2. Older, smaller, slower bikes will have lower insurance costs.  Choose your bike wisely.
3. If you only ride occasionally, ask for an infrequent rider discount.  While you're at it, find out about every discount offered.  There may be several.
4. If your bike isn't worth too much, dropping your comprehensive and collision coverage will save bucks.  If your bike has a lienholder, however, this won't be possible.
5. Raise your deductible.
6. Keep your bike secure with chains, locks and/or alarms.  Keep it garaged when not being used.