Comparing Motorcycle Insurance Rates

Buying motorcycle insurance can be an expensive endeavor, and you may be looking for great ways to save money on your purchase. In most cases, motorcycle insurance is required, and shopping around for coverage is a wonderful way to identify savings. However, keep in mind that the initial premium amount you are quoted may not be the actual amount you are responsible for. This is because many motorcycle insurance companies offer fabulous discounts that can result in premium savings for motorcyclists, and combining multiple discounts can help you to save even more money. These are some of the top discounts to look for when you are shopping around for coverage.

Bundled Policies Discount
One of the most common types of motorcycle insurance discounts you will find is a bundled policies discount. Each insurer may extend this discount in different ways, so inquire about the rules and requirements in place. For example, some will provide you with a multiple vehicles discount if you bundle coverage for your motorcycle and a car. Other insurers may offer different types of insurance, such as renter’s, homeowner’s or even life coverage. In some cases, the more policies you purchase, the greater your discount will be. Ensure that you will net savings on all policies if you choose to bundle coverage.

Safe Driver Discount
Many insurers also offer a safe driver discount for Youi motorcycle insurance, and there are different ways that this is applied. For example, some may offer a safe driver discount if you have no accidents or speeding tickets listed on your driving record for the past few years. Others may offer a discount if you take an approved driver’s safety course. You may have to take this course every year or two to maintain this discount on your policy. In some cases, both of these discounts may apply for maximum savings on your policy. Some insurers even provide an additional discount on your coverage if you are a safety instructor for a motorcycle safety class.

Age-Related Discount
When you are searching for savings on your motorcycle insurance, you may be aware that higher rates are typically applicable for younger drivers and that rates decline as you get older. Some insurers go a step beyond this by providing a maturity discount on top of the lower rates based on age. A variation of this may include a discount based on the number of years you have been a motorcyclist and if your years of experience includes an accident-free record.

Each of these discounts may provide you with savings of several dollars or more per month on your premium, and the best savings may be applied when you are able to combine these discounts together. Because the available discounts can vary based on which insurer you purchase your policy from, it is best to inquire about the discounts available when you shop for coverage. This will ensure that you compare the lowest possible quotes from each insurer.