Motorcycles come with a lot of responsibility. You need to learn how to operate the vehicle safely, learn the rules of the road, and how to obtain proper insurance. Motorcycle insurance can be a little easier to acquire than auto insurance. However, it is just as important as auto insurance. Follow these easy steps and you'll be ready to ride.
- Gather Your Information
Know your motorcycle. Year, make, model, and cc's are details about your bike the insurance company needs to know to give you an accurate quote. It may seem obvious, but frequently people do not know the model or cc's of their motorcycle especially if they purchased it years ago. Have the VIN number ready along with your personal information such as name, birth date, address, social security number, and driver's license number.
- Decide on Your Coverage
Motorcycle coverage is fairly similar to auto insurance. It is state law to maintain liability insurance while you are operating the vehicle. Physical damage coverage is usually determined by the value of the bike. It comes down to your own personal comfort level. Determine if the savings on your insurance is worth more than the risk of losing the value of the motorcycle. Check with your primary medical insurance to see if they will cover you in case of a motorcycle accident. If not, you will definitely want to carry medical insurance on your motorcycle policy. Also, if you have a lot of custom parts on the bike you will want to make sure they are covered properly. Coverage is an important conversation to have with your insurance agent to make sure you have it when you need it.
- Select an Insurance Provider
Start with your auto insurance provider. Multi-policy discounts often apply to a motorcycle policy if you have your auto insurance with the same company. If the rate is higher than you anticipated, call around to different carriers to see if they are in the ballpark. Some insurance companies, such as Progressive, specialize in motorcycle insurance.
- Provide Documentation for Discounts
Insurance companies want to verify that you qualify for certain discounts so you will have to provide proof. Common motorcycle discounts that require proof include being a member of a riding association, homeownership, and safety course certification. If you received these discounts and did not provide proof you will likely see a rate increase. It is much easier to have your proof ready at the time you start the policy so you do not forget about it later.
- Make Down Payment & Sign
Whenever you start a new insurance policy, it is typical to make an initial payment right away. Making your payment and signing on the dotted line activates your policy so you know you are covered. Some companies may offer online signatures, payment, and activation. Check for extra discounts within the payment plan you select. Several companies give a paid in full discount or a discount for signing up for automatic withdraw.
Many motorcycle riders cherish the time spent on their bike. Having the proper insurance can allow you to have fun without worrying about coverage. So before you hop on your motorcycle, be sure to have your motorcycle insurance in place.
