Hitting the road with the horsepower beneath you, the wind in your hair and not a care in the world. Ah. Wait! If you don’t have adequate motorcycle insurance, you really do have something to worry about. A bad accident which damages your bike and injures yourself or your passengers or others can take all the joy out of motorcycling. Not only is riding a motorcycle without insurance a bad idea, but in most states, riding a motorcycle without proper insurance is illegal.
Motorcycle owners will need to choose between two main types of policies, much like they do with auto insurance—simple liability or a more comprehensive type of plan. Basic liability coverage protects property damages and bodily injury expenses to others in an accident where you are at fault. It is the bare minimum, legally-required coverage in most states.
A full comprehensive and collision package will cover your motorcycle if it is stolen or damaged in an accident, regardless of fault. Comprehensive coverage protects against theft, fire, vandalism, storm damage or other things that are beyond your control. Collision coverage will pay for repairs after a collision if your bike is totaled or damaged.
If you’ve already blown most of your budget on your bike (and those leather chaps), you’re still in luck. With a few money-saving tips, you can still afford adequate motorcycle insurance coverage to protect your equipment and yourself.
Covering Guest Riders. If you ride alone, then be sure that you are not paying extra for a guest rider. Guest Passenger Liability covers you if a passenger on your bike is injured in an accident. Eliminating this coverage results in savings, but, of course, if you do have riders, even occasionally, you would want to make sure that you and they are properly covered.
Older bikes may save you more: Of course you will want to opt for full comprehensive and collision coverage on your brand-new red bullet bike, but if your motorcycle is an older model, you may want to reduce the coverage to a basic liability policy and save a lot on the premiums.
Shopping around and comparing rates and insurance companies is always good advice. You will find that rates vary a lot from company to company, so do your research and select the company that offers you the best coverage for the best price.
Don’t forget to start with the company who carries your other insurance policies as a multiple-policy bundle discount will usually apply. Then, put on your leathers and ride like the wind, with the assurance that, whatever happens, you’re covered.
By Matt Reynolds - Google+