Comparing Motorcycle Insurance and Car Insurance

Motorcycle insurance is required for all riders.  Motorcycle insurance is very similar to car insurance in the ways that it protects and how its costs are assessed for those who are insured.

The Cost of Insurance

When it comes to the cost of motorcycle insurance, one of the biggest factors in determining a policy premium price is the type of motorcycle being insured. If the motorcycle is particularly fancy or has been upgraded, you can be sure that you will pay more than other motorcyclists.  This is also how it works for car insurance – the more expensive the car, the higher the cost of the car insurance policy. This makes sense on a basic level: if your pricy motorcycle or car is damaged or totaled, it will simply cost the insurance company more to repair or replace it than a motorcycle or car that is worth less.

A Brand Name Can Save You Bucks

A motorcycle that is made by a well known manufacturer will likely be easier and cheaper to repair and similarly, it will be easier to find appropriate parts and knowledgeable mechanics for a well known motorcycle. This is less of a problem for cars as most cars driven in America are at least fairly well known, but for those who drive cars made by less well known manufacturers, this will also hold true. Because it can be hard to find the parts for a more obscure vehicle, it is important, especially for motorcyclists who are looking to save on their motorcycle insurance, to own a vehicle that is common and well known.

The Types of Coverage

For both motorcycle insurance and car insurance, there are various types of coverage that a rider or driver may choose from. The most common types of insurance are liability, collision and comprehensive coverage. Liability coverage will protect you from being sued if you cause damages to another driver or rider; collision protects you and your motorcycle or car in the case of an accident. Comprehensive coverage protects you and your motorcycle/car in case of just about anything, including a fire, theft, vandalism, natural disaster or accident. It is important to know which types of coverage are required in your state and which ones are only recommended.  Keep in mind that the recommended coverage is recommended for a reason and can help prevent you from being an underinsured rider or driver.

Ways to Save Money

Motorcycle insurance, like car insurance, can be rather pricey so knowing ways to lower your premium is important. One of the most important keys of insurance is asking your insurance agent about special discounts you may qualified to receive. There are a few basic categories that fall into the discount category, keep these in mind when asking for discounts:

  • The type of vehicle you own
  • Your personal age, gender, profession, driving record
  • Where you live
  • Where you park the vehicle at night
  • Security measures, such as anti-theft devices
blog comments powered by Disqus