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Cost of Motorcycle Insurance

Motorcycle October 20, 2014

Evaluating the cost of motorcycle insurance is probably the second biggest decision you will make when purchasing a new or used motorbike. A good insurance policy can protect you financially in the event of an accident. Not only will you be able to find coverage to fix or replace your motorbike in the event of an accident, you will also be able to find coverage that can take care of medical expenses if you are injured.

Motorcycle insurance is not required in every state if you can believe that. Even if the state you live in does not require riders to be insured, it is always in your best interest to make sure you are covered. Anything can happen on the road and if it does you will want to know that you are covered for any accident. Without insurance you could be liable for any damage done to other vehicles, injuries related to the accident, and damage to your own motorbike.

So how is the cost of motorcycle insurance determined by the insurance company? Insurance companies look at several factors to determine the cost of the insurance policy. Your age, the type of motorbike you wish to insure, your driving record, and even where you live is a determining factor in the cost of your policy.

If you plan to insure a motorcycle such as a brand new Indian RoadMaster, then you can expect higher than normal premiums as compared to insuring a 2000 Honda Goldwing. Even the size of the engine is a determining factor. Basically, the faster the bike the more you are going to pay.

Insurance companies also pay close attention to your driving record. Even if you have never owned a motorcycle before, they still check how good or how bad of a driver you are behind the wheel of a car. They check for accidents, speeding tickets, and any type of moving violation you might have had. The cleaner your record, the better your chances are of finding a relatively low insurance policy.

Luckily, many insurance companies offer discounts for those individuals who have completed certain motorcycle safety training courses. Many state motor vehicle departments offer these courses for a small fee. Check your state motor vehicle department website for more information on motorcycle safety courses.

The cost of motorcycle insurance can be best determined by getting quotes from as many companies as you can find. Many insurance companies offer online quotes that only require you to fill out a short form. But sometimes you can get a discount with the insurance company you are already with. If you already have your home, car, and other insurance through a certain company, they may be able to offer you  a discount.

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