The majority of states require a motorcycle insurance policy that contains liability coverage if you are a motorcycle rider. The purpose of carrying insurance is to protect other parties in the event that you cause an accident. But if you love that bike (and I know that you do), buying only the state required coverages won't protect that bike the way that you would prefer.
The following is an essential guide for purchasing both the mandatory and discretionary types of motorcycle coverage.
Get Multiple Quotes
Don’t settle for just one motorcycle insurance quote; this is perhaps the most significant recommendation concerning shopping for motorcycle insurance. You need to request multiple insurance quotes, at minimum three, to make a fair comparison. Take into account that the more quotes you receive, the easier it will be to decide on the optimum insurance policy at the ideal price. Be sure that all of the quotes you receive reflect all the coverages that you want. Doing so will enable a true "apples-to-apples" comparison.
Choose the Right Provider
Once you have evaluated the quotes, evaluate the companies that sent them. Remember, the lowest-priced motorcycle insurance is not necessarily the most prudent choice. A policy and a company are a package deal. Be sure to pick one you can live with.
While comparing various providers, consider the following:
How long has the company been around? It's usually safer to go with an insurer with a long track record.
Is the company in good financial shape?
What coverages do they offer? Pick an insurer with a wide array of coverage possibilities. It can be to your advantage, in the end, to pay a little extra up front for superior coverage.
Do they understand bikers? Do they specialize in motorcycle insurance or is it just another thing they sell?
How does the company do handling claims? Do a little research to find out the company's claims processes. Ask your family, friends, and colleagues if they have any claims experience with a particular provider.
How is the company rated by the Better Business Bureau and your state's insurance department?
How do they do at customer service? Try contacting the company by phone and online to get a feel for how easy it may be to get questions answered in the future.
Does the company have local agents to assist with any problems or concerns?
Does the company extend any special discounts?
Motorcycle Endorsement or Motorcycle Insurance - What’s the Difference?
In some states, you may find you have the choice to add a motorcycle endorsement onto your existing car insurance policy. Typically, this endorsement will extend your car insurance coverages to encompass your motorcycles. The attraction of a motorcycle endorsement is that your car and your motorcycle will be on one policy, making it easier to manage, particularly when it comes to paying the bill. The disadvantage to a simple motorcycle endorsement is that it will leave little to no flexibility to customize your motorcycle coverage. Your bike will carry the same coverages as your car.
Motorcycle insurance, on the other hand, can be fully customized to meet your coverage needs. For example, if you want to establish a different liability limit for your motorcycle than you have on your car, this can only be accomplished through the purchase of a separate motorcycle insurance policy.