Going without insurance is often extremely reckless, not to mention illegal. Most people have to carry auto insurance by law. The same goes for motorcycle insurance.
Motorcycles are both harder to control and less visible on the road than the average car. They also expose the rider to greater environmental threats. Motorcycle insurance covers the unique, enhanced risks inherent in motorcycle ownership.
It is safe to say that every biker wants to save as much money as they can on their motorcycle insurance policies. Fortunately, there are ways to save on your policy without compromising coverage. Consider these tips to buy the most affordable policy.
1. Don't Under-Insure
Most states require all drivers, including motorcycle riders, to carry minimum levels of liability insurance. If you don't carry this coverage, you will likely face penalties. So, never carry less than the minimum.
That said, you should also adjust your insurance coverage to meet your needs. Minimum coverage levels might not offer effective coverage in the event of a bike accident. Should an accident occur, you might have to pay high costs out of pocket. But with higher coverage levels, you'll likely be covered.
2. Don't Over-Insure
Since the minimum required coverage might not provide enough coverage, you might feel tempted to buy lots of coverage for your motorcycle. Yet, there is such a thing as too much coverage. If you carry coverage that exceeds any feasible usage justifications, you may pay for coverage you will never use.
When buying coverage, make sure you have enough to cover the value of your bike, personal property and injury risks. You also must consider if you have enough coverage to compensate others should you be deemed at-fault in an accident. These factors can help you determine your coverage levels.
3. Look for Policy Savings
Take advantage of savings offered by your insurer. When you talk to your agent, ask about ways you might save on your payment plan.
- Consider increasing your deductible. Your deductible is the amount of money you're financially responsible for before your insurer pays a claim. If you increase your deductible, it can slightly decrease your insurer's risk of covering you. Your insurance company might discount your coverage for that reason.
- Insurers also offer a variety of service discounts. These might include auto payment discounts or accident-free discounts. Insurers often use discounts to encourage customer loyalty through savings.
Get coverage today! Call Fulton Agency, Inc. at (954) 752-8610 for a fast, free Fort Lauderdale motorcycle insurance quote.