Key Motorcycle Insurance Saving Tips

Tips to save money on motorcycle insurance

Key Motorcycle Insurance Saving Tips

Thousands of motorcycle collectors trade stories at different shows and exhibits every year. Perhaps you are a collector or simply enjoy riding motorcycles. Motorcycles are valuable assets. However, riding a motorcycle can be dangerous. Similar to driving a car, riding a motorcycle presents unique variables while you’re out on the road. Obtaining motorcycle insurance is important. If you’re searching for coverage while you’re on a budget, consider using some of these tips to save money on motorcycle insurance.

  • Choose a Modest Motorcycle

    Research shows that luxury motorcycles cost more to insure compared to traditional motorcycles. Insurers often charge higher insurance rates to people who own luxury motorcycles because the potential repair and replacement costs are expensive compared to motorcycles that have modest features. Choosing a quality motorcycle that may lack some high-end features can help you save money on auto insurance premiums.

  • Increase Your Deductible

    Raising your deductible is an easy way to save money on motorcycle insurance. By agreeing to pay more out-of-pocket costs toward a claim, you’ll lower your monthly premiums.

  • Join an Accredited Motorcycle Association

    You should qualify for lower motorcycle insurance rates if you’re a member of a motorcycle club or association. Joining a motorcycle club or association also allows you to network with your peers and get potential recommendations regarding motorcycle insurance carriers.

  • Inquire About Potential Discounts

    Qualifying for multiple discounts is one of the easiest ways to save on motorcycle insurance. Many insurance companies offer unique discounts. Perhaps you’ve recently upgraded the safety features on your motorcycle or decided to put your motorcycle in storage for a few months. These are a few scenarios where you may qualify for a motorcycle insurance discount. If you only plan to ride your motorcycle a few times each year, ask your insurance agent if you may qualify for a discount. Many carriers offer discounts to motorcycle riders who only ride occasionally throughout the year.

  • Lower Your Motorcycle Insurance Coverage

    Liability coverage is a basic requirement in motorcycle insurance policies. Liability coverage protects you if your motorcycle injures someone or damages someone’s property. While adding comprehensive and collision coverage is recommended, it may not suit your financial interests if you’re working with a budget in mind. If your motorcycle is starting to depreciate, consider dropping collision coverage from your policy. If you aren’t riding your motorcycle as frequently anymore, dropping comprehensive coverage can help you save on motorcycle insurance.

Consult with KSD Insurance to Get the Best Motorcycle Insurance

These tips can help you save on motorcycle insurance if you’re trying to adjust your finances. However, if you need motorcycle insurance, you can contact Kevin or Merci here at Kevin S. Dougherty Insurance. We will assist you if you have any questions concerning your policy and help you get the best insurance for your needs.

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