As a motorcycle owner, choosing the right insurance policy for your motorcycle is very important. It is not unusual to make the mistake of overlooking insurance matters as long as your prized ride remains road-worthy and without damage. However, re-evaluating or updating your motorcycle insurance can offer added benefits to ensure that you continually enjoy the best value of your policy now and in the long term.
Insurance companies offer motorcycle insurance as part of their services. They provide various options, ranging from basic insurance for the road to complete protection for your custom motorcycle. Motorcycle insurance costs may differ depending on the policy you desire and the service quality of the insurance provider.
After choosing a suitable motorcycle insurance policy, here are a few essential tips that you can follow for re-evaluating your motorcycle insurance.
#1 Look for Add-on Options
Motorcycle insurance companies usually offer an array of add-on options to increase your insurance coverage. Your present needs will determine which add-on options are necessary and which you need to drop. Here are a few add-ons you might benefit from:
- Roadside assistance: This offers many benefits, such as getting your motorcycle fixed on the spot or towing it if necessary. It also provides cab service to either your destination or back to your home.
- Consumables coverage: Consumable objects like oil, nuts, bolts, or screws are sometimes overlooked in a standard policy. If any of these gets damaged due to an accident, this add-on covers the expenses.
- Accessory coverage: Accessorizing is what makes your motorcycle distinctly yours. This add-on ensures your motorcycle accessories are covered in case of theft or damage due to collisions.
Other add-ons can include medical payments, trip interruption coverage, total loss coverage, and rental vehicle coverage.
#2 Enroll in a Motorcycle Safety Course
Motorcycle accidents could result in injuries that could take a long time to recover from, and in extreme cases, may result in loss of life. You can learn something from a motorcycle safety course that can save you from paying hefty medical bills and damage to your motorcycle.
Whether you’re a seasoned motorcyclist or novice, taking a motorcycle safety course reduces the risk of hurting yourself or others while riding. In most states, a motorcycle safety course is now a prerequisite to obtaining a motorcycle license.
#3 Comply with the Local Laws
It is essential to be aware of the laws related to motorcycle riding in the state you live. For example, some locations have laws restricting the riding of motorcycles at night and during extreme weather conditions.
Note that motorcycle insurance laws also differ from place to place. You may need to change your insurance policy to accommodate the legal demands of your state. If your location requires no motorcycle insurance, it is advisable that you still keep an insurance policy to cover unforeseen circumstances.
#4 Bundle Auto and Motorcycle Insurance
You can save insurance costs by getting both your auto and motorcycle insurance from the same provider. Insurance companies usually offer multi-policy discounts.
Make sure to choose insurance policies that suit each vehicle. For instance, your automobile may serve as your primary means of transport, while your motorcycle may be used for recreation or sports.
#5 Make Changes to Your Deductible
Increasing your deductible can help you save money as you could get a discount on your insurance cost. If you can afford to take care of minor damages to your motorcycle independent of your motorcycle insurance, then you should consider increasing your deductible. This is also a good idea if you are a motorcycle collector.
#6 Speak to an Insurance Professional
Re-evaluating your motorcycle insurance may save you money and increase your benefits, but it can also cost you more. You should seek advice from an insurance professional before making changes to your motorcycle insurance policies.
These are a few tips that you can follow while re-evaluating your motorcycle insurance. Ensure that you have secure motorcycle insurance to protect your vehicle from accidents and damage. Talk to the team at Jack Stone Insurance Agency to get started on reliable coverage.