Senin, 11 Januari 2010
Factors Affecting you Motorcycle Insurance Premium
Though it isn’t officially required in several states, many motorists prefer to get a motorcycle insurance. It is a good and extremely significant coverage in case the inevitable happens. After all, simply being careful while driving your motorcycle and wearing safety gears isn’t the only insurance you need.
Most of us are aware that motorcycles have higher rate of accidents per unit distance compared to cars. This is because of the exposed driver and the reality that most vehicle drivers are unable to see these smaller driving machines in the traffic line.
If you are transferring to a new state or you have just purchased a motorcycle, you should check first the insurance law of your state before whooshing down the road with your bike. This way, you can be sure that you are driving or riding legally. In case your state requires you to have liability coverage, then there are lots of motorcycle insurance options available for you.
To find the best deals on motorcycle insurance, it is always advisable to inquire first before setting your hands in a particular policy. There are key factors that affect your motorcycle insurance premium. Among them are:
1.)Engine displacement size (in cubic centimeter) of your motorcycle. Most of the times, you’ll have higher motorcycle insurance premium if your bike employ a larger displacement engine. This type of motorcycles is generally more expensive and they boast superior performance.
2.)Make or brand of the Motorcycle. It isn’t such a big factor, but it is usually considered in calculating the motorcycle insurance premium. A motorcycle brand with few models usually cost higher than a usual brand.
3.)The age of the driver or the owner. Older drivers normally benefit from cheaper motorcycle insurance rates than younger drivers using the same type of motorcycle.
4.)Type of bike. The type of bike you own and you are planning to insure also affect the rate of your motorcycle insurance. Sport bikes are normally expensive and thus require higher premium.
5.)Is your motorcycle garaged? If your bike will be parked in a garage if you’re not using it, your premium won’t be as high as those who are leaving their motorcycle parked out along the pavement. In the latter case, the motorcycle will be prone to accidents and theft and consequently, it will require higher insurance rate.
6.)Driving Record. Your driving record as well as your experience affects your motorcycle insurance payment. If your driving record has been messed up by too many tickets and accidents, then you should expect to pay for higher rates.
7.)Number of miles driven every week. It is an important consideration in calculating your motorcycle insurance payment, since the mileage you are likely to put on your motorcycle will push your premium up or pull it down. So you have to decide first if your bike will serve as your service in your daily commute or it is intended only for leisure. If you will use your motorcycle in your everyday activities, then expect to pay higher premium.
8.)Locality. This factor also matter in the computation of the cost of your motorcycle insurance. If you are residing in a big city, expect slightly higher rates compared to those who are living in a rural area but are insuring the same type of bike.
To get a full motorcycle insurance coverage, make sure that your insurance covers liability coverage, no-fault coverage, passenger coverage, collision coverage, uninsured coverage, collision coverage and service coverage.