Top 10 Ways to Save on Motorcycle Insurance
8. Know Your Policy
Many riders get sold on maximum coverage when they don’t need it. Experts say riders should carry enough insurance to cover bike replacement costs, hospitalization and to avoid bankruptcy. As your bike ages and depreciates in value, and the rider ages and gains experience, many riders drop comprehensive and collision coverage. You can also save money by dropping specialized coverage for accessories, total loss and trip interruption, or medical payments if you already have health care.
Yet, cheapest is not always best. For instance, liability – which covers damages to others but not yourself – is cheaper, but is even more of a liability for motorcyclists because, as we all know, there are no fender-benders on a motorcycle.
Other ways you can save on your policy include:
* Increase your deductible. The more risk you’re willing to assume, the lower your premium will be. For example, a $1,000 deductible should significantly reduce your premium.
* Pay up front, in full. Most insurance companies impose finance charges, so paying off your premium at the beginning of the term rather than in monthly increments saves money.
Top Insurance Providers
Allstate Motorcycle InsuranceAsk how an Allstate Agent can help you get covered for when you hit the open road. Coverage options like Allstate’s exclusive Rider Protection Package offer protection for your bike's most important part: you. Plus, with Allstate we have discounts that could save you up to 50%. Call an agent for a fast, free quote today.