Spring is here and warmer weather is on the way. If you’ve had your motorcycle in storage during winter, we hope you took advantage of insurance winter layaway discounts. it’s a good way to maintain essentiallimited coverage and save money on motorcycle insurance. Keep it in mind next season before you store you bike.
Now that you’re ready to ride again, contact your insurance company to reinstate full coverage. While you’ve got them on the phone, make any necessary updates to your policy such as a new address,additional people using your bike and any custom parts and new equipment you added over the winter.
You might also want to consider beefing up your policy this year. If you have a lot to lose in terms of personal wealth, look into extra motorcycle liability coverage. This will protect your assets in the event you’re involved in an accident that injures someone else or damages another person’s property. It’s relatively cheap motorcycle insurance considering what’s at risk.
Motorcycle medical payment insurance coverage is another good idea. In 2010, 14% of all traffic-related deaths involved motorcycles, and motorcyclists tend to suffer more severe bodily injuries compared to caroccupants. For a reasonable additional cost, motorcycle medical payment coverage will take care of your medical bills and those of your passenger up to the limit of your policy.
You can save on motorcycle insurance by raising your deductible; just be certain you’d be comfortable paying the additional out-of-pocket costs for repairs.
You can also save on motorcycle insurance by avoiding claims. Always lock your ignition and take the key with you. According to the Motorcycle Safety Foundation, the majority of bike thefts happen when theignition is shut off but not locked. The MSF also advises locking your bike to a secure, stationary object or to other bikes. Whenever possible, park in a lighted, security-patrolled garage or parking lot. If you’re traveling and staying at a hotel MSF suggests that you park in view of a security camera, or if that’s not available, as close to your room as possible.
The best way to save on motorcycle insurance is by shopping around. Rates will vary, even for apples-to-apples coverage, and different insurers provide different types of discounts. You can compare rates for motorcycle insurance at einsurance.com.
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