Having car insurance at your disposal is as essential as having your license all the time with you – regardless of the vehicle type you are driving. Motorcycles are pretty common nowadays, and you can almost always see it on the street. With motorcycles being cheaper than cars and being easier-to-bring because of its size, it has become very popular among motorists all over the world.
Like sedans, wagons, and vans, you can also insure your motorcycle. Your bike can always acquire a policy. A policy acquired is armor for your motorcycle. It will be very advantageous to have help readily available at bay with whatever accident that may occur.
Presented below are two basic categories of factors that insurance providers would give you. The factors are categorized into either intrinsic or extrinsic. These two categories will be discussed in the next paragraphs.
These are two basic intrinsic factors that affect your premium:
An important indicator deals with the physical aspect of your motorcycle. This pertains to the appearance and condition of your bike. Motorcycles that are brand new and are at excellent working conditions get higher rates compared to the used ones. The manufacturer, type of engine, and motorcycle type also determine the rate you will have to pay. Rare motorcycle models get higher rates as well.
Experts advise motorists who ride motorcycles to acquire comprehensive insurance. This is because of the higher risk of motorcycles to accidents. Though comprehensive insurance is a little more expensive, its coverage makes it worth.
While these factors are the extrinsic ones:
The driver’s driving record or driving history plays a key role in scaling the premium that will be put to your charge. With a cleaner record, you get lower premium. On the other hand, if you’re driving record is stained by accidents, then you get higher rates.
You can still lower your premium through living in a more peaceful community. The address is one thing the company checks. When the town you live in is prone to riots and such, then you are charged higher. You can also lower your mileage to lower what you pay. Remember that the lesser time you use your bike, then the more will the companies lower your premium. This is because they believe that you are not a risky driver.
Now that you have learned the factors you have to consider, you might want to compare companies’ different rates so you will have an array of viable options to choose from.