Motorcycle Insurance, What You May Not Know
3:01 AM
You are looking to save money. You have cut costs in several different areas of your life; however one decision sticks out like a sore thumb. Do you sell the truck and buy a motorcycle? The motorcycle is much cheaper right? It's a great way to save money? While true, motorcycle insurance is one thing you can expect not to drop in cost.
Motorcycle insurance covers the owner/driver against the typical events that will occur with a bike, accidents and theft. Both are held in different regards. Insurance considers motorcycle's "solo event," because the driver is usually by there self and only poses danger to there self.
Compulsory insure for motorcycles is usually low, however fire and theft are not taken into account. Motor bikes are easy to steal and insurance companies are timid when covering such a hot commodity. Expect high premiums if you wish to cover theft and fire.
Accidents are the number one claim for motorcycles. Unfortunately, accidents involving motor bikes usually pose serious or severe injuries and even death. The driver is exposed to other vehicles because he or she does not wear a seat belt. This is another reason why insurance companies charge a higher premium.
Insurance companies cannot kill their integrity by jumping to conclusions when it comes to calculating costs and risks of motorcycles. Accidents and theft do happen, but the majority of bike riders are safe and smart on the road. The insurance company will also drop the rate if the driver is older, very experienced on a bike, and rides a bike that is not overly powerful.
An insurance company will also break down the number of speeding tickets and accidents the driver has been involved in the past. Like car insurance, motorcycle insurance weighs the premium heavily on the number of tickets and accidents. If the driver has a past record of safety, they will certainly award them.
However, the most important factor when calculating a premium is the amount of use the bike will receive. If the bike is used everyday, a premium will remain high. But if the bike is designed more for a hobby, something to take out on the weekend or on holidays, then expect to receive a much lower premium.
Motorcycle insurance covers the owner/driver against the typical events that will occur with a bike, accidents and theft. Both are held in different regards. Insurance considers motorcycle's "solo event," because the driver is usually by there self and only poses danger to there self.
Compulsory insure for motorcycles is usually low, however fire and theft are not taken into account. Motor bikes are easy to steal and insurance companies are timid when covering such a hot commodity. Expect high premiums if you wish to cover theft and fire.
Accidents are the number one claim for motorcycles. Unfortunately, accidents involving motor bikes usually pose serious or severe injuries and even death. The driver is exposed to other vehicles because he or she does not wear a seat belt. This is another reason why insurance companies charge a higher premium.
Insurance companies cannot kill their integrity by jumping to conclusions when it comes to calculating costs and risks of motorcycles. Accidents and theft do happen, but the majority of bike riders are safe and smart on the road. The insurance company will also drop the rate if the driver is older, very experienced on a bike, and rides a bike that is not overly powerful.
An insurance company will also break down the number of speeding tickets and accidents the driver has been involved in the past. Like car insurance, motorcycle insurance weighs the premium heavily on the number of tickets and accidents. If the driver has a past record of safety, they will certainly award them.
However, the most important factor when calculating a premium is the amount of use the bike will receive. If the bike is used everyday, a premium will remain high. But if the bike is designed more for a hobby, something to take out on the weekend or on holidays, then expect to receive a much lower premium.
About the Author:
Graham McKenzie is the content Syndication Manager at insurance123.co.zaSouth Africa's leading Motorcycle Insurance information portal
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