Motorcycle Insurance Is A Risky Proposition Say Insurance Companies
3:47 AM
Many companies fear to lose a significant amount of money to the insurance policies that they have offered to their customers. They fear about the frequent accidents of the bikes and having to pay the claimed amount. As a result of this fear, most companies make the customers pay a high amount of premiums. This article discusses the reasons for this fear and how you could manage to find a low premium policy for your bike.
Many things go through the mind of the insurance company before it decides a premium amount for you. The factors considered are your age, occupation, bike model, and so on. What ever the calculations and considerations are, the premiums declared are high in most cases.
The matter of the fact is that bikers meet more accidents in a year than any car drivers. There are huge numbers of accidents reported every single day. One of the primary reasons for these accidents is that most of the bikers are very young in age. Inexperience in riding serves as a primary reason for them to commit accidents. They may have passed their riding tests and attained a valid license; they are still quite inexperienced with their riding. Accidents caused as a result of inexperience leads to the insurance companies spending for the damages.
Most youngsters are known to ride at pretty high speeds. They just love giving the accelerator a rip. As obvious, high speeds lead to more accidents. Insurance companies too understand this dynamic and do not trust the young bikers to ride safe.
Taking over the other vehicles on the road is what most bikers like doing. With bikes, it is more easy and tempting to over take than with any of the four wheelers. More attempts to over take lead to more accidents.
Once the accident has occurred, bikes get damaged a big time. A four wheeler has a front guard and a strong bumper to protect itself against heavy damages. The same is not the case with bikes that hardly have any protection on the front or on the rear. A pair of leg guards is only good enough to protect the biker's legs, and not the bike. Bikes therefore end up damaging some of their expensive parts upon an accident.
Understandably, the insurance companies stock the money for these frequently occurring accidents. You are accordingly made to pay high premiums every month. You, as a customer must look for the best policy possible. The only way you can find a good policy is by collecting information. You will need to research the market and compare prices. The good news is that you need not manually do the research. Rather you can make use of the internet and visit some of the very informative websites that provide optimum information about the insurance policies. They have ready made comparisons on display and you just need to make up your mind for one policy. You need to be careful with the policy you choose. In other words, you must not choose a policy that only has a low monthly premium but does not cover your bike well or the company is not reliable. Be smart in evaluating the worth of the policy.
Many things go through the mind of the insurance company before it decides a premium amount for you. The factors considered are your age, occupation, bike model, and so on. What ever the calculations and considerations are, the premiums declared are high in most cases.
The matter of the fact is that bikers meet more accidents in a year than any car drivers. There are huge numbers of accidents reported every single day. One of the primary reasons for these accidents is that most of the bikers are very young in age. Inexperience in riding serves as a primary reason for them to commit accidents. They may have passed their riding tests and attained a valid license; they are still quite inexperienced with their riding. Accidents caused as a result of inexperience leads to the insurance companies spending for the damages.
Most youngsters are known to ride at pretty high speeds. They just love giving the accelerator a rip. As obvious, high speeds lead to more accidents. Insurance companies too understand this dynamic and do not trust the young bikers to ride safe.
Taking over the other vehicles on the road is what most bikers like doing. With bikes, it is more easy and tempting to over take than with any of the four wheelers. More attempts to over take lead to more accidents.
Once the accident has occurred, bikes get damaged a big time. A four wheeler has a front guard and a strong bumper to protect itself against heavy damages. The same is not the case with bikes that hardly have any protection on the front or on the rear. A pair of leg guards is only good enough to protect the biker's legs, and not the bike. Bikes therefore end up damaging some of their expensive parts upon an accident.
Understandably, the insurance companies stock the money for these frequently occurring accidents. You are accordingly made to pay high premiums every month. You, as a customer must look for the best policy possible. The only way you can find a good policy is by collecting information. You will need to research the market and compare prices. The good news is that you need not manually do the research. Rather you can make use of the internet and visit some of the very informative websites that provide optimum information about the insurance policies. They have ready made comparisons on display and you just need to make up your mind for one policy. You need to be careful with the policy you choose. In other words, you must not choose a policy that only has a low monthly premium but does not cover your bike well or the company is not reliable. Be smart in evaluating the worth of the policy.
About the Author:
Susan Reynolds is a content coordinator for a leading South African Insurance Provider that specialises in Motorcycle Insurance Policies.
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