Why You Should Request Bike Insurance Quotes Before You Buy a Bike
Filed under: news on Thursday, January 26th, 2012 by nooneknows | Comments OffIf you are in the process of buying a new bike you should start requesting bike insurance quotes before you make your final decision. Bike riders know what they like. If they are looking for speed, they will buy a bike with a larger engine displacement. If they prefer a bike with luxuries, they will buy a bike that includes all of the newest technologies that have been released. If they are looking for affordability, they will often buy a bike that is on sale. Have you ever priced the cost of insurance before you purchased a vehicle? The same should be done when you buy a bike. Learn what factors can affect your premiums and make sure you budget properly for insurance.
The Engine Displacement
Many bike owners are willing to pay higher premiums for a larger engine displacement. Be aware that the engine displacement of your bike is one of the first things the insurance company will look at when they are calculating your premiums. The premiums for a 100 cc bike will save you more than half off the premiums of a bike with a 250 cc engine. While this is a lot of savings, buying a bike with a 100 cc engine is not practical for most. Consider your needs and make sure you price the cost of insurance based on engine size first.
The Value of the Bike
If you purchased a BMW you would not expect to pay the same premiums then you would if you purchased a standard Honda. When you go for luxury bikes you are going to pay a luxury premium. If you carry full coverage on your bike, the insurance company takes on the burden of repairing your bike when it is involved in an accident. If the company does not charge higher premiums for bikes that require more money to repair then they would essentially be losing money. This is another factor you should keep in mind when asking for bike insurance quotes.
How Often Will You Drive Your Bike?
When you are asked how many miles you plan on driving on an annual basis you might just blurt out a number. This number is very important and you should calculate a round-about figure in your head before you go to your insurance appointment. When you drive your vehicle less you will pay less each month. If your bike is a pleasure vehicle, make sure to make that clear to your agent so you are not charged as a commuter.
There are a number of ways that you can get discounts off of your bike insurance. If you bundle you auto and home policies, you can save a large sum of money. If you are a good driver, you receive a discount just for being responsible. Consider your driving record and how it will affect your premiums when you are buying a more risky bike. Once you ask for several different quotes you will know how much you need to budget for insurance.
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