If you're like a lot of bikers, you've been waiting for the day you can ride your dream machine again.
Well, that day will probably come before you know it, so now is the time to make sure your insurance policy is as ready to go as you and your bike are. Your motorcycle is a big investment, and you owe it to yourself to make sure you have the right insurance. So here are some tips from experts to help you make sure your motorcycle insurance is as strong as your love for the road.
First, make sure that your insurance is still good. It may seem obvious, but you should start by checking the expiration date of your insurance policy to make sure it is still valid. Be aware that some insurance companies put some coverages on hold during the winter months. Check with your insurance company to see if you have limited coverage of any kind.
Change your rules. Tell your insurance company about any changes, like new riders or a new place to store your car. With just a quick call to your independent agent or insurance company, you can make sure that your coverage fits your needs right now.
Make sure that the insurance covers custom parts and equipment. Your motorcycle's value usually goes up when you add things like chrome plating, a new paint job, saddlebags, or unique wheels. If you have recently added any custom parts or equipment, you will want to make sure they are also covered.
Think about dropping coverage you don't really need. If you have an older bike, you might want to find out how much it's worth so you don't pay for insurance that isn't worth it. When the collision premium is equal to 10% of the bike's market value, it's usually a good idea to think about dropping collision coverage. Know that if you do this, you won't be covered for damage to your bike if it falls over or hits something else.
Try to find deals. You should also check with your insurance company to see if there are any discounts that you could get. Remember that prices can vary from one insurance company to the next, so it's a good idea to shop around. Another way to save money is to raise your deductibles if you buy comprehensive and collision coverage. This will lower the cost of your physical damage coverage.
Choose an insurance company that knows how to cover motorcycles. For example, Drive Motorcycle Insurance is written by Progressive, which is America's number one motorcycle insurance company. It is sold all over the country by independent insurance agents and brokers. Drive agents and brokers know what you need and can give you coverage that is made just for you and your bike.
