Motorcycle Insurance Sees Increase In Policies Sold
May 21st, 08As gas prices continue to sky rocket with very little relief foreseeable, many are turning to alternative means of transportation. Hybrid cars and public transportation are becoming popular. Motorcycles are even becoming a substitute to that sedan and town car.
Motorcycles generally cost less at the pump and for short distances is a great replacement for traditional vehicles. No longer for the Hell’s Angels orthrill seeking young adults; the motorcycle is receiving attention from business men and women as a viable means of transportation to and from work. With this new interest in hogs it is important that new owners understand that the insurance policies needed for bikes do differ from that of regular car insurance.
The average rate of a motorcycle policy will vary. “From one bike to another, they can be five to ten times different” Ben Sheridan states. Sheridan, a general manager for Progressive Casualty Insurance Co has years of experience when it comes to insuring bikers and adds that “Rates really vary a lot”.
This is really of no surprise given the different types of motorcycles. From the smaller, faster racing bikes to the bikes more suitable for commuting, motorcycles really do come in all shapes, sizes, and colors. The type of motorcycle you own plays a large part in the cost of coverage so keep this in mind before you make any purchases.
The type of coverage needed also really depends on the bike and the use you intend it for. Many states will have a required amount of coverage which is mandatory before taking the bike out onto the road. Other coverage can include one for guest riders. Other vehicle’s insurance policies cover all passengers but the motorcyclist is required to purchase a secondary policy if they ever wish to have someone ride along.
Luckily, many motorcycle insurance agencies offer special discounts for riders who belong to any number of safety organizations. You can request a list of these organizations from the insurance office. The reason for this is that by belonging to these groups, especially to ones that actively promote safety you will be less of a risk.
Motorcycles can be a great way to save on gas but they do require special preparation and insurance. Many will choose to go through specialized companies that handle motorcycle insurance first and foremost since other companies may be ill informed and ill prepared to deal with the special demands of a motorcycle.
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