Subscribe Feed (RSS)You came up with the bright idea of trading in your car for a motorcycle. It’s a smart move right? Save on gas, repairs, upkeep, and emissions, right? While you will save on all those aspects of owning a motor vehicle, you may however not save on insurance. Motorcycle insurance is very expensive unfortunately.
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 insurance for motorcycles is relatively cheap. It becomes expensive when fire and theft are added into compulsory policies. You need theft coverage however insurance companies hate it. Why? Well, stealing motorcycle parts or whole motorcycles is much easier than stealing a vehicle. It’s cause for concern and you really need the added coverage.
Also, insurance companies receive a lot of claims dealing with horrific injuries to the motorcycle driver and or passengers when they are exposed to an accident. Motorcyclists are not protected well, especially when you take into fact that they are traveling anywhere from 30-100 mph’s, are not protected by the vehicle, do not wear seatbelts, and are totally exposed to other traffic. Because of this, you can expect high premiums.
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.
While the driver’s age and riding experience is import, the insurance company cares more about past speeding and driving offenses as well as number of accidents the driver was involved in. If the number is low, the premium will be cheaper. Car and motorcycle insurance really pays off for drivers who are careful on the road.
If the driver uses the motorcycle only as a secondary form of transportation, than expect an even lower premium. If you only plan to take the bike out on the weekends or on holidays, inform the insurance company. Insurance companies understand your desire for a motor bike and are willing to work with you to reach a satisfactory premium.
Graham McKenzie is the content Syndication Manager at insurance123.co.zaSouth Africa’s leading Motorcycle Insurance information portal
Tags: Bike Insurance, bikes, finance, insurance, Motorcycle, motorcycle insurance
