For most drivers, motorcycle insurance usually costs less than a standard auto insurance policy when looking at liability coverage by itself. The price can vary depending on factors such as driving history, how much the motorcycle is worth, and even the type of motorcycle. Insurance Shopper VA has compiled a few ways to help you save on a motorcycle policy, which should make it cheaper to keep your bike on the road.
1. Combine Multiple Policies
Motorcycle insurance policies should cost less when you use the same insurer for all of your insurance needs. Combining a homeowners/renters policy, auto policy, and motorcycle policy can result in lower prices on all of them.
2. Stay Out of Accidents
The longer you go without causing an accident, the lower your insurance premiums will be, especially if you have been accident-free for several years. Accidents where you are not found at-fault generally do not count against you from an insurance standpoint, but no-fault accidents can cause your rates to go up.
3. Raise Your Deductible
If you are a safe driver, a higher deductible will usually mean a lower monthly payment, even if you raise it just a few hundred dollars. With motorcycles, even a minor accident can cause thousands of dollars worth of damage, making it likely your claim will far exceed your deductible anyway.
4. Don’t Use Your Motorcycle During the Winter
This is especially useful if your motorcycle is used for leisure as opposed to your primary means of conveyance. Riding in temperatures below freezing can be extremely uncomfortable and if an accident occurred on the ice there is a high probability of an injury. Canceling your insurance policy for the months you would not be riding anyway can save you a few dollars during the winter.