Classic Motorcycle Insurance

Just because you drive a vehicle that is as small as a motorcycle does not mean that you no longer have to carry insurance when you drive out into the streets. In fact, you are more at risk of getting into accidents when you are driving a motorcycle. About 5,000 deaths in the United States every year are results of motorcycle accidents. There is, of course, no need to specify that these motorcycle related deaths are most often the motorcycle riders themselves. A classic motorcycle insurance coverage would protect you from the unexpected expenses of accidental damage, whether to you or to a third party. Your standard classic motorcycle insurance coverage would include the basic liability cover, collision and comprehensive cover, and towing and roadside assistance among others. Get the right amount of classic motorcycle insurance for your needs so that you are adequately covered at all times.

The more add-ons you include in your classic motorcycle insurance coverage, the higher your premiums are – rarely anything comes for free these days. You have to make sure that you are covered for the fair market value of your motorcycle. It does not make sense to have a high coverage when you can only claim up to the actual replacement or repair costs on your motorcycle. What you should have a higher coverage on are those for your collision cover and for medical payments. These could balloon to higher amounts especially when the accident is a serious one. While this could increase your premiums, there are ways by which you could save even just a small amount on your premiums.

Bear in mind that any type of insurance is all about risks. The insurance company is taking a risk on the chances that you will not make a claim on your insurance policy during its effectivity. The amount of premium that you are charged every year is only a fraction of the actual cost that the insurance company will have to pay when you make a claim. It is when you and other insureds do not make a claim that these insurance companies make money. They, therefore, have to evaluate the risks that they are taking on when they insure you when you file your application for coverage. The kind of bike that you have, the safety features you have installed, your expertise as a motorcycle driver, your address, your credit rating, and your kind of care and usage for your car are all risk factors that are evaluated by the insurance companies. The higher your risk rating, the higher your premiums are. Keeping yourself safe as a motorcycle driver would help you reduce your premiums.