Motorcycle Season is Upon Us- Find Out What Factors into your Rates

Motorcycle insurance companies take into account many factors when computing your monthly premium. Below are some of the most important.

1. Your driving record. Insurers believe that motorcycle riders who have had wrecks in the past will have accidents in the future. Keep in mind that they do not necessarily care whether any particular accident was your fault or not, because they still have to pay either way. So all accidents will factor into theh premium computation.

2. The type of bike you have. Newer and flashier bikes with all the add ons and engine mods will undoubtedly add to your premium. Insurers consider older bikes safer, because the profile of the riders that usually choose older bikes is that of an older, safer rider. Newer bikes are usually chosen by younger riders, who ride to go fast and take more risks. Therefore, the insurance company uses that as an excuse to raise premiums on newer bikes.

3. Your mileage. More time on the road equals more potential time for an accident, insurers say. Therefore, if your commute to and from work is a long one, be prepared for a higher premium. Miles driven for pleasure do not necessarily count, until an accident occurs. If the insurance company that you purchase your motorcycle insurance from checks the mileage on the bike and it is significantly larger than the amount you said you drove, the policy may allow them to forego paying for any damages, so be careful.

4. The safety of your home and work zip codes. If you live in a dangerous neighborhood, insurers will raise your premium. Also, if you work at a dangerous job, insurers will consider that as a higher risk.

5. The amount of safety precautions you take. If you buy an alarm system or a garage for your bike, your insurance premium will be lower, because these things decrease the risk of damage to the vehicle.

6. Your other vehicles. If you have a car that you use for every day driving, you can expect a break on your motorcycle insurance. Insurers will note that you have a safer vehicle for use.


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