Part of buying a motorcycle insurance policy is getting a great rate, but many riders are unaware of the factors that determine their insurance premiums.
Motorcycle Insurance Factors
There are a number of factors that go into a standard motorcycle insurance quote, including the age and experience of the rider, the type of motorcycle being insured, and even the rider’s address. Insurance companies try to accurately assess the possibility of an insurance claim, so anything that could realistically change a rider’s safety or the chances of motorcycle theft will be considered.
This means that if a rider’s address is in a high crime area, for instance, the cost of comprehensive coverage will be high, since the chances of a large comprehensive claim due to motorcycle theft would also be relatively high. Inexperienced riders may pay more for their personal injury protection and liability coverages. Riders who have expensive bikes may pay more for comprehensive and collision coverage, as claims in this area would be relatively large. A history of claims and traffic tickets will also raise rates.
The law in the rider’s state can also make a difference. Some states follow a no fault system of insurance, in which motorcyclists pay for their own damages in an accident, regardless of who caused the accident. These states tend to have lower than average motorcycle insurance rates because there are fewer court cases and fewer legal fees for insurance providers. States also have slightly different insurance requirements, which can certainly affect the cost of coverage.
The coverage limits and deductibles of a motorcycle insurance policy are also big factors in the final price of a policy. Riders should try to pick policies that provide sufficient coverage with deductibles that would be affordable in an accident. Excessive coverage can mean higher premiums.
Insurance companies use all of these factors to decide quotes, and by understanding their insurance risks, riders can keep their rates at an affordable level while ensuring a useful and protective motorcycle insurance policy.
Maryland State Requirements
Maryland has special liability requirements for motorcycle insurance coverage. The minimum liability that motorcycle drivers must have is, per person bodily injury for $30,000, two or more people bodily injury for $60,000 and property damage for $15,000. Any type of motorcycle that is driven on the roadways must carry insurance in Maryland. Roadway Insurance will find the perfect motorcycle insurance for your needs whether you are driving a cruiser, chopper, custom motorcycle or street bike.
Discounts are given to those who insure more then one vehicle, keep a clean driving record and pay their premiums on time. There are also discounts for those with safe driving records, completion of the safety course for motorcycle drivers, group member discounts and for motorcycles that are kept in a garage. Your coverage will protect not only you but your passenger, and other people’s property that might get damaged in an accident.
Choosing the right policy can be made easier with the helpful suggestions from the Roadway agent. The agent will know how to select a policy to meet your budget and you needs. With a short list of questions about where you live, work, driving record a policy can be found quickly. Over the years, you and your agent can modify your policy as your life changes.
Some accidents can not be avoided. Wildlife runs into the roadway, mechanical problems, negligent car drivers and hazards in the road all may cause an accident. With full coverage on your motorcycle you will have the peace of mind that your bike, you and anyone or anything else will be covered. No one likes to be in an accident, but if you are, you will feel better knowing you carry the proper insurance.
Comprehension and collision coverage can also cover damage to your motorcycle. Some custom made motorcycles have very expensive parts to replace if damaged in an accident. Roadway Insurance can help anyone with the proper insurance. Even if you have had your insurance cancelled or you have a bad record on file, Roadway of Maryland has competitive rates that can fill your insurance needs.
For a low motorcycle insurance quote, contact your nearest Roadway Auto location to start saving on monthly motorcycle insurance premiums.