Insuring your motorcycle will give you peace of mind and help to enjoy your bike ride to the fullest. Every bike owner wants to know what all coverage is required for his vehicle and how he can save money on overall insurance costs. There are several questions that you need to be clear about. Following are some of the commonly asked queries about motorcycle insurance:
How much cost do I need to incur for my policy?
While some states require you to get a certain type of coverage for your bike, others may not make it mandatory. Broadly, you require two major types of coverage in your motorcycle insurance policy – Uninsured Motorist Coverage and Bodily Injury Liability. The rates for both these types need to be at least $100,000 per person/$300,000 per occurrence.
How is my motorcycle insurance rate determined?
Some of the factors that establish your insurance rate are:
- Type of motorcycle you own
- The area where you reside
- Your driving history
- Age
- The types of coverage mandatory for your bike under state law
- Your financial history
Is my optional equipment covered?
If you have got a customized seat or a special part in your motorcycle after buying from the manufacturer, make sure to ask your insurer if all the optional equipment are covered in the policy. There are many policy providers who give comprehensive coverage but it may differ from agent to agent.
Should I buy collision coverage if I possess an old bike?
This will entirely depend on your situation. If you think your bike is less in worth than the amount of money you are paying for collision coverage, it is advisable to limit or drop collision coverage. However, if you are still repaying your motorcycle loan, the bank will require you to protect its investment with collision and comprehensive coverages. In case you completely let go off this coverage, you will have to incur the entire cost of repair or replacement. Therefore, you need to find a middle path and balance both the factors.
Can I avail any discounts?
There are some insurance agencies that offer multi-policy discounts. So, apart from your bike you can also buy another policy from the same insurance provider. Confirm from your respective agency as to what all multi-policy discounts they offer their customers. As far as motorcycle-specific discounts are concerned, you can get concession if you have undertaken safety courses, have an airbag or anti-lock brakes etc.
What are the available payment plans?
Most of the insurance agencies will give you the flexibility of paying your premium in full or installments. It is wise to confirm from your provider what all options they have in store for you.
If you are looking for affordable motorcycle insurance in Killeen, TX, feel free to contact Shawn Camp Insurance Agency, Inc. at (254) 526 – 0535.
