Factors That Determine Your Motorcycle Insurance Rates
If you have purchased car insurance in the past, you might be forgiven for thinking that purchasing motorcycle insurance is exactly the same, and that your rates will vary according to the same factors. But the truth is, motorcycle insurance works in a very different way from standard car insurance. In addition, the factors that influence how high -- or low -- your premiums will be are different for motorcycles.
In this article we will take a look at some of the factors that will influence your motorcycle insurance rates, and provide tips on how to get the best possible quote for your insurance.
1. Your Age -- Just like car insurance, motorcycle insurance is also affected by the age of the insured driver. The highest insurance rates will usually go to female drivers younger than 21 years old, and male drivers younger than 25. These limits vary somewhat between different states, so you might need to check your local insurance agent to be certain. If you are within this "high risk" age zone, you might consider waiting to purchase your motorcycle in a few years. Otherwise, you can expect high rates simply because of your age. Is this fair? Of course not; but that's simply the way it is.
2. Your Driving Record -- The insurance company will be sure to check your driving record before issuing a quote, as this is one of the most important factors in determining your insurance rates. If you've had quite a few tickets on the past, or been involved in accidents where insurance claims were filed, you're probably going to see much higher insurance premiums.
3. Are You Experienced? -- Your experience riding a motorcycle is often taken into consideration by insurance agencies when determining your premium rates. If you have just purchased your first motorcycle, odds are you will have to pay more to be insured. Comparing rates between different companies can often produce significant price differences though, so even if you are a first-time motorcycle buyer, be sure to shop around.
4. Your Location -- Believe it or not, where you live is one of the biggest factors in determining the insurance rates for motorcycle owners. Motorcyclists who live in rural areas, for example, often have significantly lower insurance premiums than those who live in major cities. As a general rule, the more traffic there is in your area, the higher the accident rate will be, and thus, the higher your insurance premiums will tend to be. It is also true that certain states and even counties tend to have much higher insurance rates than others. But whatever you do, resist the temptation to lie on your insurance forms and claim to live in another area. This is called insurance fraud, and penalties for this crime can be serious, including jail time. Just don't do it!
When it comes to shopping around for motorcycle insurance, the best way to find the lowest rates is usually by searching online. Online insurance web sites allow you to get an instant quote, while comparing coverage options between different companies. This is a perfect way to ensure you don't end up overpaying for your motorcycle insurance.
Craig Thornburrow is an acknowledged expert in his field. You can get more free advice on motorcycle insurance and affordable motorcycle insurance at http://www.motorcyclefinancegroup.com
Source: http://ezinearticles.com/
Added: March 20, 2008
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