Motorcycle Insurance 2024 – Everything I Need to Know

Do you ride a motorcycle? If so, then you will learn something new today. Honestly, bikers have a great passion that only they can understand, and it’s likely that nowhere is there so much love and affection for a single machine than in this motorcycle-man relationship. The average biker wants his machine to be extraordinary, to shine wherever it appears and to attract attention with its cool look and all accessories. However, do you know what are the most important accessories a motorcycle enthusiast can buy for his or her bike?

If you answered motorcycle insurance, congratulations, you are right. Certainly, motorcycle insurance is one of the essential things that every biker should get. The open road adventure, smell of gasoline and wind in your hair pump adrenaline into the bloodstream. It seems like nothing can go wrong, but it’s fact that accident can occur. In such situations, motorcycle insurance policy is a very important and must-have thing.

There are really good and purposeful insurance packages available today, so it’s simply unacceptable when one doesn’t want to invest money in something like that. It’s not all that simple though, there are certain things you need to know before purchasing a motorcycle insurance policy. Fortunately, we have decided to help you and to present all the things you need to pay attention to when choosing motorcycle insurance. Well, if you’re ready, let’s get started.

1. Consider your features


When we say characteristics, we mean certain items that you need to consider before applying for a motorcycle insurance policy. First of all, believe it or not, your occupation is very important. Wondering how? Well, simply, when filling out insurance application forms, one of the questions is whether you are a full-time or a part-time employee.

In addition, some experience shows that people who are somehow known to the public are likely to end up paying a higher price for an insurance package. It is also very important to emphasize that people whose job is to ride a motorcycle are likely to pay more.

The reason for this is participation in traffic, while in the first case, there is simply a better chance that a person wants to intentionally damage your bike for different reasons. Therefore, by setting a higher price for the policy, the insurance company somehow “insured” itself because there is greater likelihood of damage to your vehicle.

2. Be honest


Honesty is very important, not only in this case, but in life in general. It’s the same thing when applying for your motorcycle insurance. A very important thing that is found in all forms is the address of the residence. It only means your address, not the address where your motorcycle is located. For example, you live in one address while your motorcycle garage is in a completely different location. In such situations, explain all details to the insurance agent.

3. Motorcycle


As an insurance subject, a motorcycle is certainly the most important thing the insurer will pay attention to. And we must emphasize that not only is the motorcycle very important, but other things that are directly related to your two-wheeler. For example, the first thing that is considered and that affects the price of an insurance package is the make and the particular model.

One simple and very good example is an expensive and powerful motorcycle. Such a machine is expensive in itself, maintenance requires a certain cost, etc. Now, imagine the bike was damaged in a traffic accident. Logically, spare parts, hiring a mechanic, etc. are required, all of which cost. In the case of expensive and powerful sports motorcycles, repair is most often expensive. In such situations, you’ll pay a more expensive insurance policy. If you still have a cheaper motorcycle, the price goes down. It’s very simple.

4. Security and accessories


Did you know that you can get some discount on your motorcycle insurance policy in specific situations? For example, we believe that many motorcyclists have safety equipment such as an immobilizer, alarm or chain. In such situations, the price of your package can be reduced by as much as 2-3%. Of course, all safety equipment must be certified and approved. If you use data tagging, then the discount is up to 5%.

When it comes to accessories, you know these are things that add some value to your motorcycle. It is very important to say that modifications are also a significant factor. Modifications are considered as changes to the vehicle that may affect performance. For example, changing a spare part is a modification because it isn’t the original factory-fitted part (e.g. changing the air filter). On the other hand, chrome changes or adding a clutch cover are considered accessories.

5. Do you have a car? Several motorcycles?


Another important thing to know when applying for a motorcycle insurance policy is that if you have a car or a driver’s license, you may receive some discounts. For example, traffic accidents in which you have been involved are often taken into consideration, regardless of the type of vehicle (e.g. motorcycle, car, etc.). If you haven’t been involved in accidents, this can be very significant to have a better price for your insurance policy.

It is important to emphasize that if you own several motorcycles, you won’t have to insure each one individually, but it is possible to take a multi bike policy and thus save money.

6. Type of insurance and picking insurance company


Lastly, there are three types of insurance policies, fully comprehensive, third party fire and theft only (TPFT) and third party only (TPO). You will most likely choose an insurance policy in accordance with the budget, so each of these has a specific price.

The most expensive but also the best is fully comprehensive, because as its name implies, it is comprehensive and covers different types of accidents and causes of damage. When it comes to TPFT and TPO policies, these policies actually cover the damage that you caused on other vehicles with your motorcycle. In some cases, they may also cover your costs if you didn’t cause the accident.

When it comes to insurance companies, it is very important to choose a reliable and well-listed insurer. Currently, the best services are offered by Progressive, Nationwide, Markel, Foremost, as well as Geico.