A car is all very good and nice. But a motorcycle is always a cheaper and more entertaining option. But because you are spending quite a lot of money on it, always make sure that your motorcycle is insured. Ensure that you have the liability insurance - which is a legal compulsion to help others if an accident occurs. But, don't forget to protect your own self by insuring the bike against robbery, damage and accidents. Here are some methods you might adopt to find the right insurance for your bike:-
• Look around
Never go along with the very first scheme that you might come across. There is sure to be a more profitable scheme somewhere else. Make sure that you put in a lot of research, because at the end of the day, it is you who will reap the benefits of a lower rate of insurance. Surfing the net is a good way to collect information. Contact the provider to sort out the details of any scheme you might find interesting. But remember to get everything in black and white. A verbal assurance over the phone does not mean anything really.
• Motorcycle Insurance Discounts
The longer and safer you drive, the more are your chances of obtaining a lower rate of premium. Sometimes, you might also be offered lower rate schemes if you take up defensive rising or training programs. Some other methods of getting a discount on the premium are:-
1. Supplementing your existing insurance policies (like householder's policy) with the motorcycle insurance policy.
2. When you purchase a bike, always consider the safety of the bike before you get into the fancy looks department. Almost all major insurance companies cover only the costs of basic factory components of a bike.
3. A popular brand helps you in getting a lower premium. That is because spare parts of a bike from a well-known company are readily available in the market.
4. Take care of your bike's safety against robbery. Use good locks and always keep it in a safe place or garage at nights.
5. In the northern parts of the country there exist an idea called the 'lay up'. This means that during winter some parts of the insurance policy are not considered.
6. Being a member of a state or national motorcycle organizations gives you benefits as well. It ensures that you get lower premium rates almost all the time.
• Your Bike's Value
The main thing to consider is to not splurge on your bike's insurance. Remember that even expensive insurance policies will not give you more than your bike's worth in case of any calamity. Also, when you calculate and figure out how much you have to pay at the end of the day, do not forget to take into account the depreciation of money. Remember to add any extra improvisations you might have done on your bike. Take pictures so that, if need arises, you have a concrete proof of the condition of your bike.
• Safety
Last but not the least, please drive safely. An unblemished driving record will not only protect you from bodily harm, it might also ensure a dip in your rates of insurance. The ideal situation would be to have insurance but to not have to use it. So set your mind free of worries with the right kind of insurance and ride safe to enjoy many wonderful miles on your prized motorcycle.
