How to Choose a Motorbike Insurance
If you have a motorbike, it is important that you buy a cheap motorbike insurance to secure it against various kinds of risks including accident risk. Motorbike riders are highly vulnerable to accidents more than car drivers.
On the highways, they are more disadvantaged than other motorists using the highways. The same thing is applicable to local roads and streets. Even for off-road riding, they are also not favoured.
The accidents can be fatal and may lead to serious damages on the motorbike and even the rider. Besides, it's illegal to ride in many countries without securing it with a proper and cheap insurance.
The above highlights the need for cheap motorbike insurance. However, just like car insurance, cheap motorbike insurance is available in a number of options.
It is therefore important that you check and choose the right and cheap insurance. Here are some advice and tips to apply in order to choose the right policy.
Where to buy the motorbike insurance?
You can buy motorbike cover from two basic sources which include motorcycle-only insurer or auto insurance company. The former is an coverage provider that specializes in cheap motorbike insurance. The latter is a motorbike company that also sells and offers motorcycle insurance to motorcyclists that buy their bikes from them.
There are good and bad sides of each options. The advantage of buying from a motorcycle-only coverage company is that you will have more option of various types of motorbike insurance to choose from. In case you have a special needs, the company can provide a package that will suit your needs.
However, if you are buying from a motorbike company that offers cheap insurance, you may not have multiple policy options to choose from but you may get discount on your motorbike purchase. Most motorbike companies that offer insurance also give discount to consumers that buy both their motorbikes and coverage from them.
What type of motorcycle insurance do you need?
As it has been mentioned above, there are different types of cheap insurance for motorbikes that you can purchase which include motorbike accident premium, coverage for safety apparel like jackets, helmets and gloves, specialized motorbike towing or roadside assistance programs, after-market insurance and others. There are also third part fire and theft, third party only and fully comprehensive cheap motorcycle insurance.
Having first determined where to buy your coverage from, it's important that you also determine the type of cheap motorbike insurance that will suit your needs.
This may depend largely on the type of driving you are involved in. Each of this type of cheap motorcycle insurance has its own pros and cons. So, you have to take time to study each type and know which option will serve your riding needs better.
Before you determine which motorcycle insurance is most suitable for you, it's important that you consider not just the type of ride your are engaging in but also the type of motorbike you have.
If you get to the road nowadays, you will find different kinds of motorbikes. Some are more expensive than others and some are specifically meant for one type of ride like off-road riding. Other types of bikes include motorbike for women, classic motorcycles, motorbikes for inexperience riders, off-road motorbikes and others.
The policy requirements for each of these bikes are not the same owing to the fact that each insurance type is exposed to different kinds of risks. For example, young and inexperienced riders are more vulnerable to accidents and thus their chances of making claims are very high. Thus, their insurance is always costly. Women bike insurance on the other hand is much cheaper. It is less expensive because women are naturally more careful drivers because they tend to drive slowly and less recklessly than men.
You may also need a special bike insurance for motorcycle shipping.
Choosing the bike insurer
Now that you have chosen the right type of insurance for your motorbike, there are other factors that you should take into consideration when choosing your insurer. Don't just choose any cheap insurer you see because they do not offer the same level of services. Here are some points to consider in order to choose the best and cheap motorbike insurance.
Experience, reputation and reliability
There are numerous insurers nowadays but they are not of the same experience level and reliability. New companies are coming up on regularly basis.
However, it's better to buy from a company that has established reputation over the years in the industry than a company that is just beginning.
This does not mean that new insurance companies are not reliable. If you get a better terms from a new firm, you should consider buying from them. However, you have to ensure that the company is registered or licensed by an appropriate authority.
Check the financial stability of best and cheapest motorcycle insurance companies
It's good and safer to buy your motorbike insurance from a company that is financially stable. Such a company is less likely to go bankrupt or to foreclose. To be able to determine the financial stability of the company you would like to buy from, you have to consult the state insurance department in your locality in order to find out what the credit rating of the insurer is. If you are shipping to USA there are also some international movers that offer motorcycle in transit insurance.
Multiple types of bike insurance coverage
You should consider the broadness of motorbike insurance offered by the insurer. It is better to buy from an insurer that offers numerous policies types for motorbikes than buying from an insurer than offers just one motorbike insurance type. Buying from an insurer that has broad cover, for example motorbikes for kids or will help you to find the options that are available to you rather than limiting yourself to just one option.
Fairness and ease of handling motorbike insurance claims
Before you choose any insurer for your motorbike, you have to take time to read the reviews of the insurer you want to buy from. Find out what previous policyholders have to say about how the insurer handles claim. If it's difficult to make claims or if the insurer is not fair when handling claims, you should consider buying elsewhere. Apart from reading reviews, you can find this out by asking people, colleagues, family members and friends who have used the services of the insurer before what their experiences are with claims. You can also check the complaints record of the company from Better Business Bureau. Another means of getting authentic information about the insurer's ways of handling claims is to join an online motorcycle insurance forum. You will get helpful information from the forum members.
Consider the customer service
It's important for your insurer to have an efficient customer service. The support unit of the company is your first point of contact in case you have any problem. If they delay, it means you will have problems getting at them or getting a reply from them when you have any issue. You can test the efficiency of the support unit by yourself. Just send an email to the support to see how fast they will reply. Alternatively, you can call the support contact number to see how quick and polite they are in receiving calls from their clients.
Check the bike premium and interest rate you have to pay
Shop around in order to get the best premium and interest rate. There are many insurers out there ready to offer you different types of motorbikes insurance at a reduced rate. So, if you shop around, you will be able to have your motorbike covered at a reduced rate.
Take time to read the terms and conditions of the insurer
You should always bear in mind that motorcycle insurance policy is a legal binding agreement. So, before you put to pen any document on your insurance, it is important that you go through the terms and condition as well as the policy to know the conditions obtainable. It is advisable that you hire a lawyer to explain the details of the policy to you since it is written in a legal terms.