So my fun filled weekend was spent on the phone and online with insurance companies. Being the insightful and informative team that is Bren and Sven, I thought I’d give a few pointers when dealing with the head ache of shopping for insurance.
Be prepared to waste hours upon hours of your life when shopping for insurance. Shopping for insurance is just like shopping for a car, it will be taxing on the body and mind, and will most likely be a multi-day event. If you go with the mentality that you’ll be in and out in seconds you’re sadly mistaken, or even worse, could end up getting shafted with an over priced premium.
Have all your personal information ready. This includes your personal details (marital status, gender, home address, etc) and your motorcycle information. All of this information should be a given. If you don’t know the make or model of you bike, you probably shouldn’t be riding one period.
There are some bits of information you might want to research. Insurance companies will want to know why you’ll be riding you motorcycle. So is this for business or pleasure? Also, try estimating your annual mileage. Rule of thumb: the more miles you have on two wheels, the more likely you’re to wreck.
Know your driving/ riding history. Companies are going to want to know both how long you’ve be driving and how long you have been riding, so have your endorsement date ready. Also, they will ask for tickets, accidents, and any DUIs within the past 3 or 5 years*.
* Word of the wise; when it comes to your past driver/ rider history, it could be beneficial of stretching the truth. If you show to be a safer rider, your rates will definitely be lower. Insurance companies will obviously do their research, so prior DUI convictions might stand out and you could get pinched if they catch them. On the plus side, you could keep the tickets and accidents a secret and get away with it. So it doesn’t hurt to stretch the truth.
Do not over insure. There is no need to insure you 2002 Honda for $50,000. Go as low as you comfortably can when it comes to coverage, but also keep in mind of state laws. Some states require certain coverage. Also, if you can opt out on certain parts of coverage do it, and it certain things seem impractical to you then don’t get it. Use your judgment, there is no need to waste more money on stuff you may never use.
If you decide to purchase insurance through a local affiliate office, go with an agent not a broker. Brokers can charge extra fees based on commissions. Agents work through the insurance companies and are not allowed to add extra charges.
Discounts can drop your rates, especially if they are coupled with one another. If you took a riders safety course, you can receive a discount off your premiums. Having no accidents, tickets, or DUI convictions over so many years can get you a good driver/ rider discount (see it could benefit to stretch the truth). If you buy other types of insurance from the same company, the company will be more inclined to cut your rates. So if you buy Progressive Insurance for your car, it could be cheaper to buy motorcycle insurance from them rather than Geico or Allstate.
Lets face it, shopping for insurance isn’t fun. It is a necessary evil, but you will be glad to have it if and when that one time happens. The following are links to popular motorcycle insurance sites.
Geico /// Allstate /// Progressive /// Liberty Mutual /// Farmers /// State Farm /// eSurance /// Nationwide
Keep the paint up and the rubber down. Ride safe. -Sven
