Motorcycle Insurance - Tips on How to select one

A moped is a low-powered type of motorcycle. It is designed to provide economical and safe transport and that does not require much documentation for license. Whatever may be the vehicle type or size, it is mandatory to insure the vehicle. We will discuss few very crucial points that a vehicle owner should ask the insurance agent before going for the insurance.

Asking the Right Questions to Your Motorcycle Insurance Agent

While buying a moped, we ask so many questions to the dealer. It should be the case when we decide what kind of auto insurance we shall go for. It saves us unnecessary frustrations and time. Typically, the insurance agents do not provide us with every aspect of a policy. It is assumed that we would read it back at home and it is known that most of us do not do it. The points are only relevant when a claim is required and that is exactly when we bother about the important policy details. Below are few points that each one of the moped owners should ask the insurance company.

Motorcycle Insurance

Is collision and comprehensive cover both a part of my insurance?

The collision cover protects the vehicle when accidents occur. Comprehensive cover does not look after all that fall under collision cover like theft, vandalism and flood. However, excess requires to be paid for both, still it is necessary to ask for these two covers.

Am I entitled to all the available discounts for my motorcycle?

Safe driver, multiple driver, vehicle safety feature discounts are typical and known to all. Ask for Good student discount, clean living, matured driver, anti theft and safety equipment, hybrid vehicle, defensive driving course, low mileage, multiple policy and professional organization discounts.

When a motorcycle is at total loss, what amount the insurance company would pay?

Total loss for a motorcycle is when the value of repairing the motorcycle post an accident is more than the actual cash value of the motorcycle. There are two ways to know the value and the options are:

  • By ascertaining its actual cash value instantaneously prior to the accident.
  • By acquiring a quote for the same motorcycle from a qualified dealer.
  • What is the significance of uninsured or underinsured motorist cover?

    The UM/UIM coverage does not come with all motorcycle insurance and is only applicable in case the same is asked for. Drivers generally drive without the required insurance cover. Getting in to an accident with a driver who is either not insured or underinsured would enhance the chance of the owner getting hooked for damage. There are two types of coverage possible under UM/UIM:

  • Bodily injuries: This covers the injuries in the body of self and passengers in the event of an accident. This type of coverage pays for all the injured to a certain extent.
  • Property damage: The damage for hitting a property is covered under this policy.
  • Are the original parts covered under the insurance?

    This depends on the insurer and one should enquire and gather knowledge about this before buying the insurance. Some companies assure to cover the original equipment manufacturer parts while the rest only provides claim for aftermarket parts. The aftermarkets are cheap and are made by foreign manufacturers. In comparison, since the OEM is made by original manufacturers, not all companies pay for it.

    GOOD TO KNOW: It is always good to ask questions and then take the insurance. It can actually help you in getting adequate cover to protect your motorcycle.

    BE CARFUL: Before you finalise the motorcycle insurance just get answers to these 5 questions:

    1 - Is auto insurance regulation a part of the state periphery?

    Practically all states would require you to carry insurance. Liability insurance is a must and major states persist on having a no fault motorcycle insurance policy. It is best to check with the insurance regulation office to get an idea on the basic insurance essentials one is required to have.

    2 - Is insurance rate depended on where I live and the place I drive to?

    Residents of a relatively safer place are known to pay less insurance rate for complete coverage. The same person when shifts to a high crime area pay more insurance. Chances of getting attacked by thieves are more there. Lastly, the distance travelled by the motorcycle is sure to affect the insurance rate because lower distance means lesser wear and tear of the motorcycle. The same increases when the motorcycle travels up a longer distance.

    3 - Why high-risk drivers pay more?

    It is indeed advised to drive safe because as it is if you are under 25 and have had accidents before, then you are most likely to pay up more insurance rate than others. Insurance is a subject that falls under statistical probability table. If you feature under the risky group, then you are certainly going to pay more insurance rate.

    4 - What are excess?

    Excess is known as the amount one has to pay from pocket before the insurance company steps in. E.g: Your excess amount is 300 pounds. A just caused accident has incurred the motorcycle owner an expense of 500 pounds. In this case the motorcycle owner has to first pay the excess amount which is 300 pounds and then the insurance company shall take up the rest 200 pounds. The lower the excess is, the higher the insurance rate will be.

    5 - How to ensure future savings on insurance coverage?

    It is not easy to replace the total motorcycle at the drop of the hat. One needs to keep this point in mind while going through insurance policies. Inclusion of comprehensive insurance and collision is advisable as in case there is an emergency or accident where the motorcycle needs replacement, this cover would help you get the replacement cover. So in a way you are adding to the insurance rate but then that is securing the future clause in case of accidents. That is certainly a big deal.

    Happy & safe riding!
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