To calculate motorcycle insurance premiums, carriers weigh a variety of factors to determine how likely you are to file a claim. While some of these elements are outside your control, your own choices can have a significant impact on the cost of covering your bike. Below are a few of the most important factors that influence motorcycle insurance prices.
What Impacts Your Motorcycle Insurance Rates?
1. Your Driving History
Your own actions on the road are one of the most important factors insurers consider when calculating their risk. Generally, drivers with a history of accidents and traffic tickets will pay more for coverage than someone with a clean record. Fortunately, many insurers offer a discount for motorcyclists who pass an approved biker safety course, reducing the effect of past driving mistakes.
2. The Bike You Ride
Insurers collect large amounts of data on different motorcycles, including the frequency of accidents and the average cost of repairs. Larger, more powerful motorcycles with more expensive parts will typically result in higher premiums than older bikes that cost less to repair.
3. Your Annual Mileage
The more time you spend on the road, the more likely you are to be involved in an accident. As a general rule, motorcyclists who ride their bikes to work every day will pay more for coverage than someone who just takes weekend cruises through the mountains.
4. Your Security Features
If your motorcycle insurance includes comprehensive coverage, your insurer also has to consider the risk of losses due to theft and vandalism. Any steps you take to keep your motorcycle safe, like keeping it in a garage or installing anti-theft devices, will usually result in lower premiums.
For over 30 years, Goggans Insurance has helped bikers throughout Scottsboro, AL, get the coverage they need at the best rates available. As an independent insurance office, they work with a variety of the industry’s best carriers and will take the time to find a policy ideally suited to your unique situation. Visit their website for more on their motorcycle insurance services, call (256) 574-3440 to request a quote, and follow their Facebook for more helpful tips and advice.