Motorcycling is a popular hobby. Many people enjoy riding motorcycles as a way to express their freedom and creativity. While exploring your passion, learning about the potential risks associated with operating a motorcycle is important. Obtaining motorcycle insurance offers you a layer of protection while you’re on the road. Finding the right motorcycle insurance policy can be challenging. However, things may become even more complicated due to false information being spread. To help clarify things, here’s a look at the actual truth regarding some common motorcycle insurance myths.
- Motorcycle Insurance Is Too Expensive
Many people automatically assume that they will not be able to purchase motorcycle insurance because the policies are simply too expensive. There is a common belief that insuring a motorcycle costs more to insure than other types of vehicles because of the increased risks involved. Motorcycle insurance is actually more affordable than auto insurance in most cases.
Motorcycle insurance rates are often lower than rates for other types of vehicles because motorcycles are smaller and cheaper to repair and replace in most cases. Your insurance agent will assess multiple factors to help calculate your rate, including your credit history, the area where your motorcycle is stored, the motorcycle’s value, and the amount of coverage you want to add to your policy.
- If Someone Else Rides Your Motorcycle, Your Insurance Will Be Inactive
This is incorrect. Your insurance will always be active regardless of whether you are operating your motorcycle or not. If your friend damages your motorcycle or injures someone while they are riding, you will still be held liable. There’s also a strong chance your motorcycle insurance rates will go up. It’s recommended that you avoid letting anyone ride your motorcycle.
- My Driving History Is Irrelevant
If you have multiple auto accidents on your driving record, that may impact your ability to find low motorcycle insurance rates. One way to avoid potential complications is by purchasing motorcycle and auto insurance from the same company. You may qualify for a discount that helps alleviate some of the financial strain involved with paying insurance premiums.
- I’m Better off Purchasing Minimum Coverage
This is a common error many motorcycle insurance owners make. Even though most motorcycles are small, they still have the ability to cause a lot of damage. Motorcycles are capable of reaching high speeds very quickly, so collisions with other vehicles or objects often lead to deadly consequences. If you accidentally damage someone’s property, your minimum liability coverage may cover the impacted party’s repairs, but you will be left unprotected regarding any damage to your motorcycle. You’ll be responsible for covering the repair costs out of pocket unless you have collision coverage. Minimum coverage won’t protect you if your motorcycle is stolen. Adding comprehensive insurance is the only way that you will be protected in this situation. It’s recommended that you avoid simply relying on minimum liability insurance.
- I Can Drop My Coverage During Inactive Periods
Many riders make the mistake of believing that they can drop their insurance during periods when they aren’t riding their motorcycle regularly and simply add it back in a few months. A lapse in coverage will raise your insurance rates significantly.
Consult with Premier Risk, LLC to Get the Best Motorcycling Insurance
Learning the truth behind these common motorcycle insurance myths can help simplify the process of finding coverage. The team here at Premier Risk, LLC will help you find the right policy. Contact us today if you have any questions, and we will do our best to resolve all of them while creating the best motorcycling insurance for your needs.