Are you worried that you are paying too much for your motorcycle insurance? If so, then you might have considered dropping this coverage. That’s absolutely not the best decision.
Instead, there are many other ways that you can save practically on your motorcycle coverage without dropping your plan altogether. Biking uninsured is against the law, not to mention extremely dangerous. Instead, by working with one of our agents to make practical changes to your motorcycle policy, you can find ways to save money without sacrificing the protection you still need.
Here are just a few ways to see if you can reduce your premium:
1. Ask Your Agent to Compare Policies
By working with an independent insurance agency like Augustine Insurance Group, you are not limited to buying only the policies of a single insurance carrier. Therefore, we can look at the policy options of multiple insurance companies to determine which one offers you optimized pricing for similar coverage. That way, you’ll always choose the plan that offers you the most savings up front.
2. Consider Dropping Your Physical Damage Insurance
Your motorcycle insurance might include physical damage coverage, which will pay for your bike’s damage following collisions or other hazards.
However, most of these policies only pay for bikes based on their actual cash values, which are the items’ used values at the time of a loss. Therefore, if you have an older bike, the potential payout for a loss might not be worth the premium you pay for this coverage. Therefore, it might be better to drop this coverage.
Still, if you have financed your bike, then you will likely have to carry this coverage no matter how old your bike might be. Additionally, you should never drop the liability coverage or any other coverage required of you by your state of residence.
3. Increase Your Damage Deductibles
If you keep your damage coverage, then you might be able to increase your damage deductible, which might reduce your premiums. However, by increasing your deductible, you agree to pay for a higher portion of your damage yourself. Therefore, you should only increase your deductible if you can afford to pay a higher out-of-pocket cost.
4. Ask About Policy Discounts
If you have not applied all available discounts to your motorcycle policy, then you might be missing out on one of the easiest ways to save. You might qualify for Veterans’ discounts, safe-driving discounts and even student discounts if you are enrolled in school. Additionally, some motorcycle insurers offer customers the opportunity to take safe driving courses, which can qualify you for a discount upon completion.
To start saving on your motorcycle insurance, all you have to do is call one of our agents. We understand that all our clients want to save money on their motorcycle policies, so why not put your trust in us to let us deliver your solution.
Also Read: How To Save Money On Motorcycle Insurance In Fort Campbell
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