3 Tips for Securing the Right Motorcycle Coverage, try out these suggestions to get the right motorcycle coverage

3 Tips for Securing the Right Motorcycle Coverage

Try out these suggestions to get the right motorcycle coverage.

As a motorcyclist, you understand how dangerous the open road can be.  This is why it’s so important to make sure that you have the right insurance protection in place.   To ensure that you stay safe on your bike, try out these suggestions to get the right motorcycle coverage.

1) Buy in Advance

Securing motorcycle insurance before you need it is a great way to save money on your policy.  For instance, if you are planning on buying your first motorcycle in April, then make sure you get insurance sometime in March.  When insurers see that you are being responsible, they will consider you a lower-risk rider.  This could allow you to access lower insurance rates.  Additionally, you will save money because buying in advance helps insurance companies protect against fraud.  When you purchase a policy ahead of time, insurance companies know that you will not attempt to file a claim for an accident that you have already had.  This, in turn, will also categorize you as low risk and help you save money.

2) Understand Your Settlement Options

When it comes to your collision and comprehensive coverage, you have three different settlement options to consider.  Actual cash value is the most common settlement option, and it is based on your bike’s value minus depreciation.  If your bike is considered a total loss, then your insurance company will compensate you for your bike’s market value at the time of your claim.

Replacement cost settlements will pay for a brand-new motorcycle without factoring in depreciation.  This settlement option is most highly recommended if you have recently purchased a new bike.

Agreed value settlements are the best options for people who own classic, custom, or highly-accessorized bikes.  With this settlement option, you and your insurer will determine a value for your bike.  In the event of a total loss, your insurer will compensate you for this previously determined amount.

3) Secure Accessory Coverage

Oftentimes, bike owners fail to secure accessory coverage for their bikes.  Accessory coverage protects everything that isn’t part of the manufacturer-supplied bike.  For instance, things like upgrades and customizations would be covered under your accessory coverage.  Additionally, your safety equipment and riding attire (leathers, gloves, boots, etc.) will also be protected under this coverage.

Try out these suggestions to get the right motorcycle coverage to meet your needs and your budget.  Are you looking for assistance with your motorcycle insurance?  If so, then contact the experts at Tri-Star Insurance/HUB International in Plano. Texas.  We are ready to assist you with all your coverage needs today.