“Guest contribution provided by
Cheap Insurance 1-2-3″

 

Motorcycle enthusiasts are a hardy lot.  While pursuing their favorite pastime gliding down a mountain road at early dawn or cruising along the highway near dusk, the inescapable fact of life is that they are more prone to having an accident than a car driver by a factor of 2 to 1.  Although these accidents are more often than not caused by a car driver’s inability to notice them, many motorcyclists unfortunately fall victim to poor road conditions.  Oil spills, puddles, gravel, and potholes are just a few of the hazards that must be avoided to enjoy a safe ride.

 

For all of the above reasons, finding affordable motorcycle insurance can be a daunting task, but there is one more factor that also influences premium levels – a driver’s location, and if that driver’s location is continually in the eye of a hurricane or tornado, then finding cheaper insurance premiums can be all the more difficult.

 

The initial estimates of the damages wrought by Hurricane Irene are coming in at roughly $12 billion.  The insurance industry will pay out claims in the neighborhood of 50% of this amount, and these losses will affect future premium calculations for all types of property coverages.  Motorcycle insurance is very similar to auto insurance in how agents design various peril coverage, deductibles, and exclusions, and one fact that is often overlooked about the insured losses during the year of Katrina is that over 700,000 cars were destroyed during that year’s storms nationwide.

 

Hurricane season traditionally begins after May each year, and then continues through November.  The ability to predict the creation of destructive storms and their eventual paths has increased geometrically over the past few decades.  However, computer models are not nearly as accurate when they attempt to predict hurricane intensity.  Even after accepting these limitations, the National Oceanic and Atmospheric Administration has already warned that an above-normal hurricane season will occur this year.  There may be as many as ten serious hurricanes forming this season over the Atlantic Ocean.

 

If you live in an area that has a high probability for hurricane damage, then you can expect to see insurance policy rates increase.  However, finding inexpensive motorcycle coverage is very much like finding cheap auto insurance rates.  There are several websites that provide safety tips on how to prepare for potentially bad storms that may severely damage your home, car, boat, or bike.  Unfortunately, you cannot control the weather or affect its potential for damage to your property, but if your goal is to lower the cost of insurance, then these tips may help you achieve that objective:

 

• First, familiarize yourself with the details of your present policy.  You may find that you do not have the coverage that you thought you did.  Review the fine print for perils covered and specific exclusions.  Once informed, define your needs and obtain quotes from a number of sources.  Be especially tuned into where all discounts are available.  If you stay with one insurer, you will most likely qualify for multi-peril discounts if you also insure other property items with them.  Be sure to ask each potential insurance partner what specific discounts that they might provide based on your specific circumstances;
• Your driving record is already behind you, but many insurance companies offer discounts if you have taken an approved course in motorcycle safety.  Improving your skills is good for your own peace of mind, but you may also save a few dollars in the process;
• Are you a member of an organized motorcycle group like the American Motorcyclist Association?  Many insurance companies also offer discounts for various groups that promote safety while on the road;
• One rule of property insurance is that the more expensive the item to be covered, the more expensive the insurance.  If you are considering buying a model on the high end of the cost spectrum, expect to pay more regardless of what you do to limit the monthly premium.  If you have a loan on your bike, you can also be sure that your lender will want more than adequate coverage to protect his collateral;
• Lastly, you can always experiment with deductibles and various coverage options.  Since most motorcycle accidents are caused by other drivers, be sure that you have uninsured motorist coverage.  Your state will most likely require a minimum of bodily and injury coverage, but deductibles and collision and comprehensive coverage are areas worthy of review.  However, remember that any losses not covered will be your responsibility.

 

Motorcycle insurance rates are based on your driving record, the value of your bike, and where you live.  If you live in a hurricane area, premiums will be higher, but by following these tips and comparison-shopping, you can arrive at something affordable.