Ways to Reduce Your Motorcycle Premiums
Ways to Reduce Your Motorcycle PremiumsBuying insurance coverage for your motorcycle can be expensive as bikes present a higher risk than automobiles. They’re more susceptible to accidents caused by bad weather and poor road conditions. They are also less visible to other drivers, and less stable than cars. Want a competitive quote; contact us at
www.loudoun-insurance.com or at NOVA Insurance Group (tel: 703-263-7800). We're centrally located at the Chantilly (20151), Fairfax County / South Riding (20152), Loudoun County border.
In spite of this, you want to be sure you have sufficient coverage for your bike, because you‘ve likely invested a lot of money in it. To help you find the best coverage for the best rates, the Insurance Information Institute offers the following tips:
Get seasonal coverage - Most bikers aren’t road warriors who consistently ride their bikes all year long. If you store your bike for several months out of the year, there's no need to fully insure it. Many insurers offer seasonal policies that cover your bike for six to nine month periods of actual usage.
Take a motorcycle-safety course - Some states require these courses before they'll issue a motorcycle license. Even if your home state doesn’t require it, you may be eligible for a 10 to 15 percent discount on your policy for completing one. Before signing up for a program, it’s a good idea to contact your insurer. Some companies only recognize certain programs. If you've been riding for a while, you might be able to get a discount for taking a refresher course.
Increase deductibles - A deductible is the amount of money you have to pay before the coverage kicks in. The higher your deductible, the lower your premiums. When choosing a deductible, make sure you can afford to pay out-of-pocket for any costs that are incurred before your insurance kicks in.
Ask about multiple bike discounts - If you've got more than one bike, or live with someone else who rides, you can usually get a discount. Likewise, it might be worthwhile to insure your motorcycle with the same company that covers your car. Call us at NOVA Insurance Group (
www.south-riding-insurance.com) 703-263-7800.
Install anti-theft devices - If you financed your bike, you've probably taken out comprehensive coverage. Comprehensive protects against theft, fire, and other damages not caused by an accident. Some companies offer a discount on comprehensive coverage if you utilize an anti-theft device.
Maintain a good driving record - Insurance companies analyze your driving history to determine rates. How you drive a car usually indicates how you'll ride a motorcycle. If you've only recently obtained a driver's license, you might want to wait a year or two before getting a motorcycle. If you maintain a good driving record, your rates will be lower once you're considered an "experienced" driver.
Ride with a group - Membership in a motorcycle club, such as the American Motorcycle Association, BMW Motorcycle Owners of America, Harley Owners Group or Retreads can also save you some money on your the insurance premium.
Labels: Fairfax Insurance, fairfax-motorcycle-insurance, Loudoun Insurance, loudoun-motorcycle-insurance, South Riding Insurance 20152, south-riding-motorcycles
Endorsement or Separate Policy - What's the Best Way to Insure Your Motorcycle?
Endorsement or Separate Policy: What's the Best Way to Insure Your Motorcycle?
As the weather warms up, more and more riders will be hitting the streets with their motorcycles, here in South Riding 20152, Stone Ridge 20105 and Brambleton 20148. Whether you’re a weekend rider or a hardcore road warrior, you want to be sure your valuable bike is covered for any contingency.
As a motorcycle owner, you are faced with the decision of whether to insure your bike by adding an endorsement to your auto insurance policy, or by buying a separate policy. It’s important to understand the differences between the two so you can choose the option that best suits your needs. Remember, different insurance companies offer varied coverages and policy types, whether it's Fairfax or
Loudoun County Insurance your'e obtaining!
An endorsement is a document that is added to a basic policy either at the time the policy is purchased, or during its term, which becomes part of the policy and increases the coverage provided by that policy. If you insure your motorcycle by adding an endorsement to your Fairfax or Loudoun auto insurance, you will only have one insurance bill to pay to cover both your car and your bike.
However, there are certain disadvantages to insuring your motorcycle this way. In most cases, you cannot customize your insurance with an endorsement. You are locked in to the same coverages, limits, and exceptions for your bike that apply to your car. That’s why it is important to discuss with your insurance agent what a motorcycle endorsement covers and how it's covered before you add it to your auto policy.
Your insurer may offer you the choice of purchasing separate coverage for your motorcycle. While motorcycle insurance does vary by state and insurance company, one thing remains the same; your driving history and credit score may impact your eligibility. Riding a motorcycle is a higher risk activity than driving a car; if you have a number of tickets or accidents on your driving record, you may be considered too high a risk for the insurance company to extend separate coverage.
If you qualify, there are certain advantages to having a separate policy. Because these policies are created specifically for motorcycles, they offer more coverage options. For example, a motorcycle policy allows you to choose higher liability limits than you have on your auto insurance.
One of the great things about owning a bike is the ability to personalize it, but many of these customizations aren’t covered unless you purchase a separate motorcycle policy. Typically, a basic motorcycle policy will extend coverage for custom parts and equipment up to a specific limit, such as $1,000. If your custom accessories or parts are worth more than the basic policy limit, it's a good idea to purchase additional coverage to cover those parts in case they're ever damaged. Also, be sure to ask for a list of the specific custom parts that are covered, and any exclusions that may apply.
Keep in mind that although you will be paying a separate premium for motorcycle insurance, you may qualify for discounts, here at
NOVA Loudoun Insurance Group. Many insurers offer discounts for multi-motorcycle policies, mature drivers, and insuring both your auto and motorcycle with the same company. In some instances, you can receive a discount for attending safety training programs, or for becoming a certified motorcycle safety instructor.
Labels: fairfax-motorcycle-insurance, fairfax-motorcycles, loudoun-motorcycle-insurance, loudoun-motorcycles, motorcycle-insurance, south-riding-motorcycles, virginia-motorcycles
