After you find the right motorcycle, insurance comes second. However, even before you call the insurance agent for your Moto Guzzi GB brand, you should know how insurance companies calculate their coverage rates. Knowing how the insurer will rate you for motorcycle coverage can help you find the best and cheaper coverage for your bike. Whether you own a Moto Guzzi GB has to offer or any other brand of a motorbike, here are top factors that you should understand.
The Type of Bike
This aspect relates to whether your motorcycle is new or older. For instance, new and flashy bikes cost more to insure than older and basic models do.
The Age of the Owner
Similar to car insurance, if you are older you are likely to pay less for motorcycle insurance. On the other hand, if you are a new and inexperienced rider, you are likely to end up in a higher rate category. The status can change when you acquire adequate riding experience.
Your residential address may influence how much you pay for motorcycle coverage. For example, if you live or drive in a crime-prone area, you are likely to pay more for coverage. Similarly, you may pay more if you live in an area that experiences high traffic accidents.
Nearly every company you approach for coverage will analyze your driving history. If you are a new rider, the accidents in your record will work against you and you’re likely to end up in the higher category. With a cleaner record, you pay less.
This relates to where you drive to and park regularly, which may influence the charges. For example, if you park your bike in high-risk areas such as construction sites, you are likely to pay more on coverage.
After knowing how insurance companies calculate charges on coverage, you should know how to shop for the right and cheaper coverage for your motorbike. Here are a few tips to follow:
Shop Around: insurance policies can vary widely in a given region. Therefore, consult as many providers as possible to get their quotes. This will help you narrow down your search to the most reliable and affordable.
Security Add-Ons: you are likely to get discounts if your motorbike is secured with add-ons such as alarms or other accessories. In addition, remember not to over-insure because when something happens to your bike, the insurer just provides the bike’s market value.
Mileage: some insurance companies offer discounts for keeping the mileage low. Additionally, if you have special training in motorcycle riding, you can secure discounts and pay less.
If you get a better deal from a provider, there is no need to pay more for the same service with another provider. To insure your Moto Guzzi GB dealers have to offer, keep in mind these tips. In the event that you get involved in an accident, you get the same value of your bike regardless of the insurance company that you choose. By keeping these factors in mind while you shop, you can know how to save money and get the right coverage for your motorbike.