When it comes to insuring a two-wheeler, what many bikers do is simply hand the business to the company that insures their car. Bad idea.
Because there are companies that specialize in motorcycles, and they might offer better rates. So tip one to pay less? Shop around.
Tip two? Join the club. Membership in clubs like the Harley Owners Group, BMW Motorcycle Owners and American Motorcyclist Association can get you discounts. They also give you the opportunity to talk to other bikers and see who's paying what to whom.
Only take your bike out occasionally? Ask about an infrequent rider’s discount. If you store your bike all winter, you might get a discount for that as well.
While you need liability insurance, you might consider dropping comp and collision. But that means if your bike gets stolen, vandalized or you wreck it, you're on your own. So this only makes sense if you don't owe anything on it, and it's not worth much.
Another idea? Ask for discounts. Are you over 50? Keep your bike in a locked garage? Have anti-theft devices installed? Insurance companies often offer discounts, but you've got to ask - they're not going to offer.
And your final tip: raise your deductible. This works for any kind of insurance, from health to home to motorcycle. Raising a deductible from $250 to $1,000 is a quick way to trim your cost 10 - 20 percent.
Bottom line? When it comes to motorcycles, before you ride that chopper, be a shopper. And if you want more tips to save on every kind of insurance, visit MoneyTalksNews.com.
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