What you need to know about buying motorcycle insurance, including how to find the lowest quotes. How insurance companies rate motorcycle insurance and more.

1. How do insurance companies rate motorcycle insurance?
2. Do I have to have a motorcycle license to get insurance?
3. Why is comprehensive coverage so much more than liability insurance on my bike?
4. Are there benefits to using an agency to quote my motorcycle insurance?
5. How can I find the lowest rate insurance quotes?

1. How do insurance companies rate motorcycle insurance? Insurance companies rate motorcycle insurance just like auto insurance, with a few differences. Here is a list of the main rating factors used to determine your rates…

• ZIP Code: Areas with a higher loss history have a higher rate
• Date of birth: wisdom and security come with age
• Driving experience: more experience equals lower rates
• Marital status: Married passengers enjoy slightly lower fares
• Violation History: More Violations, More Premium
• Requested Coverages – Better Coverages, Higher Premiums
• Motorcycle value: only when purchasing comprehensive coverage
• CC Size – Size Matters, Bigger Motors Pay More
• Cycle endorsement date – the date you obtained a motorcycle license
• Discounts and other qualifying factors – ask your company for details

2. Do I have to have a motorcycle license to buy insurance? You do not have to obtain a motorcycle license to purchase motorcycle insurance, however, having a motorcycle license does affect your rates. Having a class M license shows the insurance company that you are an experienced driver and less likely to be involved in an accident. The longer you have your motorcycle license, the lower the rates will be. There are many companies available for you to purchase motorcycle insurance even if you don’t have a license, but be prepared to pay a higher rate than those with a license.

3. Why is comprehensive coverage so much more than liability insurance on my bike? The reason full coverage insurance on a motorcycle is so much higher than liability is simply because of the risk involved. Remember, liability insurance covers others for which you are responsible, not your bike itself, and full coverage covers your bike and liability. If you hit someone with your motorcycle, your insurance company has to pay for the damage you caused to others and their property. How much damage can you really cause with a motorcycle? That’s why motorcycle liability insurance is often so affordable. The damage you can cause with your bike reflects the liability rates you pay. Now, it’s another story when it comes to full coverage. Almost any type of accident will cause extensive damage to your bike that you would have to pay for, resulting in much higher fees. Get quotes from both and compare your options before making a decision.

4. Are there benefits to using an agency to quote my motorcycle insurance? There are great benefits to using an agency. Agencies often work with multiple companies that have different guidelines, prefer different types of risks, offer different discounts, and more. Agencies can enter your information into a comparative rater and instantly see the rates of all the companies they have to offer. Agencies will usually do everything they can, including but not limited to offering all available discounts to help you find low-cost motorcycle insurance.

5. How can I find the lowest motorcycle quotes? When shopping for any type of insurance quote, you want to do everything possible to provide the most accurate information. The reason you want to do this is because a company that quotes you the lowest fares with, say, no tickets, will generally not be the cheapest if you have a ticket. Each company has its own way of qualifying, so when you’re shopping around for your motorcycle insurance, provide accurate information, especially with prior tickets to ensure you’re comparing accurate rates. Also, take the time to quote at least 3 different companies to understand the price range you have to pay. Lastly, make sure you get a quote from at least 1 agency, as one agency instantly quotes multiple companies, so 1 call gets you the lowest quote of many. Insurance agents can also usually offer discounts and help you find the lowest motorcycle insurance quotes.