You are looking to save money. You have cut costs in several different areas of your life; however one decision sticks out like a sore thumb. Do you sell the truck and buy a motorcycle? The motorcycle is much cheaper right? It’s a great way to save money? While true, motorcycle insurance is one thing you can expect not to drop in cost.

Motorcycle insurance covers the owner or driver against the typical events that may occur, which fall under the categories of accidents and theft. The insurance only covers the owner or driver, because motorcyclists usually ride by themselves, generally without anybody else tagging along.

Compulsory insure for motorcycles is usually low, however fire and theft are not taken into account. Motor bikes are easy to steal and insurance companies are timid when covering such a hot commodity. Expect high premiums if you wish to cover theft and fire.

Also, insurance companies receive a lot of claims dealing with horrific injuries to the motorcycle driver and or passengers when they are exposed to an accident. Motorcyclists are not protected well, especially when you take into fact that they are traveling anywhere from 30-100 mph’s, are not protected by the vehicle, do not wear seatbelts, and are totally exposed to other traffic. Because of this, you can expect high premiums.

Insurance companies cannot kill their integrity by jumping to conclusions when it comes to calculating costs and risks of motorcycles. Accidents and theft do happen, but the majority of bike riders are safe and smart on the road. The insurance company will also drop the rate if the driver is older, very experienced on a bike, and rides a bike that is not overly powerful.

While the driver’s age and riding experience is import, the insurance company cares more about past speeding and driving offenses as well as number of accidents the driver was involved in. If the number is low, the premium will be cheaper. Car and motorcycle insurance really pays off for drivers who are careful on the road.

Last but not least, a bike owner will receive a lower premium if they use the motorcycle more for a recreational activity and less for everyday use. For example, if your primary mode of transportation is a truck and you just own a bike for pleasure, chances are your premium will drop.

Graham McKenzie is the content Syndication Manager at insurance123.co.zaSouth Africa’s leading Motorcycle Insurance information portal

Tags: Bike Insurance, Bikes, Insurance, Motorcycle, Motorcycle Insurance

This entry was posted on Wednesday, November 25th, 2009 at 4:24 am and is filed under Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.