Motorcycle insurance is not as commonly purchased as auto insurance, so consumers tend to be less informed about the details. This can lead to certain beliefs evolving into prevalent myths, which can influence poor decision-making and unnecessary expenses. This blog aims to debunk some of the most common motorcycle insurance myths, helping riders make informed choices.
Myth: Automobile Driving Records Don’t Affect Motorcycle Insurance
While auto insurance and motorcycle insurance are indeed separate products and can be purchased from different providers, it doesn’t mean they don’t influence each other. The truth is that your driving history plays a significant role in determining your motorcycle insurance premiums. Accidents, speeding tickets, and other violations have the potential to raise your rates, no matter what vehicle you’re operating. Keeping a clean driving record is crucial to securing affordable coverage.
Myth: Not Filing a Claim Will Prevent Rates From Rising
Many riders think avoiding claim filings will keep their rates low. Even if you are in an accident and choose not to file a claim, your insurance provider will more than likely discover the accident eventually. Insurance companies gather information about accidents from several sources, including from other providers when the other party files a claim.
Myth: Motorcycle Insurance Isn’t Necessary in Winter
A common myth is that you don't need motorcycle insurance during the winter months when your bike is in storage. However, canceling your insurance can leave you unprotected against theft, fire, and other damages. Plus, some insurers may increase your premiums when you reactivate your policy. Keeping year-round coverage ensures your bike stays protected and can save you money in the long run.
Myth: Minimum Coverage Is Sufficient
Some motorcycle owners decide to purchase minimum liability coverage because it is most affordable or because they believe it provides substantial protection. While meeting state requirements is important, minimum coverage often falls short of providing adequate protection. In the event of a serious accident, medical bills and repair costs can quickly exceed the limits of a basic policy. It's wise to explore additional coverage options to better protect yourself and your assets.
Myth: Motorcycle Insurance Is Expensive
Because motorcycle accidents tend to be more dangerous than car accidents, many people believe that motorcycle insurance is more expensive than auto insurance. However, motorcycle insurance tends to be more affordable because bike value and repair costs tend to be lower. Keep in mind that the cost of motorcycle insurance can vary based on where you live, your coverage limits, and your bike model. Riders can find policies that fit their budget by shopping around and comparing motorcycle insurance quotes.
Understanding the truth about motorcycle insurance can help you make better decisions and avoid costly mistakes. For affordable motorcycle coverage, be sure to explore plans from Saferoad Insurance Services. Fill out an online quote form today to balance reasonable premiums with considerable protection.