As with automobile insurance, obtaining motorcycle insurance is possible through different means. The great advantage that the insurance world has developed in the 21st century is the introduction of new contracting methods, including the Internet. However, this also comes with some disadvantages. The main disadvantage is the overwhelming amount of options.
With so many insurance contracts available, the user can sometimes feel overwhelmed. Therefore, it is in their best interest to review the different variations of motorcycle insurance and the advantages and disadvantages of each one of them.
Motorcycle insurance on the internet
The internet is one of the most common methods of finding motorcycle insurance. It allows access to a lot of offers. Initially, the basic information required to obtain insurance price is limited. Usually, it will be enough to provide some personal data of the motorcycle you want to insure. However, remember that if you’re going to make a contract, you must provide more information, including economic and personal data.
The great advantage of online contracting is that it is usually very fast. One can obtain the insurance contract in just a few minutes. It is also possible to make good comparisons. This way we can look at different prices, which makes us potentially find better deals than we could with other contracting methods.
Motorcycle insurance through insurance brokers
Specialized insurance brokers is a good place to start looking for insurance. The great advantage of a technical insurance broker is that they will usually have a wide range of offers and an important negotiation margin with the insurance companies. Specialization also allows them to have direct contact with insurance companies. This is useful not only when contracting the policy but also for other types of consultations, communications, or even reporting an accident.
Contracting through the insurance companies themselves or authorized agents
Insurance brokers are sometimes confused with insurance agents. The main difference is that, usually, an insurance agent represents a company or a specific insurance group. That is to say, they will not have as wide an offer as the broker, but they will have much more room for negotiation with the companies they represent.
When looking to contract motorcycle insurance with an insurance agent, you are relying on the tranquility of practically direct contracting. It should be noted that direct recruitment in insurance is also done through its agents. The delegated yet exclusive agents are the most adequate means if you want to contract directly with the company.
What are the requirements for these insurances?
The first thing you should consider is what type of insurance you want. Remember that although some aspects are shared among all policies, the general conditions will also reflect the kind of coverage or particularities you request. The next step would be to check all the motorcycle insurance requirements that are in place in the state where you live.
Keep in mind that although the coverages will be quite similar, there may be some differences in insurance requirements. Subsequently, you should start defining the type of insurance and the cover you want to add. Generally, this includes property damage liability, bodily injury liability, and basic accident coverages. Along with these coverages, you can add many other, broader protection tools since insurance benefits are always expanding.
That is to say, you can also find travel assistance coverage, medical care, etc.
What should you consider before choosing your motorcycle insurance?
There are many factors you should consider before choosing your motorcycle insurance. We have already seen some of them previously throughout the article. However, if we were to highlight the main ones, they would be the following:
Know the local insurance requirements in depth: not all states share the same requirements for insurance. Although they tend to be very similar, there may be important variations. Therefore, it is necessary to thoroughly review the minimum insurance requirements of the place where you live.
Be clear about the intended use of your motorcycle: you should specify wether or not you use the vehicle sporadically, for example, for recreational purposes, or as part of a job. It is important to know how the vehicle will be used, the approximate kilometers it will travel annually, and the amount of drivers who will use it.
Which payment method you will choose: as you already know, there is no single official payment method when purchasing an insurance policy. In fact, you may even find subscriptions with quarterly or even monthly payments, and so on. Once you have chosen the payment frequency, you should choose the most convenient method. The two most common methods are payment by credit card and direct debit. However, some insurances will even allow you to pay by check.