Just got a new motorcycle? Fantastic! There are so many exciting things to see and do on a motorcycle that just aren’t the same in a car. But before you hit the road you need to take a hard look at your insurance policy. Coverage varies when relating to vehicles and term of protection on those vehicles. Is it adequate to protect your investment? Are you paying the best possible price? Is your insurance company a fan of motorcycles, or do they look at these vehicles as a liability? It’s necessary to ask yourself a lot of important questions regarding possible insurance policies and how they fit into your insurance needs. Here’s how to evaluate your current insurance and see where there’s room for improvement.

Low Price vs. Good Value

It’s tempting to shop for the lowest possible price on vehicle insurance, but you might pay for your thriftiness if you ever have a claim. Look for customer satisfaction ratings and company claims policies. It’s worth it to most motorcycle owners to pay a few more bucks for insurance knowing that they’ve got a solid company behind them if something does happen.

Know What Protection the Quote Includes

It’s important to be able to discern between what each insurance policy is offering you. There are three key terms to know when shopping for motorcycle insurance.

• Liability insurance covers any vehicle, person or property you hit with your bike. All states require a minimum of liability on any vehicle operating on public roads. Liability insurance does not cover your personal injuries or any damage to your bike or property. However, if another driver hits your motorcycle, their liability insurance should cover your damages.
• Collision insurance covers your vehicle and personal injuries in case of an accident. Collision covers everything liability covers plus the value of your bike, but only covers accidents on the roadway.
• Comprehensive insurance covers everything liability and collision cover, plus other incidents independent from traffic accidents. Comprehensive policies cover your bike in case of fire, vandalism, fallen trees and other mishaps.

When comparing quotes, make sure you compare apples to apples. Some companies charge as much for liability insurance on motorcycles as others charge for collision.

Don’t Stop With a Quote from Your Current Insurance Company

Another temptation for consumers is to simply add their motorcycle to their auto or homeowner’s policy without taking the time to get motorcycle insurance quotes. Every company has a different opinion of motorcycles, and some are more accepting than others. It’s possible that another insurance company is willing to offer a better deal than your current provider, which could potentially save you a great deal of money on your coverage. Review your policy every year or so to make sure your company is offering you competitive rates for your driving habits.