Just like every car needs to be insured, so does every motorcycle. So when it comes time to buy a new (or used) bike, you’ll have to consider the cost of coverage on top of the monthly motorcycle payment. But how much will this cost you?
Many factors go into the calculation of a motorcycle insurance policy, including:
Type of motorcycle
Your driving record
Local weather
Local crime
State coverage requirements
And many more
Fortunately, your independent insurance agent can provide you with quotes to help with your purchase selection. You can typically expect motorcycle insurance to cost less than your auto insurance, largely because cars are more expensive to repair or replace than a bike.
There are also several ways to bring down the cost of your motorcycle insurance. A proven track record of safe driving is one of the best ways to lower those costs. You can also bundle your motorcycle coverage with your other personal policies, take a motorcycle safety course and talk to your agent about additional ways to save. Some insurers even offer discounts if you make less frequent premium payments; for example, paying biannually instead of monthly.
It’s also important to remember that the cost of buying a new motorcycle doesn’t end with the bike and its coverage. You’ll also need to invest in safety gear, such as a helmet, jacket, gloves and other equipment designed to keep you safe in the event of a fall or accident. You may also need other items like a bike cover and/or bike lock.
All of these aspects of motorcycle ownership should be taken into consideration and budgeted out before you take the plunge of buying the bike. And once your finances are in order, our agency can help you find the coverage you need within your budgetary needs.
We’ve got you covered. Call Buschbach Insurance Agency at (708) 423-2350 for more information on Chicago IL motorcycle insurance.