So you have caught the bug and have decided to buy your very own motorcycle and learn how to ride. While motorcycle riding can be a fun recreational activity, you always want to be sure you remain safe at all times. You also want to be sure your investment is protected in the unlikely event that you have an accident. This means shopping around and purchasing motorcycle insurance to protect your new ride.
At first glance, it may seem like motorcycle insurance functions just like protection for a car. However, while the two types of policies are very similar, there are a few differences that you should be aware of before you buy the first policy that you find.
1. Size matters
I’m sorry to be the one to break this to you, but the bigger the bike, the more you will pay. Insurance is, at the end of the day, a game of numbers and the more cc’s your bike has (meaning the larger the engine), the more you will pay for insurance. Why should it matter? Insurance companies assess risk as a part of their determination of how much you should pay. The more cc’s your motorcycle has, the more raw power you have at your fingertips. This means that you will be able to go faster much more quickly and for much longer, increasing your risk for some high-speed collisions.
When you are shopping for a new motorcycle, you need to keep in mind that your insurance rates will greatly depend upon the size of your bike. If this is your first bike, you probably shouldn’t buy the biggest bike available anyway, as you won’t have the riding experience necessary to handle it safely. Even if it isn’t, you have to be sure you can afford to insure the motorcycle if you ever want to ride it down the road. So before you buy, double-check with your insurance company to be sure you can afford not only to buy the bike, but also the insurance payments.