How to Compare Cycle Insurance
- 1). Access your needs before you shop. If you have an older bike, you need an insurance company that insures older bikes. Additionally, some customized bikes are off limits for some insurance companies, while others specialize in those styles. Write down your bike make, model, age, and style type and determine the value of your bike prior to seeking insurance.
- 2). Compare three policies from three different cycle insurance carriers. Setting a limitation to the amount of policies you review helps you identify the exceptional policy from the norm. You will get a feel for the types of cycle policies that are available so you can choose the best one out of three options. If you do not find what you need, research another set of three policies from different cycle insurance carriers.
- 3). Select one or more deductibles. Compare insurance rates based on the same deductible amount. This is the easiest and most fair way to compare cycle rates. Typical collision deductibles range from $250 up to $1,000. Comprehensive rates vary from $100 to $500, however, they may be higher.
- 4). Look for insurance that gives discounts for your efforts, past and present. For example, if you use an anti-theft device or place your bike in the garage when it is not in use, ask for a discount. Attending a motorcycle safety course may also be worthy of a discount by some insurance companies. Tour bike and multi-bike discounts are also common as well as professional riding association discounts.
- 5). Check each policy for uninsured or underinsured motorist coverage, collision, comprehensive, towing, and medical payment coverage. Compare rates and coverage amounts for each item.