Tips on How to Compare Bike Insurance

When you compare bike insurance, you need to look at more than just price to make the best decision. It is very common for an insurance agent to quote potential policyholders basic coverage to attract them to the policy. The problem with this is that you are putting yourself at-risk of filing a claim that will not be covered when you need the insurance company to be there for you the most. If you want to avoid this situation, you need to request several different quotes from several different insurers and look at the important areas of the policy. Here are some tips on which areas you should review before you purchase a bike insurance policy.

Liability Insurance Limits

You have to carry liability insurance by law to ride your bike on public roadways. The state sets minimum limits that you must carry to satisfy the compulsory laws. When you are reviewing your insurance, you should ask your agent what the state minimums are and inquire on higher limits. If you choose low limits of liability for bodily injury and property damage, you may end up paying for damages and medical bills out-of-pocket. This is why you should always opt for a policy with higher limits, even if it costs you a few extra dollars each year.

Does the Policy Offer Medical Payments Coverage?

In same areas, medical payments cover is optional. Choosing not to purchase medical payments will leave you at risk, regardless of if you have medical insurance or not. Many medical insurance providers exclude injuries to the back and chiropractic care. You should check with your insurer to verify this is covered if you do not purchase the optional cover. You may also want to review your copayments and your out-of-pocket expense on your plan. You will find that the cost for medical payments cover is well worth it.

What Are the Deductibles?

Another important factor to consider when you compare bike insurance is the deductible amounts. When you invest in full coverage, you have to choose a deductible for comprehensive and a separate deductible for collision. A high deductible means that you will pay more out-of-pocket to fix your vehicle if it is damaged because of an accident, a theft, or a vandalism. Make sure you can afford the deductible you choose or you may have problems getting your bike out of the shop. If the agent has quoted you with $1000 deductibles, ask for a quote with $500 deductibles and see if it costs much more.

You must compare more than just price when you are quoting any type of insurance. If you consider only the price, you may end up facing a claim with no one backing you. If you are ever confused by the options listed, ask the agent what the cover is for and what other limits are available. If you are proactive when you compare bike insurance, you will build the perfect policy that will protect not only your bike, but yourself as well.