Does Type of Motorcycle Matter When Selecting Insurance?

Whether you are considering purchasing a new motorcycle or looking at all of your options in motorcycle coverage, one thing is for certain. The bike you have does matter. Motorcycle insurance providers offer a wide range of coverage options, all of which focus on the actual value of the bike as well as the risks associated with it. When you request a quote for insurance, be sure to specify what type of bike you have because that will play a role in the overall cost you pay.

Purchasing motorcycle insurance requires creating a policy that meets your specific needs. That means the insurance policy should be customized to your bike, your risks and your use. Only then can it be the right fit for your needs. Various factors and differences play a role in this customization process.

• The value of your bike is one of the most important factors. Your bike's value includes how much it is worth, but also factors in concerns related to how hard it is to find new parts for it.
  
  
• The speed and engine size play a role as well. The faster or more powerful the bike is, the riskier it is to the insurance company because you can operate it at a higher threshold.
  
  
• The features on the bike play a role as well. Features that increase the risk factor tend to add cost to coverage.
  
  
• How the bike is used also plays a role. If the bike is not street-legal, for example, it is less likely to be involved in an accident with other vehicles. You may not need to maintain state required insurance on some of these bikes.

Whether you have a trike, scooter, a classic motorcycle or even a collector's bike, the details do play a role in the type of motorcycle insurance you purchase. Motocross, dirt bikes and mopeds are additional examples. When it comes time to choose the right motorcycle insurance for your bike, be sure it is customized to fit your specific needs to properly protect you from loss and to minimize overall out-of-pocket risks.