motorcycle insuranceIf you ride a motorcycle, having insurance is an important investment. It is also required in many states. Motorcycle insurance can be expensive, but fortunately there are some ways to lower your payments.

The deductible is the amount you must pay toward a claim before your insurance company pays. Raising your deductible can lower your premiums, often significantly.

Insurance is intended to pay for major repairs, not minor ones. If you have a small problem with your motorcycle, paying to get it fixed yourself, rather than filing an insurance claim, can help keep your rates down.

Guest passenger liability provides coverage if someone is injured while riding your motorcycle with you. If you ride your bike alone, you don’t need this coverage.

Many insurance companies consider credit scores when deciding on rates for motorcycle insurance. A low credit score could raise your rates more than a speeding ticket, so it is important to keep your score as high as possible.

Motor vehicle departments sometimes make mistakes. An inaccurate ticket, accident, or other violation could raise your motorcycle insurance rates. Check your record to be sure that it contains accurate information.

The amount you pay for insurance will depend in part on the model of bike you have. Insurance companies typically charge more for sport and super sport models of motorcycles.

You should have full coverage for a new motorcycle, but it makes less sense to keep full coverage on an older bike. You can lower your rates by reducing your level of coverage if you have an older vehicle.

Rates can vary widely from one company to another, and a company that offers the best price for one person may not be such a good deal for someone else. Shop around and get quotes from several companies before you purchase a policy.