So you just purchased that new Kawasaki Ninja ZX-14 sportbike and during the motorcycle financing process the dealership told you that motorcycle insurance is not a requirement for you to finance your motorcycle purchase. This is correct; many motorcycle lenders these days are not requiring insurance in order for you to get a motorcycle loan with them.
While this may sound like a great thing for you, it does not alleviate you from getting the minimum insurance coverage on your motorcycle purchase. State laws require you to get motorcycle insurance in order to operate your motorcycle on the street.
So where is the best place to purchase motorcycle insurance? Here are four options:
1. Geico Motorcycle Insurance - You can get a free quote online. Also carries ATV insurance and has article on motorcycle safety tips.
2. Bikeline – Operated by Markel American Insurance Company, Bikeline has been providing motorcycle insurance for over 30 years. The nice thing about Bikeline is that motorcycle insurance is their main line of business
3. Nationwide Insurance – If you are an AMA member you can receive a 10% discount by getting your motorcycle insurance through Nationwide. Also offers ATV insurance, snowmobile insurance and segway insurance.
4. Progressive Insurance - Carries motorcycle insurance as well as insurance for ATVs and PWCs. Currently has a cool feature where you can compare rates against other motorcycle insurance providers.
Sometimes you can beat quotes from these four national providers by looking for insurance companies in your geographical area that seem to have a brand in the community. For example, State Farm is big in many areas and AAA may also get you the best quote if you are a member. But one thing is sure it is always better to spend some time shopping for motorcycle insurance because quoted rates can vary quite drastically between insurance companies.
For more information visit motorcycle insurance.
Posted by Administrator in Insurance