Motorcycle riders have various opportunities to reduce their insurance premiums without compromising on the level of coverage they need. Eligibility and availability may vary, so inquire directly with your insurance provider.
Safety Course Discounts
Completing an approved motorcycle safety course makes you a safer rider and leads to savings on your insurance premium. Insurers often view completing such courses as an indication of a responsible rider, potentially reducing the risk of accidents and claims.
Loyalty Discounts
You might be eligible for a discount if you've maintained your motorcycle insurance with the same company for several years. This discount recognizes and rewards your continued business, and the criteria for eligibility can vary between insurers.
Multi-policy Discounts
If you hold more than one insurance policy with the same company, such as auto, home or life insurance, you might qualify for a multi-policy discount. Bundling your policies can simplify your insurance needs and offer significant savings.
Additional Discounts
While the above are some of the more common discounts, other opportunities to save may be available:
- Anti-theft devices—Installing approved anti-theft devices on your motorcycle can not only deter theft but may also lower your insurance premium.
- Membership in riding associations—Some insurance companies offer discounts to members of certain motorcycle clubs or associations.
- Good rider discounts—Maintaining a clean riding record free of accidents and traffic violations can lead to discounts over time.
It's essential to ask about the specific qualifications for each discount, as details and availability vary widely between insurance providers. Regularly reviewing your policy and discussing your options with your insurer can help ensure you're receiving the best possible rate.
Choose Your Motorcycle Coverage Carefully
The types and amounts of motorcycle insurance coverage you choose significantly impact your premiums.
In Texas, motorcycle owners must have insurance that meets at least the minimum liability coverage standards, including bodily injury and property damage liability.
This minimum coverage does not pay for your injuries or damages to your motorcycle. Depending on your needs and circumstances, consider additional coverage options like collision, comprehensive, medical payments or uninsured/underinsured motorist coverage. The lienholder can impose insurance requirements if you finance or lease your motorcycle.
Shoop Insurance in Center, Texas, can guide you through the options to find the savings opportunities that best fit your needs.
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Contact Shoop Insurance today for a quote on motorcycle insurance.
This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.