Besides drivers, motorcycle riders also have a right regarding their safety on the road. Therefore, having motor vehicle insurance quotes provided by several insurance companies can be a good choice to help you ride with peace of mind.
In addition to covering damage that occurs to motor vehicles, there are many other benefits that you can get with motorcycle insurance. Curious? Then read on below.
How Does Motor Vehicle Insurance Work?
Motor vehicle insurance, also known as motorcycle insurance, works similarly to car insurance. Yep, this insurance can ensure you get the appropriate protection and coverage if you have an accident on the road.
Motorcycle insurance also works like financial protection covering damage or loss caused by theft, vandalism, or natural disasters. As it turns out, there are several types of coverage that you can get from motor vehicle insurance quotes.
Types of Coverage from Motor Vehicle Insurance Quotes
Before you decide on the best motorcycle vehicle insurance quotes to suit your needs, you may need to know more about the types of coverage you can get from this insurance.
a. Liability
This policy can protect you financially from bodily injury lawsuits and property damage if you and another person are involved in an accident.
b. Collision Coverage
This policy will pay for repairing or replacing your motorcycle in situations where you have an accident with another vehicle.
c. Comprehensive Coverage
Comprehensive coverage, also known as other-than-collision coverage, is a policy that protects your motorcycle from damage caused by theft, vandalism, or fire.
d. Accessories
This next policy is not always available with most motorcycle insurance. Therefore, if you want to protect your motorcycle accessories in an accident or other than an accident, look for a company that provides accessories coverage.
e. Custom Parts
Like accessories coverage, not all insurance companies provide custom motorcycle parts coverage; most only offer coverage for original factory parts. So, you can look for a company that offers custom parts coverage if you want to protect all aspects of your motorcycle.
f. Uninsured Motorist
This policy will protect you and your property if you collide with someone who does not have adequate insurance coverage or no insurance at all.
g. Total Loss
In case your motorcycle is totaled, this policy will cover the total cost of your vehicle, be it by buying a new motorcycle or paying off your motorcycle loan if it is still due. This is optional coverage, with almost all insurance companies offering it.
6 Best Companies Offering Motor Vehicle Insurance Quotes
Once you have figured out the different types of coverage for motor vehicles, it is time to find out the 5 best companies with the best motor vehicle insurance quotes. Check them out!
1. Progressive
Policies from Progressive include accident forgiveness, parts selection, and free accessory coverage.
Progressive offers other add-ons that are not in general industry-wide. For instance, total loss coverage for new motorcycles offers up to $3,000 in coverage for items you carry that other insurance companies don’t offer.
2. Harley Davidson
Harley-Davidson focuses on motorcycle insurance and related products, including parts, bike loans, and planned maintenance insurance. New riders can pair these products and services with discounts on the company’s motorcycle safety courses for additional savings.
In addition to the coverage options above, Harley Davidson offers a wide selection of coverage, such as full replacement cost average in total loss situations, equipment accessor for minor accidents, and rental reimbursement coverage.
3. Foremost
A subsidiary of Farmers Insurance, Foremost provides much of the same coverage but with a better online experience and better terms for its insurance products.
The company has three protection plans, Saver, Plus, and Elite, that can be customized to suit your needs. All three plans include first accident forgiveness and helmets and safety clothing coverage, differing amounts by the plan.
4. Markel
Markel stands out for its accident forgiveness which includes the option to cover losses due to your first mistake after four years of an accident-free program and diminishing deductibles.
The company also offers all the standard motorcycle protection options of most major insurance companies, such as collision, comprehensive and medical payments, and some unique extras.
Additional extras and benefits include agreed value settlements for specialized bikes and coverage for mechanical breakdowns, trailers, and funeral expenses from motorcycle accidents.
5. Nationwide
Nationwide offers some of the highest coverage limits and free annual policy reviews. Other than Progressive, this is the only company that offers $500,000 per person per accident for bodily injury liability and uninsured/underinsured motorist coverage.
Nationwide features a lost or reduced deductible with its collision and comprehensive policies. Your deductible can drop by $100 each year if you go without filing a claim up to a maximum of $500.
6. Geico
Lastly, Geico only broadens motorcycle insurance coverage to cruisers, sport and touring bikes, custom motorcycles, and mopeds. Not to worry, this insurance company offers all the standard coverages plus roadside assistance and accessory coverage.
Motor Vehicle Insurance Costs?
Some online sources claim that the average motorcycle insurance premium in the United States is under $300 per year, while others quote figures above $700 and well above $1,000 for full coverage on comprehensive and collision.
However, the actual cost of motorcycle insurance varies greatly depending on factors such as the level of coverage you choose, your driving record, habits, personal details, and the age and brand of your motorcycle.
How to Get the Best Motor Vehicle Insurance Quotes
Although what is best is up to each individual, there are ways you can do to find the most ideal motorcycle insurance quotes for you. Here’s the way;
- Determine what policies you need.
First, determine what coverage or policies you need to protect your motorcycle. For example, you need accessories coverage, so look for insurance companies that offer this coverage.
- Compare quotes from each company.
With so many insurance companies available, comparing the quotes these companies offer is important. Understanding each company’s quotes can give you a lot of insight to determine which one is the most ideal for you.
- Make sure you choose the right insurance company.
Not all insurance companies are created equal and for everyone. Therefore, it is necessary for you to choose an insurance company that has a policy that is designed for your needs.
Have You Managed to Find the Most Ideal Motor Vehicle Insurance Quotes?
There are so many great advantages that you can get with motor vehicle insurance quotes. For that reason, there is nothing wrong with having this insurance to protect you from various kinds of unwanted things on the road. All in all, hope this review above can be helpful.