The Peculiarities of Insurance for Owners of Motorcycles/Scooters
Owners of motorcycles and scooters become participants in serious accidents much more often than car owners. Recovery of a vehicle after such an incident requires significant financial costs, comparable to the cost of a new motorcycle or scooter. How do these circumstances affect the price of the insurance for a two-wheeled vehicle? Find this out in this article!
Not every motorcycle and motor scooter owner can immediately find a large sum, therefore, refurbishment after an accident is often delayed. So it is a good idea to get a go auto insurance app to be on the safe side.
How Much Will the Insurance Cost?
So, how much does the insurance on a motorcycle cost? Its owner should be ready to pay about 10-15 % of the market value of his/her vehicle. Of course, in each case, the underwriters of the insurer can reduce or increase the tariff but on average motorcycle insurance costs just that amount. The insurance company may include additional insurance terms in the contract. Usually, there are the following restrictions on the validity of insurance:
- Mandatory franchise.
- Night storage of a motorcycle in the garage.
The policyholder may refuse to include young and inexperienced citizens in the list of drivers. It is unlikely that the insurer would agree that the motorcycle was driven by an eighteen-year-old driver, because in most cases such citizens do not have driving experience. In addition, young people are characterized by impulsiveness, which increases the risk of a traffic accident.
Insurance companies prefer to deal with new motorcycles. In rare cases, you can draw up a contract of insurance for used vehicles, however, the insurer will certainly include a large deductible in the CASCO contract.
Things to Keep in Mind When Signing the Contract
If you still manage to find a suitable insurance company, you should be extremely careful about the process of registration of the contract. The motorcycle owner needs to re-read the insurance rules and review the completed policy. This is the only way to get comprehensive information on all the nuances of the loss settlement procedure.
It is likely that the rules of a particular company contain unacceptable conditions for insuring motorcycles, for example, refusal to pay for damaged tires or rims. Special attention should be paid to the motocycle insurance requirements, the order of actions of the insured in the hijacking. The motorcycle owner should know exactly what to do in this situation.
Do not forget about the increased injury in the operation of this type of transport. Most often, the standard policy can include accident insurance. This is quite convenient because the owner of the motorcycle will not have to enter into a separate life and health insurance contract. Check the full list of motorcycle insurance coverage options.