WEDNESDAY, APRIL 30, 2014
 Your agent gave you a quote for your motorcycle insurance, but do you know where that number came from? Premium calculations account for many factors, causing policies to cost anywhere from pocket change to over $1,000 per year. What are these factors?
- Age: Males under age 25 are statistically the most reckless drivers, while middle-aged married men are statistically the safest.
- Driving record: A driving record marred with tickets and/or accidents can be seen as an extra risk by insurers, causing rates to increase.
- Make and model: The price tag of your specific motorcycle affects insurance rates because of the varying repair/replacement costs.
- Custom accessories: Specialty accessories add to the value of your bike, which can increase your rate because of the higher costs of repair/replacement.
- Location: The location of your home can influence rates because of the risk factor of crime. People who store their bikes in a garage in a low-crime area will pay less, while people who store their bikes outdoors in a high-crime area will likely pay the most.
- Frequency of riding: Year-round motorcyclists may pay more than people who ride their bikes seasonally or only on weekends.
- Weather: Locations that see a lot of natural disasters (tornadoes, hailstorms etc.) may cause rates to rise because of the increased risk of damage.
- Additional coverage: While you're required to buy liability insurance, you may also wish to buy a policy that covers your own expenses. Ask about collision, comprehensive and uninsured/underinsured motorist coverage.
- Bundling: Bundle your motorcycle coverage with your other policies, such as a home, auto and motorcycle insurance. You can combine virtually any insurance policy to save money across the board.
- Pay annually: A single yearly payment costs less for insurers to process than monthly payments and those savings can be passed on to you. If the lump sum is too much of a strain, try biannual or quarterly payments instead.
- Discounts: Many people qualify for coverage discounts, such as new customer incentive, customer loyalty or safe driver. Ask your agent about savings today.
Coverage isn't just the law, it's also vital for your financial security. Call Low Rate Insurance Agency at (817) 469-7283 for more information on Arlington motorcycle insurance.
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