The Critical Differences Between Auto Insurance and Motorcycle Insurance
Drivers who are cleared to drive both vehicles and motorcycles may be unclear as to whether they need automobile insurance or motorcycle insurance. In fact, automobile insurance and motorcycle insurance are two extremely different products, and individuals with both cars and bikes will need to have both. It shouldn't be assumed that your motorcycle insurance will operate similarly to your auto insurance or vice versa.
Motorcycle Insurance Often Deals with Custom Products
Most cars are usually purchased from a dealership and not modified significantly. Motorcycles, on the other hand, are often highly customized. Many individuals work on their own bikes or purchase custom bikes that have been built for them. Consequently, motorcycle insurance can range more significantly than automobile insurance, even with similar bike types. The insurance companies also need to be updated any time anything significant on the bike changes, and the insurance company needs to be aware of the specifics of the build.
Motorcycle Insurance Can Be Adjusted
Many individuals who have motorcycles aren't using them as a primary vehicle. In this situation, the motorcyclist can purchase coverage that only covers certain times, such as weekends. This drastically reduces their premiums, but it also means that they may not be covered outside of these times; if an incident does occur during the week day or if they are shown to be riding their bike more often than they projected, there could be coverage issues later on. Adjusted coverage can also cover only specific seasons, which is useful in areas where the winters are too harsh to ride.
Motorcycle Insurance Covers More Than Just Motorcycles
Motorcycle insurance is technically designed for any motorized two-wheel vehicle. Consequently, there are smaller vehicles that may look like cars but may actually be governed by motorcycle laws, especially if they are particularly lightweight. Motorcycle insurance may also cover mopeds and other motorized bikes. For mopeds and motorized bikes, motorcycle insurance may not be required—depending on area an where the vehicle is being driven—but it can still be an option for those who are concerned about potential accidents and theft.
Many motorcycle policies can be rolled into an auto-insurance policy for savings. If you're interested in reducing your premiums, you can inquire with your current insurance company. In general, motorcycle insurance tends to be more tailored towards the individual and can change drastically depending on circumstances. Motorcycle insurance is often more expensive than car insurance because of the larger inherent risk.
Talk to companies like Northeast Insurance Agency for more information on motorcycle insurance.