You can buy custom built motorcycle insurance from almost any major car insurance and motorcycle insurance provider. Motorcycle insurance can be purchased through an agent via brick and mortar locations, or online.
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While custom built motorcycle insurance can be expensive, there are ways to keep your costs down by shopping around for the best deal. When insuring a custom built motorcycle you need to have adequate coverage for liability, collision, comprehensive, and accessories.
Motorcycle insurance is just as important as any other motor vehicle insurance. You need to buy liability insurance as per the state’s requirements, and you also need financial protection for your motorcycle. It is also a good idea to consider buying medical to add to your motorcycle insurance policy.
Whomever you buy custom built motorcycle insurance from should be able to provide you with all of your insurance needs. If you are unable to get a certain component, such as accessories coverage, then seek insurance elsewhere so that you can save money by having all of your motorcycle insurance needs under one policy.
Adequate Coverage for Custom Built Motorcycle Insurance
There are several components to motorcycle insurance that you need to consider before buying your policy:
- Liability- The first part concerns bodily injury liability and property damage liability, which is required by law in every state. While each state sets a minimum amount required, it is always a good idea to consider buying more coverage to protect your financial assets if you are ever at fault for an accident and cause injury or damage to another party.
- Uninsured/underinsured motorist- Not everybody buys more liability insurance than the state requires, so you may want to add underinsured motorist insurance coverage to your policy to help cover the gap in insurance. Also, since some people break the law outright and do not carry any insurance, uninsured motorist coverage can also be added to your policy.
- Collision and comprehensive- In order to provide financial protection for damages to your own motorcycle, you need to carry collision and comprehensive insurance. This type of insurance will give you physical damage protection whether you are involved in an accident or your motorcycle gets vandalized or stolen.
- Medical- Since riding a motorcycle is considered great risk, it is also worthwhile to consider getting medical coverage. If you have health insurance then you may not need additional medical protection, but should you become injured in an accident you may require hospitalization so having insurance to help pay for your medical bills could be very beneficial. Personal insurance protection is common.
- Accessories- Your custom parts and equipment as well as your accessories are also an expensive part of your custom built motorcycle. Most insurance providers who offer motorcycle insurance also offer accessories coverage so that your chrome pieces, your sidecars, your CB radio, and even your helmet are covered for various incidents.
Reducing Costs of Custom Built Motorcycle Insurance
Once you add all of the different types of coverage to your custom built motorcycle insurance policy you may feel overwhelmed at the cost of your insurance. However, there are ways to reduce your insurance costs without sacrificing benefits.
- The first way to save money on your motorcycle insurance is to take advantage of multiple policy discounts. If you have more than one motorcycle, if you have a car, or if you have a house, you can save money by putting all of your insurance policies with the same insurance company.
- You may also be able to save money on your motorcycle insurance by storing it in a secured garage or shed.
- If you don’t plan on using your custom built motorcycle during certain times of the year, such as winter, you may be able to suspend coverage on liability and collision to reduce your costs. When you buy Lay Up Insurance, you typically continue to pay for comprehensive insurance in case some type of non-collision damage, such as fire or a collapsed roof, occurs to your motorcycle while it is in storage.
Buying Custom Built Motorcycle Insurance
Before you buy custom built motorcycle insurance you need to do some shopping to get the best coverage for the best price. While you can buy motorcycle insurance from a brick and mortar insurance agent, the most convenient way to shop for insurance is online. You can compare different companies and get quotes for free all from the comfort of your home.
Review the financial rating of different insurance companies to make sure they are financially sound to pay claims. Read customer reviews to see how your peers feel about the insurance company’s claims handling process, customer service, and any other comments both positive and negative. With information about how each insurance company is viewed, compare rates to see who can provide you with the best overall value.
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