Motorcycles are a fun and economical alternative to cars, as well as great recreation. They also represent a significant monetary investment, and should be protected with insurance. By law you must have liability insurance to protect others in the event of an accident. But in order to protect yourself, you should also have insurance against collisions, theft, and other damage your bike may receive. There are several things you can do in order to find the right insurance for your bike at the most affordable price.

Shop Around

If you go with the first quote you get, you are almost certain to be missing a better rate somewhere. It may take some time, but if it gets you lower insurance rates, researching and finding the best deal will be well worth it. You can also try looking online—many insurance companies will give you their quotes, in real time, along with rates from other major providers. Write down the information from anything that looks promising and call the provider. However, don’t forget to get everything in writing. An agent may offer you a deal or mention something on the phone, but unless it’s on paper, it doesn’t mean anything. You do not want any unpleasant surprises when you get your bill.

Motorcycle Insurance Discounts

Motorcycle owners are often eligible for certain discounts. For instance, older riders with a safe vehicle driving record can sometimes obtain lower premiums. In some cases, insurance companies will offer discounts for defensive riding courses and training programs. Other factors also affect the cost of a policy include the following:

• You may be able to add motorcycle coverage to existing homeowner and vehicle insurance policies.

• Consider safety features at the time of purchase as opposed to specialty add-ons that improve the looks of a bike. In most cases, insurers will only cover factory equipment under comprehensive or collision policy components.

• Choose familiar manufacturers as opposed to lesser-known brands. An insurance company will give lower rates on motorcycles with easy-to-replace parts.

• Increase your motorcycle’s anti-theft safety (by using locks, keeping it in a garage, or other methods that you can prove to an insurance agent)

• In northern regions, riders can often reduce a policy's premium with a "lay up." This means parts of the policy are not in effect during winter.

• Sometimes, you can take advantage of group discounts if you're a member of a regional, statewide, or national motorcycle organization.

The Value of Your Bike

Don’t pay for more coverage than you need. No matter how much you pay for insurance, you will not get more than your bike is worth if it is stolen or damaged. So, only pay for the amount you would get in the event of an accident. When calculating this, keep in mind depreciation, but also the added value of any improvements or customization you have done on your motorcycle. Also, take pictures and videos to document the worth and condition of your bike in case you ever need proof.

Motorcycle Safety

Finally, and most obviously, learn to ride your motorcycle safely. Not only will this help you avoid accidents, it will improve your driving record and your insurance rates won’t rise—they may even go down. Although you have to purchase insurance, it’s best if you never have to use it.