I am just like you, a proud Hayabusa owner. Your Busa is your pride and joy, and you want to spend as much time as possible riding it. As Hayabusa owners, we know first hand that finding motorcycle insurance is very expensive, even if you have a clean driving record. To most insurance companies, insuring a Hayabusa is high risk and a liability, so you have to pay high premiums.
Another thing most motorcycle insurance providers are interested in, is your riding experience. I have been through my share of insurance providers, and everyone that I dealt with wanted to know how much experience you have riding. The amount of your motorcycle experience will matter greatly to the provider, even if you have a spotless driving record. Remember, motorcycles are another animal, high risk and a liability. Now, I’m not saying that all motorcycle insurance providers ask this, but everyone that I used did.
On a side note, you have ever driven a dirt bike and if the insurance provider does ask about your riding experience, be sure to mention this. To some insurance companies, driving a dirt bike, does consider as experienced. This will vary from provider to provider, and they may not even consider this anymore.
Moreover, if you don’t have a perfect driving record and/or are inexperienced, you will pay a small fortune insuring your motorcycle. That is why it is essential to finding the best insurance coverage, without burning a hole in your pocket.
Here’s a quick run down of the important coverages:
Liability (BI/PD) – Liability BI/PD covers you if you’re at fault for an accident that injures another person and/or damages someone’s property, up to the limits you select.
Comprehensive – Comprehensive coverage pays for damages caused by anything other than a collision, such as fire, theft or vandalism. With comprehensive coverage, your insurance company will only pay for damages, minus your deductible, and will only cover the book value of the motorcycle. Make sure that you keep your comprehensive coverage, even if you park your motorcycle in your garage. If something happens to your motorcycle, like falls over or gets stolen, your homeowner’s insurance will not cover it, because it is a motorized vehicle.
Collision – Collision coverage pays for damage to your motorcycle if you are involved in an accident. Your insurance will pay for the damages to your motorcycle, up to book value, and minus your deductible.
Medical – Medical covers any medical bills that you may receive from your accident, usually including ambulance, hospital, x-ray, dental, and surgical.
Custom Parts & Equipment – Up to $30,000 of additional accessory coverage can be purchased to cover custom parts that exceed the included value of your motorcycle. If you have a lot of custom parts and accessories, this should be a no-brainer, protect your investment. Make sure you keep all the receipts of your upgrades, some insurance providers want to see proof of the accessory and it’s true replacement value.
Passenger – If you plan on having passengers, I can not stress enough, you MUST have passenger protection. If you get into a accident, they will NOT covered at all. So, do yourself a favor, and protect your passenger.
If you are not sure about the coverages and/or have questions, I’m sure the insurance provider would be more than happy to assist you.
To start shopping for motorcycle insurance couldn’t be any easier. All you have to do is enter your zip code below, and you’ll be given a list of providers in your area. Just click on the providers you wish to get an insurance quotes from, pick the plan that suits you and your budget, compare and start saving. That’s it!
Best of all, there’s no obligation and is completely hassle free. So, you have nothing to lose, and everything to gain.