The Benefits of an Annual Motorcycle Insurance Review

Many only think about motorcycle insurance when they buy a new bike. However, there is an advantage to working with your agent at Armorcrest Insurance Services in El Centro, CA once each year to double check that you have adequate coverage.

Things to consider are:

  • Changes in Replacement Value – Most motorcycles go down in value over time, except for the ones that are kept as collector´s items. Collector motorcycles can go up significantly in value each year. Motorcycle insurance coverage should be adjusted up or down to reflect any changes in replacement value.
  • Moving to a New Location – Insurance rates reflect the experience of insurance underwriters in the place where you live and work (if you use your motorcycle to commute to your job). It is important to inform your insurance agent if you are planning a move because it can change your rates, and you want to be sure you are properly covered in your new home.
  • How Secure the Bike is Stored – Storing a motorcycle inside a locked garage with security cameras and alarms is obviously safer than leaving it parked outside. Tell your agent if you plan to change how your motorcycle is stored.
  • Custom Equipment – Many bike riders enjoy improving their motorcycles with custom equipment. Additional equipment raises the value of the motorcycle and you need additional coverage to keep up with its increasing value.
  • Proper Maintenance and No Accidents – Keeping your bike properly maintained to avoid accidents is a responsible idea. An insurance review should be part of regular annual maintenance.
  • Security and Anti-Theft Tracking – If you add an alarm system or anti-theft tracking that uses GPS to find a stolen bike, it may help improve your rates. Ask your agent to be sure.
  • Additional Riders/Users – Casual use by an occasional rider is not usually much of a concern unless they are very young; however, if you plan to allow another person to use your bike frequently, it is best to either have them added to your motorcycle insurance policy or have them get a policy of their own. Work with your agent to receive advice about your specific circumstances.

Contact Armorcrest Insurance Services in El Centro, CA if you need new motorcycle insurance or if it is time for an annual review of coverage. We are specialists in providing the coverage that you need.