6 Key Factors that Affect Motorcycle Insurance Rates

Your motorcycle is what you really look forward after the winter. From the speed to the sound to the sheer power, you cannot wait to get out on the open road. One thing you may find yourself not enjoying so much is the insurance premium.

Motorcycle insurance, however, does not have to be a budget-buster. By understanding what items impact your insurance premiums, you can ensure you are not paying more than necessary.

6 Key Factors that Affect Motorcycle Insurance in Nova Scotia

  1. Type of Bike - Depending on the type of bike you have, you may pay more or less in insurance. That is because certain types of bikes are considered more danger-prone and the newer the bike, the more expensive it is to replace.
  2. Engine - The size of your engine, which is measured in cubic centimeters (CCs), also affects your Nova Scotia insurance rates. The more powerful an engine is, the higher the liability for speeding and accidents.
  3. Certifications - Taking a course through the Motorcycle Safety Foundation may lower your premium.
  4. Non-Factory Upgrades - Additions you make to your bike will likely add to its value; which in turn increases repair and replacement value. So, expect to pay more for upgrades that are purely aesthetic. On the other hand, safety upgrades may actually decrease your premium.
  5. Your Age - Age plays a role in Halifax insurance rates for vehicles and motorcycles alike.
  6. Driving Record - Driving records still play a role in motorcycle insurance rates. Previous accidents on your bike, traffic tickets and other traffic violations (while riding a motorcycle) may increase your premiums.
The best way to ensure that you are not overpaying for your insurance, is to work through an experienced motorcycle insurance broker. The broker will compare insurance companies, rates and help you overcome the factors that are increasing your premium.

Speak with an insurance agent at Eisenhauer Insurance today about your current motorcycle insurance premiums or to get new insurance quotes in Nova Scotia. Call us at 902-454-5888 to get started.

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