With the rising cost of higher education, college students are always looking for ways to save money. One great way to save money while enjoying the freedom of the open road is to own a motorcycle. However, with the excitement of motorcycle ownership comes the responsibility of insurance coverage. As a college student, you want to make sure that you are adequately covered but also not paying an arm and a leg for your premiums. In this article, we will explore the best ways to find cheap motorcycle insurance for college students.
Shop around for the best rates
The first and most important step in finding cheap motorcycle insurance is to shop around. Every insurance company has different rates and coverage options, so it's important to compare multiple companies in order to find the best deal. Start by researching and comparing rates online. You can use websites like NerdWallet, Insurify, and The Zebra to compare rates from multiple insurance companies at once. Additionally, you can reach out to individual insurance companies and request a quote. Be sure to compare the coverage options as well as the rates. Cheaper rates may mean less coverage, so make sure you are comparing apples to apples.
Consider a higher deductible
Another way to save money on motorcycle insurance is to opt for a higher deductible. A deductible is the amount you pay out of pocket before insurance coverage kicks in. The higher your deductible, the lower your premium. Keep in mind that if you do choose a higher deductible, you will be responsible for paying more out of pocket in the event of an accident.
Take a motorcycle safety course
Many insurance companies offer discounts for completing a motorcycle safety course. These courses teach you how to ride safely and can reduce your risk of being involved in an accident. Not only will taking a safety course make you a safer rider, but it can also save you money on your insurance premiums.
Bundle your insurance policies
If you already have a car or renters insurance policy, consider bundling your motorcycle insurance with your existing policy. Many insurance companies offer discounts for bundling your policies together. This can be a great way to save money on your overall insurance costs.
Choose a less expensive motorcycle
Finally, one of the easiest ways to save money on motorcycle insurance is to choose a less expensive motorcycle. Sports bikes and high-performance motorcycles typically have higher insurance premiums due to their increased risk of accidents. Opting for a more basic motorcycle can help keep your insurance premiums low.
In conclusion, finding cheap motorcycle insurance as a college student is definitely possible. By shopping around for the best rates, considering a higher deductible, taking a safety course, bundling your policies, and choosing a less expensive motorcycle, you can save money on your insurance premiums while still enjoying the freedom of the open road.
