Up until April of 2008, that’s when Massachusetts insurance rates went competitive, riders had to buy a standalone policy. Now that’s no longer the case. It’s a small triumph for riders because it saves time and money.
A separate policy meant separate invoices, a separate billing fee, plus the fact that the owner couldn’t get a multi-car discount for having more than one vehicle on the policy. Your coverage premium can range from just a couple hundred dollars for a “basic” program, to a couple thousand, depending on year, make, and model of the machine. Whether you’re insuring the bike for physical damage (comprehensive and collision) and the operators driving experience are all factors in the final rate.
There are two areas of the policy that can increase the cost of motorcycle insurance dramatically. Your Massachusetts Motorcycle Insurance policy provides coverage for Medical payments. On your auto policy Med Pay is reasonable. You can buy $5000 in protection for about $15.00 a year. Not so with your motorcycle insurance, the same $5000 med pay can cost $150.00 or more per year.
The second area of your plan that can get a bit pricey is part 12, Under-insured motorist. If someone injures you while riding and they have “low” limits, you can protect yourself by purchasing increased underinsured motorist coverage. UM- is expensive when compared to your auto insurance policy. I don’t know why UM is so expensive. But, you can save $$ by lowering part 12. Have your agent explain it, or we can.
I hear from customers everyday…” my neighbor only pays $ X. How come my premium is $ Y?
We want you to be informed. We want you to be protected too. Come by with your neighbor. Tell them to bring their policy with them. We can review it together and make sure you get what you paying for.
For more than “37” years J.M. Doherty Insurance Agency, Inc. “steering you in the right direction”.
Thank you!!
HD
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