The expense of motorcycle insurance is driven by a number of factors starting with the type of coverage, driving record, and age and gender of the driver. However, one factor that also affects the cost of insurance is theft.
How Theft Plays a Role in Motorcycle Insurance?
The theft of motorcycles is a major issue in most cities in the US. There are some reasons why they are such high targets;
- Far easier to steal compared to automobiles
- Lack of number of theft protections compared to automobiles
- Thieves can sell intact for quick profit
- Can be sold as parts for even more profit
This is true especially if the motorcycle has custom or expensive aftermarket parts that are of great value. For thieves, they make for very tempting targets which in turn affects the premiums of motorcycle insurance. If you were to get your bike stolen, your rates would almost certainly go up. It doesn’t help that many motorcycles can now be started by remote which makes them easier to steal.
With a nationwide recovery rate for stolen bikes being just under 40%, this does not compare very favorably to automobiles where the recovery rate is just under 54%.
Anti-Theft Devices Help Lowering Insurance Rates:
The more you protect your motorcycle in ways that are recognized by the insurance company, the more your rates will be lowered. Part of protecting your motorcycle is keeping it in a locked garage at home. So, it becomes less of a target, locking your motorcycle to a stationary object like a streetlight that cannot be moved, and installing alarms that are loud and get people’s attention.
Anti-theft devices are part of this equation as they help to dissuade thieves from taking your bike. Most devices of this type are found in two categories. Those that protect the ignition, so the bike is difficult to start and those that bar movement so that it cannot be rolled away. You will need to check with your insurance company to see which types of anti-theft devices will not only provide protection but get you a discount.
Installing anti-theft devices offer many benefits when it comes to protecting your motorcycle. This is particularly true if you live or work in an area where bike theft is very high.
- Provides Discounts for Insurance for Young Drivers.
- Promotes Better Safety Habits in Protecting Your Motorcycle
- Dissuades Thieves from Taking Your Bike
- Provides Greater Peace of Mind
Avoid Being a Target:
Thieves usually go after the easy targets, so be sure that the locks and other anti-theft devices you use are bright, colorful, and most importantly obvious. You want everyone to know that your bike is going to be difficult to steal, so be sure that your motorcycle has an excellent protection cover. When thieves see that it’s going to be trouble to take your bike, they’ll move to another target.
Using the anti-theft devices as indicated by your insurance company provides you with better protection and discounts on your policy. Be sure to consult with them on how you can save money by using the right devices.