Motorcycle owners who aren’t ready to give up their vehicles over the price of insurance premiums are coming up with some effective ways to save money and yet still maintain the level of coverage that they need. The first step is to make certain that the opportunity for theft or vandalizing of the motorcycle is reduced. When you buy a bike, make sure that you have a place to store it. Since they don’t require that much space, a small portion of your garage, or even a shed will usually…
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New dirt bike law may decrease recreational vehicle insurance rates
President Obama has signed a law that is designed to bring some relief to Americans who are affected by a product safety law that was enacted in 2008 in order to prevent children from obtaining toys containing lead. The law went into effect in 2011 and risked prohibiting the sale of four-wheelers and dirt bikes meant for children aged 12 and younger. Businesses selling these recreational vehicles, and the families who purchase those vehicles from them, asked the federal government for assistance in overcoming this struggle. Congress passed House Resolution…
Read MoreUnderstanding what is required from motorcycle insurance
The Motorcycle Industry Council’s data indicates that more than half – 55 percent – of all motorcycle riders were aged 40 or higher as of 2008, and this has changed the landscape of motorcycle insurance. In 1990 – a mere eight years earlier – only one-quarter of all motorcycle riders were in that same age bracket. These drivers are no longer people who are young and feel that they are invincible. Instead, the average motorcycle rider typically has a minimum of some college education, with a great deal more in…
Read MoreMotorcyclists hope for lower insurance rates
The Knesset recently passed the initial reading of a bill. If passed, it could mean lower motorcycle insurance rates. The government will create an inter-ministerial committee to devise a solution for dropping compulsory insurance rates. A decision is expected within 3 months. Should this bill pass, motorcyclists’ compulsory insurance pool will change. Currently, insurance companies do not profit from compulsory insurance for motorcyclists. For most riders they are covered by a state-mandated pool which currently runs at a deficit. It also has a cap, mandated by law, of 8%. The…
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