If you only ride your motorcycle on weekends and store it during winter in Asheville, NC, you may wonder how to save money on your premiums. Switching to a pay-per-mile policy may make sense. Asheville Insurance Center can help you find an appropriate policy that meets your needs.
How Pay-Per-Mile Works
Switching from a traditional flat-rate policy to a usage-based one can slash insurance premiums by as much as 50% to 60%. Usage-based insurance splits your bill into two distinct parts: a flat monthly rate and a per-mile rate. The first part keeps your bike fully protected against non-driving risks, such as theft, fire, vandalism, or garage mishaps, while it’s parked. The per-mile rate is a variable fee, based on your age, driving record, and bike type. Per-mile rates only apply when you’re actively on the road.
Unlike pay-per-mile car insurance, which often requires a tracking device or phone app that monitors your speed, braking, and location, major pay-per-mile motorcycle providers generally do not track your location. Instead, you snap a photo of your odometer via an app a few times a year.
Does Usage-Based Insurance Fit Your Riding Style?
If you only ride 2,000 miles or fewer per year, you are an ideal candidate for pay-per-mile insurance. You can save substantially on premiums if you only ride 150 miles per month during the riding season and none in the winter. Riders who put on 2,000 to 3,500 miles per year will see mixed results. Evaluate policies and your riding habits carefully before committing to a policy. Cyclists with higher mileage should stick with a traditional policy.
Learn how to save money on your motorcycle insurance by consulting the experts at Asheville Insurance Center. Contact our Asheville, NC, office today to get started on a new policy.
