Because Harley Davidson Motorcycles tend to be the upper end of bikes, they are obviously more expensive. And for this reason, they are more expensive to insure. Luckily for riders, the Harley Davidson name is big enough to carry some leverage. Groups, clubs and organizations are formed and subsequently insurance companies vie for the opportunity to service their members. Often times, this allows the Harley rider to benefit from discounts.
Further, buying a Harley Davidson motorcycle puts the owner in an enviable position as Harley Davidson USA provides bike insurance. This is a unique concept totally benefiting the insured since the representatives of Harley-Davidson Insurance Services are usually H-D owners themselves. Everything is specific to the Harley Davidson motorcycle. Generic insurance companies do not necessarily offer the same coverage as H-D since they are not totally familiar with the custom aspects of the motorcycle. Even the H-D MotorClothes apparel might be eligible for insurance.
While H-D riders are large in numbers and tend to be more mature individuals, which would lead one to think that insurance should be cheaper, there are several points that impact the cost of Harley Davidson motorcycle insurance.
- H-D motorcycles are hugely appealing to thieves so many bikes are stolen and stripped of their parts. Very few are recovered when the thieves remove the identification from the bikes.
- Because of the bike's higher purchase price, the owner may be more inclined to lodge a claim than if the bike was less expensive.
- The high initial price tag means the motorbikes are more expensive to repair.
- Some Harleys are considered classics since the company has been producing motorbikes for over one hundred years and many models are no longer in production.
- Many owners finance their Harley Davidson purchases and as a result the lender will require comprehensive on the insurance policy causing the premium to be higher.
- Accessories and customization will affect the Harley Davidson insurance premium. The more “add-ons", the higher the insurance premium.
- Since there is no official blue book (like with cars), H-D values are sometimes arbitrary with insurance companies. This means that “Agreed Upon Values" can be significantly higher or lower depending on the insurer.
- Some companies offer roadside assistance free while others charge.
- Extra insurance will be required to cover bodily injury and replacement of the Harley if the motorcycle driver is hit by an uninsured or underinsured motorist.
- Unlike cars where everyone in the car is covered by the insurance policy, Harley Davidson motorcycle insurance will include added costs associated with passenger coverage.
In summary, before purchasing a Harley Davidson motorcycle, it is probably worthwhile to inquire about insurance in order to determine what you can afford.
Rudy Van Lancker is a consultant helping wealthy clients with in-depth advice on various topics including motorcycle insurance He is also a big Harley-Davidson fan who regularly blogs about both subjects.