Get The Answers You Need About Pay Per Mile Motorcycle Insurance Policies

26 October 2021
 Categories: Insurance, Blog

In recent years, the popularity of pay-per-mile motorcycle insurance policies has grown. However, there are still many motorcycle owners who are not quite sure how these policies work or what benefits they can expect to enjoy when switching to a pay-per-mile policy. If you have found yourself asking these same questions, taking the time to review the answers to some of the most frequently asked questions outlined below can help you to get the answers you need to decide for yourself if a pay-per-mile motorcycle insurance policy is right for you. 

What Is A Pay Per Mile Motorcycle Insurance Policy?

The way a pay-per-mile motorcycle insurance policy works is quite simple. These policies require you to pay a low base rate for your insurance coverage each month. This base rate will be much lower than the premiums you are used to paying for traditional motorcycle insurance. You are then charged a predetermined amount for each mile that you drive during the coverage period. This fee structure is therefore ideal for individuals who do not use their motorcycle as their daily vehicle or who only commute short distances.

How Does The Insurance Company Know How Many Miles You Drive?

The process of submitting your mileage is quite easy. In most cases, you will simply be required to submit your current mileage either via phone or online. While some insurance providers will only require a photo of your odometer once every few months, others will ask that you submit a photo of your odometer each month to verify your current mileage.

Do Pay Per Mile Policies Offer Lay-Ups For The Off-Season?

Pay-per-mile motorcycle policies do not typically offer the option of a lay-up. However, the exclusion of this traditional insurance option is one of the most beneficial aspects of choosing a pay-per-mile policy. This is because there is no need for a lay-up when you are only paying for insurance coverage for the time you spend on the road. If you choose not to ride your motorcycle all month long, you will only pay the low base rate associated with your policy. This provides you with the same ability to save money on insurance as a lay-up does but also provides you with the option of taking your bike out for a ride if you so choose.

What Coverage Options Are Included In A Pay Per Mile Policy?

The coverage options that are included in a pay-per-mile motorcycle insurance policy will vary from person to person. This is because just like traditional motorcycle insurance policies, you can opt-in or out of a variety of different coverage options to build a custom policy that best meets your specific needs. 

For more information, contact a local insurance provider, like Quote Buy Ride.