How To Buy Motorcycle Insurance Philippines

When you buy a motorcycle in the Philippines, it is imperative that you insure it before you start using it on the road. Safety should be the top priority when operating your motorcycle. So, before you take your ride out for a spin, it is very crucial to make sure that you have the right kind of motorcycle insurance Philippines to protect you and your wheels. It is also important to understand every aspect of your policy and how it affects you as well as your motorcycle in case you need to file a claim.

There are various important questions you need to ask your insurance provider or broker when purchasing a motorcycle insurance policy. One of them is about the cash value of your motorcycle and how it is determined. It is very important to know the actual value of the motorcycle that you are about to insure. If your motorcycle is damaged in an accident, stolen, or vandalized, its value has a lot to do with the amount of money you may get as compensation. You also do not want to over-insure the bike relative to its value. You should ask insurance provider how the cash value is calculated and if you have a disagreement, it is best to get that straightened out before signing anything.

Another question you need to ask when looking to buy motorcycle insurance in the Philippines is how your motorcycle is classified. There are certain motorcycles that are considered sport bikes and are subject to higher insurance rates compared to the normal motorcycles. The sport bikes are designed for high performance and are sometimes driven at higher speeds, and for that reason they are statistically more susceptible to crashes. This drives up the cost of insurance premiums for them.

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