When looking for your motorcycle insurance it's a good idea to know which company is writing your insurance policy. If you are going through a broker you will not know the company they are using when quoting their rates... if you ask them you will find they more than likely will never tell you, until the deal is done. So, how will you know who you are signing up with for this great rate? And if there are problems with the motorcycle insurance company they have signed you up with you can end up with No Policy and No Refund!
Let me tell you a little story about Farmer Brown...
Motorcycle Insurance & Motorcycle Rallies - When Farmer Brown bought his 2005 Wing, he got cheap motorcycle insurance through a broker and because it "saved him a bundle" he was happy and he did not care who the company was. Farmer Brown did not read his new policy, since he was so pleased with the money he saved and he did not know or care who gave him those fine rates. Farmer Brown would rather ride than read. But, there was a problem.
A serious limitation in his motorcycle insurance policy is causing Farmer Brown to change companies, eventually. You see, he participates in Rallies and does Iron Butt rides. His liability motorcycle insurance is no good if he goes over 500 miles in 24 hours in a rally. And Farmer Brown goes well over 500 miles, so he thought he would buy a waiver from his motorcycle insurance company for the additional coverage he needed. Nope. His broker told him that the motorcycle insurance company said his policy only applies to competition, not touring.
Farmer Brown wants touring, so that's that. They do not offer it. Now Farmer Brown has to start all over and look for another company that will provide him with the policy that fits his every need or would have provided the waiver for the extra coverage he needed. AND there was no way to get a refund for the motorcycle insurance he just bought.
Farmer Brown wants to have fun riding in his Rallies and Iron Butt rides, but no. He is stuck with the policy he bought. If he tours in the Rallies he will have NO coverage for his fun times riding and therefore risk "loosing a bundle". Farmer Brown has to wait until next year to have fun in his Iron Butt rides. Bummer.
Since most often a motorcycle insurance policy is purchased from a broker and not directly from the motorcycle insurance company, there can be problems with the company (underwriter) and you can end up with no policy and no refund! Farmer Brown ended up with no refund and no fun, but at least he does have a policy. Be sure the broker explains the entire process of how it all works with you before racing down this road to get your motorcycle insurance.
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