How Does Pay Per Mile Motorcycle Insurance Work?

Juliet D'cruz

Updated on:

How Does Pay Per Mile Motorcycle Insurance Work

For many, riding a bike is a liberating experience. The wind on your face as you sweep past the vast expanses of scenic landscape—that is what a biker’s dreams are made of. Or, if you ride your bike for a daily commute, then you know your two-wheeler as the trusted companion that will let you past the rush hour traffic jams so that you are never late at work or to get back home. So, how do you ensure you do your best for your bike?

Show how much you love and care for your bike by investing in a robust bike insurance policy. Besides being mandatory for all bike owners, motor insurance covers your two-wheeler against third-party liabilities and own damage depending on the insurance type. Most insurance policies come at a fixed premium based on factors such as the brand, model and make of the bike, rider profile, and coverage needs. But did you know that you could choose to pay the premium amount based on your bike use? Yes, you read it right.

With pay per mile motorcycle insurance, you only pay for the miles you ride. Today, we will look at pay per mile bike insurance in detail and see how it works, the benefits, and whether it is the right choice for you or not.

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What is pay per mile motorcycle insurance and how does it work? 

Also known as usage-based insurance, pay per mile insurance calculates your premium based on how many miles you ride. To avail of this type of insurance, you install a device such as a GPS tracker on your motorcycle to measure your mileage. Your motor insurance premium is then calculated based on the miles you ride your bike.

Getting pay per mile motorcycle insurance is pretty straightforward. You start by providing your insurance company with basic information about you and your motorcycle. Once your profile is approved for insurance, the insurance company will give you a GPS device to install on your motorcycle. Get the device installed on your bike and you are ready to use insurance services based on the distance your bike travels every policy term. The premium you pay is calculated based on the miles you ride.

The device tracks your mileage and transmits the information to your insurance company. Your insurance provider will use this information to calculate your monthly premium. Therefore, the more you ride your bike, the higher the premium amount and vice versa.

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Benefits of pay per mile motorcycle insurance

Pay per mile bike insurance allows you to pay the insurance premium amount based on your bike usage. This way, you do not have to pay a high premium for a bike that is rarely used or is not prone to mishaps and losses.

  1. Lower premiums: One of the biggest benefits of pay per mile insurance is that it can bring down your insurance premium amount. It means, if you do not ride your bike much, your premium will be lower. This can be especially beneficial for riders who only use their motorcycle occasionally.
  2. More accurate premiums: Standard bike insurance premium is based on various factors such as your age, driving record, and the type of motorcycle you ride. However, pay per mile insurance premium is based solely on how much you ride. This can result in a more accurate premium reflecting your actual risk.
  3. Flexibility: Pay per mile insurance offers more flexibility than standard bike insurance. If you do not ride much, your premium will be lower, and if you ride more, your premium will be higher. This allows you to adjust your coverage based on your riding habits.
  4. Convenience: Pay per mile insurance is more convenient than standard bike insurance. The GPS device tracks your mileage automatically, so you do not have to keep track of it manually. And, if you change your riding habits, your insurance company can adjust your premium accordingly.

Final word

Pay per mile motorcycle insurance is a great option for riders who do not ride much and want to save money on their insurance premium. It is also a good option for riders who change their riding habits regularly and want more flexibility in their coverage. 

Consider getting pay per mile insurance if you do not put many miles on your bike. It will let you enjoy better flexibility at an affordable price. With pay per mile insurance, you only pay for what you use and can save money on your monthly premium. So, whether you are an occasional rider or use your bike for short trips, pay per mile insurance is worth considering. When buying bike insurance, research, and compare policies and quotes from different providers, and choose a plan that meets your needs and budget.