A motorcycle warranty or contract is like the warranty that your motorcycle would have when purchased new. Renewing a warranty on your new motorcycle can be quite easy, however, you may have purchased your motorcycle used with no warranty. In this case, the best option would be to purchase your own warranty. When you do purchase a new motorcycle warranty, there are a few things you should remember.
There are Lots of Options as to Where You Purchase Your Warranty
The common myth is that you cannot purchase a motorcycle warranty anywhere except for a used motorcycle shop. However this is vastly untrue, there are many companies that offer warranties and most insurance companies that cover bikes will also offer warranties. Buying from a secondary marketer such as a used bike salesman will only lead to a markup in the value of your warranty and you could end up paying more than if you purchased it directly from a company.
Warranties are Not Insurance Policies
You may think that you can save money and purchase a warranty instead of an insurance policy. However, you should know that a motorcycle warranty is not insurance. They are each different things that cover separate area’s on your vehicle. A warranty covers breakdown or faulty parts in most cases while insurance covers a wreck, theft or damage due to natural disasters. As you can see these policies cover vastly different area’s. If you own an old or older bike a warranty can actually save you a great deal of money over time as it pays for trips to the mechanic.
The Sooner You Purchase The Cheaper Your Warranty Will Be
OK, lets face it, the older a bike is, the more likely it is to break down. Purchase your warranty as soon as possible, the less miles and years that your bike has on it is less on the price of your warranty. Once you purchase your warranty the price is set and shouldn’t go up. Be sure to check with your warranty company to be sure that the price is set if you are expecting this.
Read the Fine Print
Not all warranties are the same, not even the ones in the same price range. Be sure to read the details and the fine print of a warranty before deciding on your purchase. You should choose a motorcycle warranty plan that fits your lifestyle and bike. If you will hardly be riding your bike then you can take out a cheap policy that doesn’t do much, however; if you own an expensive motorcycle that you ride constantly, it is only common sense to get the best warranty you can afford.
Chose Your Company Wisely
Some companies offer motorcycle warranties to only a select type of bikes, this allows them to have a better idea of the costs for covering the bike. If a company does not cover your particular model don’t worry and move on to the next.
Saving money on your motorcycle warranty can be an important objective. When searching for your warranty be sure to find any and all companies that will cover your particular bike and ask for an exact quote on the warranty you require! The next step is to simply compare the prices and coverage offered by each company and choosing the one that best fits your budget and coverage needs.