Motorcycle Insurance Cost: Vanishing Deductibles

Most motorcycle insurance policies have deductibles on their collision coverage and comprehensive coverage. But several motorcycle insurance companies offer a vanishing or disappearing deductible benefit, which means that you could eventually pay nothing in the event of a claim.

Below is general information about how the vanishing deductible works and a list of motorcycle insurance companies that offer this feature.

What Is A Deductible On Motorcycle Insurance
A deductible on your motorcycle insurance policy is the amount that you pay, before your insurance kicks in. With most insurance policies, you’re able to choose the amount of your deductible.

What Is A Vanishing Deductible On Motorcycle Insurance
With a disappearing deductible, your motorcycle insurance company reduces your initial deductible for each year that you don’t file a claim – essentially rewarding you for safe riding and no claims. The amount that the deductible decreases (and the maximum reduction allowed) varies from insurer to insurer. With some companies, your deductible can eventually decrease to $0, in which case you wouldn’t need to pay a deductible at all.

After You File An Insurance Claim
After you file an insurance claim, your disappearing deductible might be reset to the original amount of your deductible.

Motorcycle Insurance Companies That Offer Vanishing Deductibles
Some of the top motorcycle insurance companies in the U.S. offer a vanishing deductible or disappearing deductible option.

Nationwide Motorcycle Insurance
Nationwide Insurance has a vanishing deductible that lowers your deductible by $100 for each claim-free year, up to a maximum reduction of $500.

Progressive Motorcycle Insurance
Progressive Insurance has a vanishing deductible that subtracts 25% from your total deductible for each year that you’re claim-free and without traffic violations.

American Family Motorcycle Insurance
American Family Insurance has a vanishing deductible that reduces your deductible $100 for each claim-free year.

How Much Does A Vanishing Deductible Option Cost
The vanishing deductible could be offered by an insurance company at no additional charge, as an incentive to choose that company. Or, it could be offered for an additional cost. Even if the disappearing deductible benefit is “free” it’s important to note that it’s just one factor that affects the cost of motorcycle insurance, and you still need to weigh your overall costs, coverage, and benefits.

Check With Your Insurance Agent Or Company
Please note that the information provided above is for informational purposes only. For the most accurate, up-to-date, specific information, check with your insurance agent or insurance company!