If your motorcycle insurance has gone up you may be searching for ways to cut down the cost of your premium. Whether it is due to the current economic climate, rises in costs of insurance companies’ claims, or changes in your individual circumstances, don’t just settle. By shopping around you can find a cheap motorcycle insurance policy that better suits your needs and your budget. You can search for quotes online, call an insurance broker, or visit one in person. While you are shopping, you may also be able to reduce your motorcycle insurance by making some modifications on your end. Here are a few things to consider changing in order to get a price break.
Type of Bike-A smaller, older or less expensive bike with a less powerful engine will help to reduce your insurance premium. An older, less expensive bike or classic motorcycle will be cheaper to repair and replacement costs tend to be lower. Avoid modified and unusual motorbikes because it will probably raise the price of your premium as they are also considered to be more expensive to repair or replace, and more attractive to thieves.
Safety Courses– Improve your riding skills by taking a motorbike training course. Being looked at as a safe motorcycle driver you will be a huge benefit to you in reducing the price of your insurance. However, some of the coursed can be expensive, so be sure to weigh the benefits of safety courses against the cost of taking the course. Riders who are incident free for a number of years are usually rewarded by their insurer with a lower premium.
Security– Always park your motorbike in a secure area and make sure you have good security protection on your bike. If your bike is stored off the road on a driveway, or kept in a locked garage overnight, this will help to reduce the cost of your policy. Also, an electronic alarm and immobilizer will have a positive impact on your premium, the same as it would on your car.
Mileage– If you can reduce your yearly mileage, you are more likely to get a discount from your insurance company. If you are on the road less, you will be seen as less of a risk to insure because you won’t be on the road during peak traffic hours. How you use your bike will have an effect on your bike insurance. For example, if you only use it to go on social trips and for everyday activities such as shopping or visiting friends then you’re likely to be seen as less of a risk than if you ride to work
Pay annually-If you have the money up front, this is one of the best money saving moves you can make. Everyone likes to be paid up front, so if you can pay for your insurance in full when you take out the policy rather than by monthly instalments, you will probably get a significant discount.
Who Rides– If you want to carry a passenger (pillion) you will most likely have to pay more for your insurance. Also, if you have a young, inexperienced rider on your policy it will mean that your premium will increase. In contrast, adding an older or more experienced rider could help to cut costs. Remember to accurately describe who the main rider of your bike is. If you don’t, you risk invalidating your insurance by committing a criminal offence known as fronting.
When it comes to getting cheap motorcycle insurance, the two biggest concerns are safety and security. Every step you take to being a safe driver and to preventing the theft of your bike will help to reduce your motorcycle insurance. Only pay for what you need and choose the level of cover that works best for you and your budget. Read your insurance policy carefully and look out for the optional extras that may be more than you need.