Insurance is a crucial part of owning a motorcycle; the need to be covered for any accidents, damage or theft is not only a necessity but also a legal obligation. As with car insurance, the cost of a motorcycle insurance policy can be expensive and often people are restricted as to the make and model of bike they are able to own due to the costs that come with it.
It is sensible to take every necessary step to attempt to reduce the cost of the insurance policy and there are simple steps that can be taken to ensure motorbike insurance is affordable…
$11. No Claims
Having to claim on your insurance because of an accident or damage that has been done to your motorbike will cause your insurance premium to rise in cost. If you are able to cover the costs of repair yourself then do so as it will ultimately reduce your expenses long term.
$12. Advanced Driving Qualifications
Once you have achieved your motorbike license, there is an advanced driving certificate you can earn which insurance companies recognises and use as a way to reduce your policy cost. The Institute of Advanced Motoring is able to offer this option.
$13. Security and Safety
Adding alarms, immobilisers and ground anchors are not only the best way to make sure your bike is safe but they also help to reduce the cost of your insurance if the insurance agent can see the risk of theft and damage is reduced.
The age of the motorcycle you own can have an effect on the cost of insurance. Unlike with cars, the older the bike the cheaper the insurance becomes. Classic bike insurance is one of the cheapest policies available.
Modifying your bike, adding any additional items and features that are not original on the machine count as a modification and an additional item to ensure which will push up the cost of your policy.
Sticking to a certain mileage restriction on a monthly or yearly basis will help with the expense of insurance. The fewer miles you do, the less chance there is of problems arising with the bike and therefore insurers will see your machine as worth insuring and reward you with a lower price.
$17. Pay your Insurance Yearly
Monthly payments of your insurance policy incur tax charges, which will ultimately increase the price of the coverage. Paying the policy in one instalment means you are simply paying the quoted price.
$18. Shop around
There are multiple motorbike insurance companies that you can simply achieve a quote from so you can be sure you are getting the best price and coverage. Motorbike and auto insurance quotes are available from every insurance provider.
Speeding, driving convictions, any form of penalty whether it is a fine or points on your license WILL increase your insurance costs. Sensible and safe driving will be rewarded with your premium decreasing yearly.
Every type of insurance policy has an excess, which you set yourself, a figure that is affordable for you to pay should you need to claim on your insurance. The higher you set the excess, the more your overall premium will drop. Obviously if you make no claims, then you will not have to pay the excess.