The 4 Keys to Saving a Ton On Motorbike Insurance
When it’s time to buy motorcycle insurance, you can’t go wrong considering the following four factors before you shop. Insurance companies pretty much all think alike. And these are the risk factors that they always consider when they figure your rates.
1. Driver age and experience — your age and driving experience is already set. But be aware that younger and less experienced drivers inevitably pay more for their insurance. Driving experience includes your accident and claims records. Fewer accidents and fewer claims mean lower insurance costs. This is one area you do have control over as time goes on.
Drivers of any age can make a difference in their rates by taking a motorcycle driving safety class. Not all insurance companies, but many will give credit for the successful completion of a certified safety class.
2. Bike age, cost and modifications — Of course the more expensive the bike and more risk to the insurance company and the higher the cost of the insurance. Especially if you make modifications to the bike, insurance costs can skyrocket. That’s because the cost of replacing those modifications is often high.
If you haven’t purchased your bike yet and particularly if you’re a first-time biker, consider getting an older, lower powered model to cut your teeth on. Newer bikes and bigger engines increase the cost of replacement and the risk of an accident, so insurance companies naturally charge more for these.
3. Storage and security — store your bike in a secure area and the insurance company will take notice. You will typically get lower rates if the bike is stored in a locked garage as opposed to outside on the street, for example.
Bike security devices when you’re out of the road can also make a difference with your insurance rates. For less than $100 you can buy and install a bike immobilizer that makes it more difficult for people to take your bike and thus reduces the cost of theft coverage.
4. Driver and passenger safety — Get insurance discounts for wearing the right safety equipment. Of course a helmet is a must, but some companies may give you discounts for other types of equipment and devices. Check with them.
Insuring passengers is expensive but necessary. Make sure they wear the same safety equipment and have the same coverage as you. You may not realize it, but bikers are sued more often by passengers than anyone else. If you typically do not have passengers you should be able to pay less for your insurance.
Once you have bought your bike a number of these factors are pretty much locked in. So it’s worth your while to think about this before you buy and or when you are changing bikes. You can save yourself a lot of money in your insurance bill if you take these factors into consideration.
Dan Danmenn enjoys writing informative reports and internet sites for motor-bikers on how to save money on insurance. If you found this article useful you might also want to visit his newest website Motorcycle-Insurance-Quotes.org where you can learn more about buying Cheap Motorcycle Insurance
