How to reduce motorbike insurance costs
Many motorbike owners find the costs of insuring their bikes very frustrating. It doesn’t matter if you are looking for insurance for scooters, insurance for mopeds, or cheap motorbike insurance, sometimes getting the right coverage at an affordable cost can seem downright impossible.
There are, however, specific ways of cutting the cost of motorcycle insurance, insurance for scooters, and insurance for mopeds. So, how can you reduce your premiums and find the perfect cheap motorbike insurance?
Top tips to reduce motorcycle premium costs
- Shop around: The easiest way to find the cheap motorbike insurance is to look for it! You’d be surprised at how many bike riders fail to compare quotes and to really have a good dig around their options to find the lowest cost. A lot of the time people think that it will just take too much time to quote compare, but the fact is that you can go online and have search sites compare costs for you in minutes!
- Lower your risk: The higher a risk (of making a claim) an insurer thinks you will be, the more it will charge you for your motorcycle insurance policy. This is a particular problem with young riders who will be charged higher premiums based on the fact that they are statistically more likely to make claims due to their inexperience. That said, any motorbike rider can reduce premium costs by making insurers see him/her as a lower risk. So, build up your no claims bonus and think about taking an advanced riding course to show that you take the way you ride your bike seriously. If you are a young rider, then think about a cheaper third party policy until you get a few insurance (and real-life!) years under your belt.
- Increase your security: Insurance costs for motorbikes are often higher than the norm because thieves often find it easier to steal a bike and vandals to damage it. So, if you can show an insurer that you are taking measures to protect your ride then it may cut the costs of your policy. The best way of doing this is to garage your bike, scooter, or moped when you aren’t using it and to put any security features that you can afford on the bike to keep your insurance for scooters, insurance for mopeds, and motorcyle insurance as inexpensive as possible.
- Increase your deductible: Most motorcycle insurance, insurance for scooters, and insurance for mopeds policies will come with a deductible whenever you make a claim. This is the sum of money that you will pay if you make the claim with the insurer taking on the rest. So, for example, if your deductible is $50 and you need to make a claim for $1,000, then you will pay the $50 and the insurer will pay the remaining $950. If you can afford it, try to get a higher deductible than standard - the more you are willing to contribute to a claim, the lower your costs will be. So, this can be a good route to cheap motorbike insurance.
- Lower your mileage: Insurers may give you a low mileage discount if you won’t run up too many miles on your motorcycle. So, if this applies to your bike use then make sure that you use it to save some money!
The key to reducing the premium costs of your motorcycle, scooter, or moped insurance is to understand what you can do to lower the risks to the motorcycle insurance company. If you can show that you are less of a risk, you may be rewarded with cheap motorbike insurance costs.
And, of course, shopping around for motorcycle insurance is also vitally important. Getting cheap motorbike insurance does also depend on your willingness to look at and compare as many options as you can; do this and you will find it far easier to cut the costs of your insurance policy.
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