You Will Save Lots On Motorbike Insurance — Learn The Key
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 — You may not be able to change your age or driving experience but be aware that the older the driver of the bike and the more driving experience (in particular accident free experience) the lower your rates will be.
Education can also help. Many insurance companies will give credit for the completion of a motorcycle safety class. Drivers of any age can take advantage of this and lower their insurance bill.
2. The cost and age of the motorcycle — as with car insurance the more expensive the bike the higher the insurance premium. Bike modifications in particular can cause rates to increase significantly. Modifications can often double the cost of the bike and raise rates accordingly.
First-time biker’s and younger bikers might consider buying an older bike with a smaller engine. Not only will the cost of insurance go down because of the lower replacement cost, but accident risk also decreases with smaller and less powerful engines. If you buy a souped-up racing bike expect the insurance company to charge you souped-up rates.
3. Bike security and storage — The more secure your storage area the more likely you’ll get a good discount on insurance since bike theft becomes less of a risk. If you have a locked garage to store the bike in, be sure to tell your insurance company.
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. Safety for drivers and passengers — most if not all states require you to wear helmets these days. If you don’t you can be sure the insurance company will charge you more simply because the risk of a serious accident is much higher. The company may also give rate reductions when you use other safety equipment. Check to find out.
Insuring extra passengers is expensive. So you can save money if you ride solo, or only carry passengers infrequently. Make sure your passengers have the same coverage as you and also wear safety equipment. The majority of lawsuits for biker accidents actually come from their passengers.
If you have already purchased your bike some of the above factors are already set. But eventually you may buy another bike and over time your driving record will also change. Keep the above insurance secrets in mind, because a little common sense can go a long way to reducing your insurance bill.
Dan Danmenn enjoys writing helpful reports and internet sites for motor-bikers on how to save money on insurance. If you learned something from this piece you might also want to visit his newest website Motorcycle-Insurance-Quotes.org where you can learn more about buying Motorbike Insurance
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