You Will Save Money On Motorbike Insurance Coverage — Here’s The Secret
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.
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. 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.
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.
Similarly bike security devices can have a significant impact on insurance rates. Check with your insurance company to see if discounts are provided for bike immobilizer devices. These can be found for $100 or less and they can provide a nice savings on your insurance policy.
4. Driver and passenger safety — these days most states require a helmet. Frankly you’re nuts if you don’t wear one, and insurance companies will charge you much more, Check with your company on possible discounts for the use of other basic safety equipment.
Be sure to cover your passengers with the same personal injury insurance that you have. Your insurance costs will be considerably less if you ride alone or only rarely have a passenger. But be aware that most lawsuits against bikers come from injured passengers, so don’t skimp on their insurance.
Be sure to consider these basic four factors before you go insurance shopping (even before you buy your bike). Most every insurance company will make significant rate concessions when you fall on the conservative side of any one of these four factors.
Dan Danmenn enjoys writing insiteful articles and websites for motor-bikers on how to save money on insurance. If you found this article useful you might also enjoy his newest website Motorcycle-Insurance-Quotes.org where you can learn more about buying Motor Bike Insurance
