Where can you find cheap motorbike insurance? Many factors have an effect on how the companies can rate your premium like :
1) Your motorcycle – as with cars, if you have got the most recent, flashiest more expensive bike then you may pay a higher price. If you are new to motorbikes, it is a good plan to go for an older bike to begin with. Apart from reducing your policy charges, it’s more sensible to practice your new skills on an ancient bike than a pristine machine.
2) How long you had your license? If you have only just qualified the probabilities of you being involved in an accident are statistically higher and this can make the underwriter nervous. You’ll be able to enhance your risk profile if you complete some advanced courses and post your certificates to your insurance broker.
3) Your age – again statistically teenagers and younger drivers are more prone to have crashes thanks to immaturity combined with a scarcity of riding experience. Not all younger drivers behave immaturely however they do end up paying the price of the others. All you can really do is prove that you’re responsible and mature by not getting into any hassle and steering clear of crashes. Build up your no claims bonus is one way to improve future premiums.
4) How you plan to use your bike? – If you are going to travel to work each day, you may pay higher charges than somebody who solely uses it for informal ride outs at the weekend. The trouble doesn’t always lie with the biker but with negligent vehicle drivers who seem to suppose bike owners are both invisible and invincible,if they run over you, you will walk away. Sadly as we all know this is not the case. Also where you park your bike will have an effect on your insurance.
5) Your riding history will be taken into account including any accidents you had while driving a car. Yes I know it’s like comparing apples and oranges however the actuaries are looking for trends.
So now you know how they work out your application , what alternative tricks will you use to reduce your charges?
You need to shop around for quotes as they’ll vary significantly from one insurer to the next. You need to increase your deductibles. If they perceive that you’re prepared to take on some of the risk, they will reward you with reduced costs.
If possible attempt to fit security devices to your motorbike to help prevent it being stolen i.e. alarms and immobilizers’. Park your bike in the garage and not on the driveway. If you don’t use the motorbike to get to work, you should qualify for a reduction as your mileage and so your chance of being in a collision is less.
An alternative way to improve your costs is to make positive you are not over insured as some insurance policies such as your household or medical could offer overlapping cover. Cheap motorbike insurance is out there; you now know how to find it!
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