For many of us, the cost of bike insurance is a significant part of our budget. So whatever we can do to find out how to save money on motorbike insurance has to be a good thing.
So before you start buying your motorcycle insurance, think about how you can reduce your premium.
It all comes down to how risky a proposition you are for an insurance company. The main issues are your age, where you live, your bike and your riding record (how many accidents have you claimed for in the past and how many points you might have on your licence).
You can’t do anything about your age, nor can you usually move around to get a postcode that might get you a lower premium. Although, if you can securely lock away the bike on private property at night, it should help the cost of your premiums.
Now, you can do something about the bike you ride and your riding record.
Most of us ride bikes that fit our dreams (more so than our pockets), but if you have yet to purchase your bike, think very carefully about where certain machines are placed in the insurers list. Your street racing machine which is capable of warp factor six might be the coolest motorcycle you’ve ever owned, but your risk factor will also be in the Star Trek league, so think ahead!
Your riding record is key. Increasing points on your licence will affect future quotes and major convictions (such as being banned for speeding and drink driving) will cause your premium to sky rocket. So, when you’re riding, always think about the potential downside for your pocket. And these days it’s not just a matter about being unlucky and being picked on by a bored police crew. If you don’t get caught by a speed camera these days, you’re a Houdini!
Also consider going on courses which are aimed at making you a better rider. Insurance companies should acknowledge your efforts with lower premiums, but ensure that the course is properly accredited and accepted by the insurance industry. Don’t get Bill from the local to take you for a spin and try to convince everyone that you are now a better rider.
Join a scheme that can really improve your riding skills. Take a look at some of the courses run by the police these days. Their riders are highly trained and no matter what you might think about pre-occupation with speeders, they can really control their