If you are in the market for motorcycle insurance here are four ways you can save a significant amount of money when you talk to your insurance agent or company. Learning to think like an insurance company you can do nice things for your pocketbook.
1. Experience and age of the driver -- of course you can't make yourself any older or instantly change your driving record but be aware that these are major factors in the rate calculation. The more driving experience and the fewer accidents on your record the better you will do with insurance companies.
Even so, younger riders as well as older can often reduce their rates by simply taking a safe driver class. Drivers of all ages will get significant rate advantages the longer their driving record is free of accidents and claims.
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. 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.
Similarly if you have an immobilizing device or other security device like LoJack on your bike you will score points with your insurance company. You can purchase and install an effective bike immobilizer device for less than $100.
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.
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.
1. Experience and age of the driver -- of course you can't make yourself any older or instantly change your driving record but be aware that these are major factors in the rate calculation. The more driving experience and the fewer accidents on your record the better you will do with insurance companies.
Even so, younger riders as well as older can often reduce their rates by simply taking a safe driver class. Drivers of all ages will get significant rate advantages the longer their driving record is free of accidents and claims.
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. 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.
Similarly if you have an immobilizing device or other security device like LoJack on your bike you will score points with your insurance company. You can purchase and install an effective bike immobilizer device for less than $100.
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.
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.
About the Author:
Dan Danmenn enjoys writing useful 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 where you can learn more about buying Motor Bike Insurance
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