Saving On Motorbike Insurance
There are always the ‘direct’ impacts on the price of motorbike insurance. These include analyzing the:
- Age of the driver
- Sex of the driver
- Experience of driver
- Style of motorbike. For example, Road bike, sports bike etc.
- Engine output ‘cc’
- Replacement price of the motorbike
However, there are also some ‘indirect’ aspects that will help you save on motorbike insurance, which you may have just forgotten about. These are just a few:
- Completing a motorbike safety course. Some insurers offer this at their discretion, giving the opportunity to riders to improve their skills. If you successfully pass the course, demonstrating you are a safe rider, you will then be rewarded through a lower insurance premium. However, all insurers differ, and you must enquire each insurer whether they offer this.
- Depending on where your motorbike is stored overnight, may impact on your insurance premium. That is, if it is stored inside a locked garage, the premium should be lower!
- Do not forget, that just like any other insurance (home, contents, car etc.) you can bundle your motorbike insurance together with the same company, allowing you a further discount on the premium.
- Remember to not only compare different insurers, but also, use one company’s quote as a bargaining tool when you talk to another insurer! See if they further reduce the premium to beat their competitor’s offer.
Sport Bike Insurance
Statistics have shown that sport bikes have many more accidents than other motorcycle types. Having a great amount of engine power, able to boost a rider at over 200mph, it can be dangerous for those riders that do not have much experience on the roads. This is why sport bike insurance does cost a lot more than other types.
When you are looking for sport bike insurance there are a few things you should know:
- Any customizations you have carried out on your sports bike (including wheels and bodywork) should be clearly stated in your insurance policy, because insurers usually cover the standard model with no modifications.
- Any performance enhancements should also be clearly stated in your policy.
- Modifications that could affect the sport bike’s legality for your country should also be considered. For example: In some countries learner riders have a strict engine capacity restriction. If you are making a claim, the insurance company could easily refuse your claim due to having breached legal restrictions.
- If you are a bike enthusiast like I am, and enjoy taking your bike to the race track, ensure you know the insurance liabilities for any damages sustained on a race track. Many insurers will not cover payouts to damage associated with race track riding, unless it is explicitly negotiated for in your policy. Many riders are not aware of this, and that it is probably in their best interests to make this clear with the insurance company.
Hope this brings an idea or two to your mind, and above all, ride safely..
