Save Money and Enjoy Your Motorcycle More!

Thursday, January 24th, 2019 - Uncategorized

Don’t make the mistake that many people make in thinking that you can skip out on insuring your motorbike. Most of the people who chose to not insure their motorcycle do so because they are misinformed about the costs and the law. If you are going to ride a motorcycle you need cover, just as you do if you drive a car. To help save money here are few tips you may want to follow to help get the lowest premium possible.

1. Offer to pay a higher voluntary excess, this is the amount of money that will come out of your pocket before the insurance company has to put up any funds. In many cases increases your premium a few pounds can help decrease your premium payment by 25 to 30 percent.

2. If you get a small dent in your bike or other minor repair fix it, don’t submit it as a claim, pay for it out-of-pocket. The purpose of cover is to help protect you in the event of major financial loss. The more often you file a claim the higher your premium is going to go over time.

3. Find policy discounts. This isn’t difficult and it could save you a lot of money. You can talk to a few different agents or do some research online. For example if you only ride your motorcycle occasionally you may be able to get a low mileage policy for the occasional rider, which could save you hundreds of pounds a year.

4. Understand that not all drivers are treated the same. Your driving record plays an important role in the premium you are going to be paying. The less accidents and tickets you have on your driving record the better premium you are going to get. This is due to the fact that a good driver poses less of a risk, and the reward is a lower premium.

5. Examine terms and ask questions. Sure it sounds great that your policy covers a guest passenger, but if you don’t have a guest passenger asking that this be removed from your policy could help you pay a smaller premium.

6. A good credit score also means a lower premium. Some insurance companies do look at credit scores and they use that ranking to determine premiums. Do all you can to acquire and maintain a healthy credit score.

7. The type of bike you have can impact the premium you are going to get. A sports model motorcycle is going to end up with a higher premium because they are considered high risk. If you already have a sports model look for discounts other ways. If you are getting ready to purchase a motorcycle ask yourself if you really need it. It can save you a lot of money when it comes to getting insurance.

8. An older bike means bare minimum cover. Look, should you get in accident and your policy covers the damage that is done to your bike it is only going to cover the book value of that motorcycle and only the factory parts.

You need motorcycle insurance, you can’t dispute that. Just because you need it doesn’t mean that it has to cost you a fortune. Talk to your insurance company, know what you need, read the policies and figure out which is the best type of motor cycle insurance for you and your passion.

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