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. Driver age and experience — You may not be able to change your age or driving experience but be aware that the older the driver of the bike and the more driving experience (in particular accident free experience) the lower your rates will be.
Drivers of any age can make a difference in their rates by taking a motorcycle driving safety class. Not all insurance companies, but many will give credit for the successful completion of a certified safety class.
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 location and security — where you store your bike and the security devices attached to your bike can make a big difference in your insurance costs for theft. If the bike is stored in a secure garage as opposed to outside or in a high risk neighborhood, insurance companies will favor you with lower rates.
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. Driver and passenger safety — these days most states require a helmet. Frankly you’re nuts if you don’t wear one, and insurance companies will charge you much more, Check with your company on possible discounts for the use of other basic safety equipment.
Be sure to cover your passengers with the same personal injury insurance that you have. Your insurance costs will be considerably less if you ride alone or only rarely have a passenger. But be aware that most lawsuits against bikers come from injured passengers, so don’t skimp on their insurance.
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.
Dan Danmenn enjoys creating informative articles and sites for motor-bikers on how to save money on insurance. If you found this article useful you might also want to visit his newest website Motorcycle Insurance Quotes where you can learn more about buying Cheap Motorcycle Insurance
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