You Can Save Big On Motorcycle Insurance Coverage — Here’s The Secret

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.

Education can also help. Many insurance companies will give credit for the completion of a motorcycle safety class. Drivers of any age can take advantage of this and lower their insurance bill.

2. Motorcycle age and cost — Since it costs the insurance company more to replace newer more expensive bikes, it naturally costs more in insurance premiums to own one. Bike modifications can also significantly increase replacement and insurance costs. Don’t do them unless you’re willing to pay.

First-time biker’s and younger bikers might consider buying an older bike with a smaller engine. Not only will the cost of insurance go down because of the lower replacement cost, but accident risk also decreases with smaller and less powerful engines. If you buy a souped-up racing bike expect the insurance company to charge you souped-up rates.

3. Storage and security — store your bike in a secure area and the insurance company will take notice. You will typically get lower rates if the bike is stored in a locked garage as opposed to outside on the street, for example.

Bike security devices when you’re out of the road can also make a difference with your insurance rates. For less than $100 you can buy and install a bike immobilizer that makes it more difficult for people to take your bike and thus reduces the cost of theft coverage.

4. Driver and passenger safety — Get insurance discounts for wearing the right safety equipment. Of course a helmet is a must, but some companies may give you discounts for other types of equipment and devices. Check with them.

Insuring passengers is expensive but necessary. Make sure they wear the same safety equipment and have the same coverage as you. You may not realize it, but bikers are sued more often by passengers than anyone else. If you typically do not have passengers you should be able to pay less for your insurance.

Once you have bought your bike a number of these factors are pretty much locked in. So it’s worth your while to think about this before you buy and or when you are changing bikes. You can save yourself a lot of money in your insurance bill if you take these factors into consideration.

Dan Danmenn enjoys creating insiteful articles and sites for motor-bikers on how to save money on insurance. If you learned something from this article you might also want to visit his newest website Motorcycle Insurance Quotes where you can learn more about buying Motor Bike Insurance