Reduce the Cost of Your Bike Insurance

The cost of bike insurance is largely due to statistics. Knowing the different factors that affect how much you pay for your insurance premium can help you save money when renewing or taking out a new policy.

Many factors can play a role in determining your insurance costs. The elements that affect how much you pay for your premium can include: type and style of bike, age and sex of the rider, bike security and bike mileage - to name but a few.

Bike insurance providers take into account the potential for theft or damage to your bike. If you show evidence that you can protect your bike from getting stolen or damaged then you can lower the cost of your insurance. Therefore, consider where you store your bike - it's best to keep your motorcycle in a locked garage at night. Also, ensure your bike is secure with an approved security device.

Speeding convictions can lead to higher insurance costs. Insurance savings can be gained by maintaining a good driving record and avoiding any points on your license. By driving safely and cautiously you can not only maintain the condition of your bike, but also benefit from a no claims bonus when renewing your bike insurance.

If you are an experienced or older rider then it is possible to achieve discounts on your insurance. Statistics show that older bike owners tend to make fewer claims, whilst younger bike owners are a higher risk for accidents. However, young riders don't just need to wait for nature to take its course. Riders that have passed their Compulsory Basic Training (CBT) can see a reduction in insurance premiums if they achieve a full license. Further discounts may be achieved with some bike insurers if the rider passes the Institute of Advanced Motoring's Advanced Motorcycling Test.

Bear in mind that more powerful bikes and older bikes pose a higher risk to insurers. The type, make, style and age of the bike you own will all have an impact on the cost of your premiums and should be taken into consideration prior to purchase. The older the bike and more miles it has driven will lead to wear and tear making it more likely to break down. Likewise, high mileage each year on a newer bike can also lead to maintenance problems.

The cost of bike insurance premiums can vary widely among insurance providers. You can find great deals on bike insurance by shopping around but it's more important to compare policies with the type of cover that best suits your needs.

Paul McIndoe writes for a digital marketing agency. This article has been commissioned by a client of said agency. This article is not designed to promote, but should be considered professional content.

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