Is The Cheapest Bike Insurance Right For You?

Bike insurance is an insurance geared towards motorcycle riders. As with other types of insurance, getting it cheap is hard, and getting decent quality coverage for the affordable price is even harder. But it can be done so long as you understand your options and other variables.

Factors That Affect Insurance Costs

There are a number of factors that determine your bike insurance rates.
  • Model and Age of the Bike – the newer, flashier models would cost you more than older, more basic motorcycles. That is because the older motorcycles are easier to repair and don’t require expensive parts.
  • Your Age  – As with most other types of insurance, the older you are, the higher your rates are going to be. That said, if you are just starting out, your rates would be high regardless of age. Once you gain some riding experience, your rates will adjust to a more age-appropriate level.
  • Your Address – if you live in a high-crime area and/or a high-accident area, your rates will be higher than they would be if you lived in a low-crime area with low-speed roads.
  • Your Accident History – it doesn’t matter if they are motorcycle accidents or automobile accidents – any and all accidents will count against you. The less accidents you have on your record, the lower your rates will be.
  • Your Job – the insurance also hinges on where you work. The insurance companies assume that you will be riding your bike to get there. If your place of employment is perceived as hazardous, your insurance rates will go up.
Getting a Good Deal

While it is important to keep the above factors in mind, there isn’t a whole lot you can do to change them in your favor. However, there are a few things you can do that will help you negotiate lower health insurance rates.
  • Shop around – There are a number of insurance companies that offer bike insurance. There is no reason why you can’t look at as many of them as possible. Compare rates, see what benefits each one offers and search the history of each company to see if they have any history of customer complaints and fraud allegations. If the deal looks too good to be true, it probably is, but there is no way you can be sure unless you check.
  • Keep Your Bike Secured  – If you can find some way to keep your bike secure while it’s parked, you can persuade the insurance company to lower your rates. This can involve installing an alarm system, putting the bike in a garage or finding some other way to make it harder for would-be thieves to steal it.
  • Don’t Over insure – Take out only as much insurance is your need. Contrary to the popular belief, taking out extra insurance won’t help you get more money from the insurance company.
  • Keep Your Mileage Low – Basically, the less non-essential trips you take, the better. You should be able to get a better rate if you keep your mileage as low as you can.
  • Get Special Motorcycle Training – taking any classes dealing with motorcycle safety classes, or any classes related to motorcycle riding can help decrease your insurance rates. Be sure to keep the certification for each class on hand when you are negotiating with the insurance company.
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