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 -- your age and driving experience is already set. But be aware that younger and less experienced drivers inevitably pay more for their insurance. Driving experience includes your accident and claims records. Fewer accidents and fewer claims mean lower insurance costs. This is one area you do have control over as time goes on.
Even so, younger riders as well as older can often reduce their rates by simply taking a safe driver class. Drivers of all ages will get significant rate advantages the longer their driving record is free of accidents and claims.
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.
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 -- 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 extra passengers is expensive. So you can save money if you ride solo, or only carry passengers infrequently. Make sure your passengers have the same coverage as you and also wear safety equipment. The majority of lawsuits for biker accidents actually come from their passengers.
If you have already purchased your bike some of the above factors are already set. But eventually you may buy another bike and over time your driving record will also change. Keep the above insurance secrets in mind, because a little common sense can go a long way to reducing your insurance bill.
1. Driver age and experience -- your age and driving experience is already set. But be aware that younger and less experienced drivers inevitably pay more for their insurance. Driving experience includes your accident and claims records. Fewer accidents and fewer claims mean lower insurance costs. This is one area you do have control over as time goes on.
Even so, younger riders as well as older can often reduce their rates by simply taking a safe driver class. Drivers of all ages will get significant rate advantages the longer their driving record is free of accidents and claims.
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.
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 -- 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 extra passengers is expensive. So you can save money if you ride solo, or only carry passengers infrequently. Make sure your passengers have the same coverage as you and also wear safety equipment. The majority of lawsuits for biker accidents actually come from their passengers.
If you have already purchased your bike some of the above factors are already set. But eventually you may buy another bike and over time your driving record will also change. Keep the above insurance secrets in mind, because a little common sense can go a long way to reducing your insurance bill.
About the Author:
Dan Danmenn enjoys writing insiteful articles and internet 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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