Shopping around can make a huge difference in the cost of your motorcycle insurance premiums, so when the time comes to renew, do your homework, don’t ignore the renewal and see if you could be quids in. Here are our golden rules:
First off, make sure you park your bike in the safest possible location overnight. The road or a driveway won’t help your premiums, but if at all possible indoors or inside a locked garage will.
If the bike is parked outside, look at recognisable brands of security, including thick, unclippable chains, which although expensive may well pay for themselves in terms of decreased premiums.
Do be honest in all the details. A conviction will probably affect the premium, but failure to disclose can render your insurance null and void, which is not a risk you want to take. Modifications must also be disclosed for the same reason, no matter how minor.
Instalments will incur extra, interest charges, so if you are able to cover the full amount at the start of the policy, this is a good way to save.
If you use a comparison site, take the time to check the fine print. Excesses can vary, as can levels of replacement, courtesy cover and more, so rather than just jumping at the cheapest quote, make sure you are getting as much bang for your buck as possible. Excess is important – you have to decide whether you will be willing to make a smallish claim and effect future premiums or whether you would be more likely to pay that claim yourself. If that’s so, set the excess to a level you would be comfortable claiming at, which should bring your costs down.
Mileage has a bigger effect on motorcycle insurance than standard car insurance, so calculate carefully. If you over estimate considerably, it will have a detrimental effect on costs, and you may find you actually do less than you do in a car anyway.
Additional Riders / Pillion cover
Both additional riders and pillion cover will also have a significant affect on the price of your policy, so be honest and see if it makes a difference. Having a well experienced additional driver can actually be beneficial, so do check.
Are you a summer rider? If so it might be possible to get insurance for shorter periods rather than looking for a full years cover. Do check any cost advantage against declaring a SORN and any loss of no claims discount incurred by not taking the whole year.
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