Tips to Lower Your Motorcycle Insurance

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Written by Michael Foote, Insurance and Finance Expert

Michael Foote is the founder of Quote Goat and has over 13 years experience working in the finance, insurance and currency sectors. Since launching Quote Goat he has appeared on TV as well as many of the largest online publications including Forbes, The Telegraph and The Metro. Prior to Quote Goat, he worked in finance in the city for a number of firms including HSBC.

If you’re struggling to pay your motorcycle insurance premium or you’re simply looking to lower your expenditures, and you think that your motorcycle insurance premium is a good place to start, you’ll be happy to hear that there are a number of things you can do to cut the cost of motorcycle insurance.

Here are some quick tips to help you lower your insurance without compromising on your level of cover:

Pay Annually

If it’s possible for you to do so, pay for your motorcycle insurance premium annually, and it won’t cost you quite as much. The amounts you can save by paying annually rather than monthly will vary from company y to company, so you should also look at price comparison sites and get as many quotes as possible before you make a final decision.

Buy a Smaller Bike

Motorcycles that have smaller engines are less powerful, and that means that your insurance premiums will not be as high if you choose a smaller bike. The same applies to choosing an older bike instead of a new one and a cheaper bike instead of a more expensive one.

Steer Clear of Modifications

Modified motorcycles might look the business, but they’re likely to push up the cost of your insurance premiums too, because thieves may be more interested in unique bikes than average ones and because some modifications can affect the safety of the bike.

Cut Your Mileage

The lower your mileage, the less you will have to pay out in insurance premiums. This might seem unfair at first glance, but as any motorcycle accident lawyer can confirm, the more time that anyone spends on the road, the more likely they are to end up in an accident, so actually it makes a lot of sense that you should pay less if you use your motorcycle less often.

Keep Your Motorbike in a Secure Place

If you are able to park your motorbike in a locked garage, or at least off the road on your driveway or in the garden, then you will obviously be able to get a better quote because it’s less likely that your vehicle will be targeted by thieves.

(Maybe) Don’t Let Anyone Else Ride Your Bike

It may seem harsh, but allowing another person, especially if they are young, ride your bike could send your premiums through the stratosphere. On the other hand, if you allow an older driver with a lot of experience behind them join your policy, you could find that the cost of your premium falls.

Enrol on a Motorcycle Training Course

Taking an additional motorcycle training course to brush up on your riding skills will improve the way the insurance companies look at you, and you may be able to cut your premiums. Of course, these kind of courses aren’t free, so you’ll need to do your sums and see whether it’s really worth it for you or not.

Ride Carefully

If you make an effort to ride carefully, then you’ll build up a no claims bonus, which will ensure that your premiums get smaller and smaller over the years.

Shop around

Last but not least, it’s crucial to shop around for quotes, so save time by comparing motorbike insurance.

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