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You Can Save A Bundle On Motorcycle Insurance -- Here's The Secret
When it's time to buy motorcycle insurance, you can't go wrong considering the following four factors before you shop. Insurance companies pretty much all think alike. And these are the risk factors that they always consider when they figure your rates.
1. Driver age and experience -- You may not be able to change your age or driving experience but be aware that the older the driver of the bike and the more driving experience (in particular accident free experience) the lower your rates will be.
Drivers of any age can make a difference in their rates by taking a motorcycle driving safety class. Not all insurance companies, but many will give credit for the successful completion of a certified safety class.
2. The cost and age of the motorcycle -- as with car insurance the more expensive the bike the higher the insurance premium. Bike modifications in particular can cause rates to increase significantly. Modifications can often double the cost of the bike and raise rates accordingly.
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. Storage and security -- store your bike in a secure area and the insurance company will take notice. You will typically get lower rates if the bike is stored in a locked garage as opposed to outside on the street, for example.
Similarly bike security devices can have a significant impact on insurance rates. Check with your insurance company to see if discounts are provided for bike immobilizer devices. These can be found for $100 or less and they can provide a nice savings on your insurance policy.
4. Safety for drivers and passengers -- most if not all states require you to wear helmets these days. If you don't you can be sure the insurance company will charge you more simply because the risk of a serious accident is much higher. The company may also give rate reductions when you use other safety equipment. Check to find out.
Insuring passengers is expensive but necessary. Make sure they wear the same safety equipment and have the same coverage as you. You may not realize it, but bikers are sued more often by passengers than anyone else. If you typically do not have passengers you should be able to pay less for your insurance.
Be sure to consider these basic four factors before you go insurance shopping (even before you buy your bike). Most every insurance company will make significant rate concessions when you fall on the conservative side of any one of these four factors.
About the Author Dan Danmenn enjoys creating informative articles and sites for motor-bikers on how to save money on insurance. If you found this article useful you might also enjoy his newest website Motorcycle Insurance Quotes where you can learn more about buying Motorbike Insurance
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