Description: Know the factors that affect your motorcycle insurance rates and how you can get the cheapest bike insurance policy.

How can you get the most affordable motorcycle insurance policy?

Now that you’ve got your favorite bike, it’s time that you insure it. However, prior to contacting any insurance agent, you’d need to know how the motorcycle insurance companies determine your rates.

By training yourself on how the motorcycle insurance company would look at you, you can get the most suitable coverage for you and your two-wheeler and at the same time save money. At first, to get the most affordable motorcycle insurance policy, you should know how the insurance company would grade you. Given below are some factors that are taken into account by the insurers:

Your motorcycle

If you have the most modern and fashionable bike, that would definitely cost you higher than a basic and old motorcycle. 

Your age

Similar to auto insurance, the older you are, the cheaper your premium rates would be. However, if you’re a novice motorcycle driver, then you’d possibly come under a higher rate category till you acquire some driving experience.

Your residential address

On certain occasions, the rates you get can be significantly affected by where you stay. If you reside and/or frequently drive in an accident or crime prone area, your rates would most probably be more than someone living in an area with lower rate of accidents and crimes.

Your job

Where you’re riding to and keeping your motorcycle would affect your rate. If you need to park your motorcycle on a construction site, then your rate would be high because of higher risk of damage to your bike.

Your driving history

All accidents matter. Even though you’re a novice driver, the accidents you faced with your bike would weigh against you.


Now that you understand how the insurer would consider and grade you, given below are some tips that would help you get a good offer:

Shop around

Insurance can differ extensively in the same area. Take as much time as you can to contact as many insurers as possible to receive a rate quote. On certain occasions, the most effective means to lower your rates is shopping around.

Don’t go for over insurance    

Keep in mind that if something happens to your bike, you’d just get the market value. Hence, over insuring wouldn’t work for you in obtaining a higher price for your motorcycle.

Securing your motorcycle   

What should you do to keep your motorcycle safer? If you keep it in a garage, fix an alarm or protect it in some way when it’s parked, you might qualify for attractive discounts on your rates.

Mileage

If you ride your bike occasionally and your mileage is low, then you can be eligible for a more affordable rate.

Special training on driving motorcycles

Undergoing special training on motorcycle driving can help reduce your rate. Simply ensure that you have your credentials document ready for the insurer to examine.

There’s no logic to pay more than necessary to an insurer while another one is ready to extend a better offer. If an accident takes place, you’d receive the same amount for your motorcycle irrespective of what company you select. Take your time to see how the insurer considers you, your bike and your driving history. You’d know how to save money and at the same time, find an excellent policy.