When we buy insurance we protect ourselves from potential risks. It is precisely the potential risks that set the price of a policy. If the policy holder is classed as high risk then the insurance premium will be high. This goes with full power when we talk about bike insurance. Even though the bikers are only forming one percent of the whole road traffic, they are considered risky to insure as they are involved in many accidents and the fatalities are around twenty percent. There are other factors that the insurance company will take into account too like address, occupation, age etc. Here are some tips that will help you save some money when purchasing bike insurance.
Your bike
When you are out ready to purchase a new bike, you need to think about everything carefully. Although an expensive sporty bike will probably be your dream, you need to know that those bikes are more likely to be involved in an accident so the claims will be made more often so the premium will be a lot. That is why when you buy your bike, think practically. It is a good idea to check the website of the insurer you have chosen to see which bikes they class as high risk.
Try to keep your bike as original as possible
If you are thinking of getting a cheaper model motorcycle and then making many modifications to it, you need to know that the insurance premium in that case will be very high. The reason for this is that it will be very expensive to repair the bike in case of an accident. If you really want a cheap premium, you should try not to do any modifications or at least keep them to a minimum.
Stay safe on the road
If you are not a careful rider and you make many road convictions then your premium is likely to be very high. Try and follow all the road signs and follow the traffic laws strictly and you will not only be safe but you will save money on your insurance, too.
Keep your motorbike secure
If you secure your motorcycle, then there will be less chance of theft or vandalism. It is good to fit am alarm, immobilizer, chains, locks, anchors etc. If you have a garage that you use to park your bike, that will lower the insurance premium even further.
Don’t claim too often
The less you claim off your insurance the better. Insurance companies are encouraging everybody to try and keep their record claim free and they give discounts on the policies. Some companies even offer 20 percent discounts if you manage to stay claim-free for 5 years or more which is quite a lot of money off your premium. In case you find yourself in a small accident, it is always better to cover the costs yourself rather than claim off the insurance.
Before you buy your bike insurance, make sure you research well and read the fine print of the proposed contract. Trying to be sensible and careful on the road will guarantee you very good and cheap insurance.
