Motorcycle Insurance Tips

Motorcycle insurance is mandatory in almost all the countries as the number of two wheelers has increased so has the number of two wheeler accidents. Therefore motorcycle has to be insured but simultaneously the budget also has to be kept in mind. There are very common things, which are if and when considered result in a financially pliable insurance.


Motorcycle Insurance Quote

Since insurance is all about the assessment of risk there are two key factors that play a major role.

• Rider
• The motorcycle

The factors that are deemed important in case of a rider are as follows:

• Rider’s age-A middle-aged rider is trusted more than a young rider.
• Rider’s driving record-The number of tickets that have been issued to the rider for various reasons are taken into account.
• Rider’s Location-The location where the rider would ride motorcycle would also play a key role for the insurance company to decide on the premium since city areas pose risks more dangerous than the town or country areas.
• The Rider’s experience-The experience of the rider also matters since if the rider is a pro biker the risk involved would be minimum but if he/she were a beginner the risk would be considerable.
• The accident record of the Rider- The insurance company would definitely trust a person who is less accident prone and more careful since it actually determines the risk rating.
• Rider’s Occupation-The occupation of the rider helps to determine his/her credibility since that shows how regular and stable he/she would be in paying the insurance premiums.

The factors, which are taken into account in case of a motorcycle, are as follows:

• Make and Model- The make and model of the bike play a key role in getting the insurance, which is quite obvious. If a racing bike is to be insured the risk factors involved would be more than if it is normal motorcycle.
• Modifications on the original model- When the original model is modified it involves a lot of financial risk to insure such a bike since modifications at times cost half of the motorcycle’s price.
• Value of the bike-This refers to the original value of the bike which varies with the make and model of the motorcycle. A sports bike would definitely cost more than a normal bike. Similarly the premium paid for the former would be more than the premium paid for the latter.
• Location- The place where the bike is being garaged or if at all it has proper garage or not makes a huge difference in the premium since it helps in assessing the risk factors of vandalism, theft etc.

Cheap Motorcycle Insurance

There are some easy ways to cut down on the premium of your insurance and get a cheap motorcycle insurance if some commonsense methods are followed:

• It is better to pay high excess in case of a motorcycle insurance claim.
• If you are a beginner try and check if you complete an advanced course in riding lessons that might give you an option of decreasing the insurance quote.
• In case you do not have an immobilizer fitted, check the difference in the insurance quotes. In case the ones with the immobilizer get lesser quotes, get your motorcycle fitted with one.
• Decrease the number of miles you ride every year so that you can avail of the Less Mileage Discount. Provide your typical annual mileage to the insurance companies when getting a quote.
• An old motorcycle with a small engine will help to keep the premiums down in case of a beginner.
• If you build up a "No claims bonus" it will help you in long run since it will lessen your insurance premium by a considerable amount.
• Try not to modify your bike in such a way that it enhances the performance of the bike since little modifications make a huge difference in the amount of premium paid.
• It is better to have a Third party Insurance or a Fire and theft Insurance than total loss coverage, if the original price of the bike is low.
• Try and get things done when it is renewal time.
• Check if the manufacturer is providing any kind of discount so that you can avail it since manufacturers do provide discounts when they launch a new product in the market.
• Check if there are any policy restrictions by your insurance company. Read the documents carefully and keep an eye on them after regular intervals since the clauses are time specific.

Be careful when you are providing information to the Insurance Company since any information that they find wrong would result in you not getting the money in spite of paying the premium regularly.


By Poushali Ganguly