One of the factors that make many shy away from getting themselves a good bike is the insurance coverage required. In addition to the car insurance, home and life insurance that you may have, adding another to the bundle seems like extra weight to most people.
The best news ever is that there is cheap insurance available. The insurance agents will not advertise it you but there are many ways to get those monthly premiums significantly lowered.
1. Looking for insurance before getting a bike
One mistake that most bikers make is getting the bike before they get the insurance. Others argue it is all the same. This is not a case of the chicken or the egg, it is definite that getting insurance before the bike is the order of things.
When you get talking to the insurance company about motorcycle insurance, you get to know of the options before, know the cheaper solutions, and not get surprised afterward.
You buy your bike according to your insurance and this way; you did not go bankrupt trying to buy insurance later on. When getting a bike, consider the insurance as well to know the total cost and if it fits your pocket.
2. Get a good but low-cost brand
Know that the superior the engine, the rarer the make, and the more exotic the brand is, the higher you are likely to pay for insurance. You will find this out if you carry out step one. When bike shopping, ask yourself, “why do I need the bike?” No need to buy a racing bike when all you need is a simple one to get you through the traffic.
(Photo credits: teliko82)
It may be tempting to get the fiery looking shiner bike but is it really worth it if it’s in the garage all day
3. Keep to the minimum coverage
When buying your coverage, be keen on what you buy. Some people end up paying for items they do not need. After you have fulfilled the liability coverage required by law, the rest might as well as be additional. Get them only if you are sure you need them. You lower your premiums by getting only the essentials.
4. Get the bundled insurance
A great way to lower those rates is giving all your insurance needs to the same company. This way your details are in one area and you benefit from the discount given to those who have multiple insurances. Get your car, home, and life policy insured under one roof.
This means you have to be keen on the overall policy of the company you choose to get a good deal. Some may have a great motorbike deal but their home or life insurance is not ideal. Research well or use a broker to get an all-rounded company.
5. Get certified training
No matter how good a rider you are, ensure that you are trained.
(Photo credits: nico1959)
The point of the training is to enhance your skills and get you a recognized certificate. Your premiums are lowered when you have more skill, more years of experience and are certified. For the insurance company, all these translate to less risk.
6. Keep your bike in the best shape
Ensure you keep your bike regularly serviced and in the best of condition possible.
(Photo credits: mikecogh)
This way, over the years, you can negotiate for fewer premiums in a month. After a few years of coverage, go for renewal since your bike has aged, and is in top condition.
A reduction in your risk ratio lowers premiums. Add also that you have bike safety training, you have an anti-theft device installed and you keep it in the garage when not in use. Take photos to back up your case.
7. Comparison shopping online works
Motorbike insurance should not be a hurdle for you. Make it easier to get by shopping online and comparing different service providers. Most online companies offer cheaper rates than those agents who will come knocking at your door.
Online shopping also enables you to compare different companies easily. The comparison helps you to compare prices and the quality of coverage as well. Seeing the difference in different companies opens your eyes to the possibilities for your bike.
At the end of the day, ensure you are insured, pay the insurance on time, and enjoy your bike to the fullest but safely!