Top tips for reducing the cost of insuring your motorbike.
The cost of UK cheap motorcycle insurance can be attributed to five main factors:
- Rider (age, driving experience, points on license etc.)
- Motorcycle (make, model and cc of bike, is it modified? Any additional riders)
- Location (post code, is the bike parked in a garage etc)
- Usage (private or business use, do you intend to carry pillion passengers?)
- The Insurance Company (what is the insurer's specialist area? What level of insurance cover do you require?)
There are steps you may be able to take that can reduce your premium:
- Voluntary Excess - agree to increase the excess you would pay in the event of a claim being made.
- Security - have an insurance approved lock and alarm combination. Attach your bike to an immobile object with an insurance approved lock.
- Limit Mileage - agree to limit the number of miles you will drive, eg. less than 5000 miles a year.
- Shop Around - discussed in more detail below
It is important to get your insurance cover right as it often has a bearing on which motorbike you may eventually choose to purchase and be able to ride.
Premiums can vary considerably from one insurer to the next. The answer is to shop around. There is no charge for obtaining a quote. The only cost is your time. This is where an insurance broker can help.
Insurance brokers obtain quotes from a number of insurers on your behalf in order to find you the best deal. Some brokers are able to compare hundreds of policies in a matter of seconds.
However, insurance brokers are unable to get you a quote from the 'direct insurers. We recommend getting a quote from a few 'direct insurers' as well as from a broker. You may find some insurers offer a further discount when you purchase their motor bike insurance online.
