Find out all you need to know about cutting the cost of scooter insurance.
While scooters are undoubtedly one of the cheapest modes of transport to insure, the exact cost depends on a whole host of factors. So, to help you get the best deal possible we explain exactly how an insurer decides what premium to charge you.
When completing quotes it’s essential that you answer honestly as an insurer is unlikely to pay out a claim if you’ve given them false information. Having said this, if driving down the cost of your scooter insurance is important to you there are ways and means.
Your age - While there is little you can do about your age, it’s worth knowing that younger riders do tend to pay more for scooter insurance than older riders. This is due to the ‘risk statistics’ insurers use to determine how likely any rider is to make a claim. If you remain claim free the cost of your insurance should go down year on year so, if your policy renewal is more expensive than what you paid for scooter insurance last year, it’s a sign that it’s time to look around for a different insurer.
Your gender - Most insurers see female drivers as being less risky to insure as statistically they are less likely to make a claim. Again, while there is nothing you can do about this, it is the reason why the cost of scooter insurance tends to be considerably cheaper for ladies.
Your riding experience - Drivers with more experience are seen as less likely to make a claim so will often attract cheaper premiums. Many insurers offer a discount for riders who have completed an advanced riding certificate so this could be looking into if you’re looking for ways to reduce the cost of insurance for your scooter.Those with a history of driving offences and convictions on the other hand will end up paying more for insurance as they will be considered as a greater risk.
Your location - Where you live, work and ride will have a considerable impact on the cost of insuring your scooter. Those who live in what insurers deem ‘higher risk’ postcodes, where thefts and accidents are more often reported, will usually end up paying more for their insurance than someone who rides in a ‘safer’ area. While there is little you can do about where you live, storing your scooter in a secure location such as a garage when it’s not in use will help you to reduce the cost of your cover.
Your bike - Unfortunately, the more expensive your bike is to repair or replace, the more expensive your cover as an insurer will want to mitigate themselves against the risk that they will need to pay out in the event of its loss or destruction. Many insurers will however offer you a discount if you have security features such as an alarm, immobiliser or secure lock fitted as this will help to deter thieves and reduce the likelihood it will be stolen. Any modifications, particularly de-restricting the manufacturer’s pre-set speed, will make the cost of your policy more expensive so it's best to avoid these.
Your usage - Any potential insurer will be interested in finding out how and when you ride your scooter. Be sure to give them an accurate picture and let them know whether you ride your scooter for commercial or purely domestic purposes. Additionally, many insurers will offer you discounts for limited mileage agreements, whereby you agree not to exceed a certain number of miles (usually around 5,000 although this is variable) in a policy year. The fewer the miles you agree to cover, the cheaper your policy will be so it’s worth trying to estimate this to a fair degree of accuracy. Do bear in mind though that if you exceed this limit some insurers will not pay out in the event of a claim, although most will allow you to upgrade your mileage cap during the policy year if needs be.
Your excess - A policy excess is the amount of any claim that you will need to pay yourself. Insurers usually apply a compulsory excess to scooter insurance policies however, you also have the option to add a voluntary excess to the policy. Opting for a higher voluntary excess is likely to cheapen your policy considerable, however you should only consider doing this if you will be able to afford to pay it out in the event of a claim.
Remember, as premiums, as well as the level of cover provided can vary greatly from provider to provider, to make sure you get the best deal possible it’s best to take the time to compare quotes from a number of different insurers.
