What To Look For With Bike Insurance

From scooters to sports bikes and super bikes to classic models, there are many different shapes and sizes of bike out there to choose from. Having an insurance policy in place is as important as the bike itself because without one, you cannot legally take to the roads.

Whatever type of bike you have, you probably won’t want to spend any more than necessary on insurance. If this is the case then you will be pleased to hear there are some easy to follow tips that help to keep the cost of your bike insurance policy down.

If you do have a modified bike then make sure you keep your insurance company informed of any changes. This is simply because the impact modifications can have on bike insurance is different compared to car insurance. As it goes, most modifications made to a car will raise the cost of the premium, whereas a minor modification to a bike doesn’t tend to cause much change. If a significant modification is made which adds notable value then the premium would rise accordingly.

Keeping your insurer informed of your annual mileage can also help. Insurers realise that the less mileage you put on your motorcycle then the less likely you are to make a claim, so drivers with a low annual mileage usually receive lower premiums as a result. Indeed, there is no point paying extra for time you haven’t even spent on the road.

Where you park your bike is also important. Storing your bike in a locked garage keeps costs down because the chance of theft is less likely. Use an approved alarm, immobiliser or tagging system and watch the cost drop further. What's more, exercise common sense when out and about and don’t park anywhere unsafe. By taking steps like this you can keep your premiums down and bank balance up.

A final tip on the administration side of things is to avoid assuming your renewal quote is the ‘best deal’. It may be easier, quicker and overall more convenient to simply renew your existing policy, but insurer’s change their rates frequently and there could be a better deal out there for you. Also, remember that if you don’t claim on your insurance then you grow your no claims bonus, which saves you money on a year-by-year basis until you reach a maximum discount.

And, it is good to know that there are many different types of policies available for both used bike insurance and new bike insurance. Of course, there is much to take into consideration with bike insurance but it pays to fully understand what to look for in a suitable policy.