Motorbike insurance can cost you a lot of your hard earned money each year. In this article you will find out about 8 different ways you can cut the cost of your motorbike insurance. The savings you make may add up to quite a bit of money over the years so it is usually worth the effort involved. So here are the ways to save on your motorbike insurance:
1. Well first of all, for those of you who have not actually bought your motorbike yet, you have an opportunity of getting your motorbike insurance down from the start by getting quotes for several different motorbikes that you are considering in order to find a motorbike with lower insurance costs. This is because motorbike insurance premiums can vary considerably depending on the type and model of bike that you go for. Another benefit of doing your homework before you buy your motorbike is that you avoid buying a motorbike which you later find out you cannot afford the insurance on.
2. When deciding which excess level to go for on your motorbike insurance policy, the best thing to do is to go for as high an excess as you can afford to pay in the event of claim as the higher your excess the less you pay.
3. If the bike you are insuring is an old one or does not have much value, then you can save some money by opting for third party fire and theft insurance cover instead of comprehensive insurance cover.
4. Some insurance companies take into account your credit record when deciding on how much your insurance premium is going to be, so make sure you keep a good credit record which is a good thing to have anyway.
5. It always pays to shop around different insurance companies to find the best deal and also bear in mind you may get a discount for buying online.
6. Avoid adding a young rider to your insurance policy if possible and keep the number of riders on your policy to a minimum, you pay the lowest amount by just having yourself on your insurance policy.
7. You should only have guest passenger liability on your policy if you actually do have guest riders on the back of your bike. If you ride alone always, then you can get your insurance down by not having the guest passenger liability on your insurance. However you must be aware that you must never have a guest rider on the back of your bike in this case as you will not be insured for this.
8. And finally it is a good idea to only make a claim when it is a large claim and try not to make smaller claims as this will keep your future insurance premiums down.
Miguel Poza runs a website about personal finance where you can find out about many free money saving tips and read other money related articles which will help you sort out your finances. You can check it out at http://www.moneyhelper.co.uk
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