It doesn’t matter which type of insurance you’re looking for; all insurers need to take into account a number of factors such as your age, address and occupation. These things cannot be changed, at least not for the sake of your insurance, so you’re probably looking at how you can decrease the amount you pay in other ways. That’s why we’ve put together a list of money saving tips to keep down the cost of your motorbike or moped insurance cover.
Make sure it’s secure
A lot of motorbike insurance claims are the result of theft which proves that it’s important to keep your bike secure. Look at installing an alarm, tracker or immobiliser that can not only act as deterrents to thieves but will prove to your chosen insurer that the appropriate security measures have been taken, thus reducing your premium. If you have a garage, it’s definitely worth keeping your bike out of sight too.
Be honest about your mileage and ownership
It’s not difficult to declare a mileage that is higher than what you actually cover, so it’s always worth keeping track of this. At the same time, you need to be honest about the amount of time that you’ve owned the vehicle as it proves how much experience you have with riding your bike. If you’re dishonest, you will find it more difficult to claim if any issues arise.
Opt for a multi-bike policy
Perhaps you’re lucky enough to own more than four bikes. If so, shop around for a multi-bike policy rather than a separate one for each bike. You’ll be surprised at just how much money you can save doing this. You also need to take into account who it is that rides your bike. If you’re looking to insure someone who has past driving convictions, it’s going to be a lot lower than insuring someone with a clean history. If you are looking for moped insurance for ages 16+, sites such as Call Wiser can help. Additionally, motorcyclists can usually cut their premium by around 10% if they choose to ride alone rather than with a passenger.
Complete an advanced riding course
Improving your driving skills will only stand you in better stead when it comes to renewing your insurance. Therefore, gaining an additional qualification such as through the Institute of Advanced Motorists, the British Motorcyclists Federation or the Royal Society for the Prevention of Accidents is sure to lower your premium.
Increase your voluntary excess
As with car insurance, increasing your voluntary excess will mean that you’ll be provided with a lower insurance quote. However, you need to remember that in the event of a claim you’ll have to pay this excess before you’re allowed on the road again.
Choose a cheaper bike
Yes, something as simple as choosing a less expensive motorbike will mean you’re paying less insurance. Depending on the insurer, there are usually around 17 to 22 different groups in which motorbikes can be assigned into. Naturally, those who fit into lower groups (1-3) will end up costing you less. You should also stay clear of any modifications as modified bike insurance will end up costing you more if you happen to be involved in an accident.