Ways to Lower Your Motorcycle Insurance Premiums

You may feel that your motorcycle insurance rates are far too high. If so, you’ll be excited and happy to know that you can lower those monthly payments and get your motorcycle insurance bill lower and under more control. Below are five great ways you can cut costs and lower that motorcycle insurance.

Downsize – The size of your motorcycle can make a big difference in the cost of your motorcycle insurance. Of course a cruiser is going to cost much less than insurance for a sport motorcycle would be. The risks involved in a cruiser are going to be far less than what they are in a sporty bike. Therefore, you will pay the insurance prices to have a sporty bike versus a cruiser. Risk is the biggest deciding factor in insurance costs and those bikes are much riskier. As well, a motorcycle with a larger engine is going to cost more. These bikes are going to go much faster and again that leaves the risk at a higher factor in the eyes of the insurance company. New motorcycle coverage is going to be much higher than coverage for a used motorcycle because new motorcycles are going to require full coverage.

Higher Deductibles – A good way to reduce your motorcycle insurance rate is by raising your deductible amount. When you agree to a higher deductible amount, that means if you have an accident or have to file a claim, you will have to pay more out of pocket upfront. The flip side of that is that your monthly premium costs are going to be much lower.

Over Insuring – If you take on too many insurance coverage options that you may not need you are over insuring yourself. Always go with the basic coverage that is necessary only. Always carry your minimum amounts for coverage and don’t under insure yourself either. Make sure you have the cost of the bike covered in case something happens and it has to be replaced or you can lose money.

Bundling Insurance – Make sure if you have any other type of insurance like cars, homes and more to bundle them all into one package with the insurance. Having more than one policy can get you a multi-line discount. Most all insurance companies will give a discount for bundling. They have more of your business and you have less money to pay them so it works out to benefit both of you.

Training/Certification – Another piece of news to know is that most all insurance companies offer a significant discount for those who go through a motorcycle course for safety. This helps you become more knowledgeable in the safety rules for motorcycles and a better rider. Insurance companies are great about rewarding those with a good discount for the classes taken or any motorcycle certification classes you may go through.

Try some of the above tips for lowering the cost of your motorcycle insurance premiums and see how much money you can start saving now.

Author’s Bio – Jessica Thomas is a blogger for Motorcycleinsurance dot com covering all kinds of home ownership questions, concerns, and industry news.

Image courtesy:  FreeDigitalPhotos.net

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