Don’t get stung by high motorcycle insurance premiums, shop around for the best deals and use your circumstances to your advantage
When it comes to insuring your bike, you want the maximum amount of cover for the most reasonable cost. Insurance cover is not just a legal requirement, it is also your first port of call should the worst happen. Road accidents, theft and even damage are all covered by motorbike insurance polices, but the costs can vary dramatically depending on your own personal situation.
Here are just some of the factors that insurance companies use to calculate their premiums. Get them to work for you, and you could decrease your costs by a sizeable amount.
Bikes that are second hand, cost less to buy and have smaller engine sizes are almost always cheaper to insure than brand new ones. This is because repair and replacement costs tend to be lower on an older bike.
Certain makes and models of bike also attract lower premiums, so always research which insurance group your new bike falls in to before committing to buy.
Modified bikes are a no-no if you want to keep your insurance costs down.
This sounds pretty obvious, but a bike that is kept locked away out of sight is usually more attractive to an insurer than one that is kept on a driveway. Keeping your bike in a brick or concrete garage is the preferred type of storage, but always ask your insurer what else they consider acceptable prior to purchase.
Nobody wants their pride and joy nicked, so take precautions and ensure it is locked at all times. This is obvious, but also something that insurance companies take into account.
Additional security measures such as immobilisers, alarms and trackers are all much more secure than old fashioned locks and chains.
If you enjoy a trip out on the weekend, or only use your bike for pleasure, this can help to reduce your premiums. If you use it for your daily commute, your risk of accident is considered to be higher and therefore this will add to your premium amount. Your insurance company will ask you to disclose if you use your bike for the following:
Much like car insurance, motorbike insurance also benefits from an accrued amount of safe driving with no claims. Speak to your insurer direct, but having a decent level of no claims bonus can definitely help to reduce the cost of insurance for your bike.
If you don’t need a policy that is full of whistles and bells, and are only looking for intermediate cover, then find a policy that suits. Paying for more than you need will obviously increase your premiums. The most common types of motorbike insurance are:
This is the minimum level of cover required by law in the UK and includes liability for damage or injury to a third party as well as damage to property.
This will protect you from claims made against you as the result of an accident, as well as offering cover for damage caused by fire, your bike being stolen and any damage caused to your bike during theft or attempted theft. It does not include personal injury cover.
Comprehensive cover generally allows you to claim for any damage to your motorbike including accidental damage to your motorbike and vandalism. It will also cover medical expenses in the case of personal injury.
With TPFT and Comprehensive policies you can choose how much you want to pay as a voluntary excess in the case of a claim. The higher the excess, the lower your premiums will be. As a guideline, most insurers will expect you to pay anywhere between £100 – £250 out of your own pocket before they part with any of the their money.
However you choose to insure you motorbike, keeping it safely locked away and in good condition can reduce the risk of theft or damage, to you or your bike.
Most of the insurance comparison websites will offer you motorcycle insurance quotes but The Bike Insurer is the only motorcycle-specific insurance comparison website out there and will search over 30 insurance providers to get you the best deal.
If you’re thinking of buying a new motorcycle but you don’t know what it’ll cost to insure. Check out our super-simple motorcycle insurance estimator tool. Get an accurate quote in under a minute.