Tips to Save on Insurance
7th September 2017
Motorcycle insurance is a necessity if you intend to ride on the road in the UK. And it can be a wise investment for off-road, track or show bikes due to the risk of theft and cost of replacement. Annual cover can seem like a costly hassle, but if you give it a little time and thought, you can save money, and in some cases it can be a big saving.
So check out our tips for saving on your motorcycle insurance and buy your cover in confidence:
- Consider further training
Advanced rider training and qualifications may lower your insurance
- Look at who rides your bike
Adding an older, more experienced rider could help to cut costs
- Do you really need pillion cover?
- How do you use your motorcycle - do you use it for work, commuting every day or just for occasional social trips and pleasure rides?
- Consider a smaller motorcycle:
A smaller, less powerful bike can save on your premium. Do you need a 1000cc sportsbike for a short commute to work every day, or would a middleweight naked be a better choice?
- Consider a classic motorcycle:
Older motorcycles can also give you a saving.
- Avoid modifications:
If you're adding expensive kit and performance parts, your premium will tend to increase
- Secure storage in a garage will reduce your premium rather than parking on the road.
- Motorcycle storage units are an alternative, but check whether the one you choose will be seen as a garage before you buy it.
- Check for garage exclusions - for instance, if you are still covered when your bike is parked outside your garage (for instance, if you've washed it and left it outside when drying).
- Even parking on a driveway or off-road on a front or back garden will reduce your premium.
- An alarm, immobiliser or tracker may help reduce your premium
- Security devices including disc locks, ground anchors and chains will also help. The main rating for the UK insurance industry is whether it is rated by Thatcham, although other ratings, such as Sold Secure do exist.
- Thatcham approved secure markings such as Datatag can also reduce your premiums
When You're Buying:
- Start shopping around with plenty of time before you need insurance.
Research has shown prices rise if you need cover in a matter of days rather than weeks.
- Don't accept your renewal quote without ringing up
Your insurer may not give you the best deal until you shop around and phone them to compare prices.
- Consider your excess. A higher excess will give a lower quote, but remember you'll have to pay up if something happens to your bike.