ten ways to cut the cost of bike insurance

There are many tips and tricks we’ve picked up in the industry that can help to reduce the cost of insurance. See if you can bring your policy down with these ten top tips.

1. Compare Policies

Shopping around can save you hundreds of pound each year! It’s easy to stick with the same provider and let your insurance policy roll over year after year. Be sure to compare quotes and find the best insurance deal for you.

2. Pay Annually

It may be more difficult to find the money to pay your insurance in one lump sum. A good tactic for this is to put the money to one side every month, as you would pay your bill. Then when the annual payment comes around you have the full amount. Hopefully, your policy will have gone down as long as you haven’t had any unfortunate incidents occur. Who knows, you might even have a little left to treat yourself with! A new bike accessory perhaps?

3. Add or Lose Riders

Depending on your experience as a rider, it may work out cheaper for you to add a more experienced biker. Or, you may have another person on your policy who may be raising the price for you. Equally, you may want to remove this person to bring the cost of our policy in line with your preferred budget.

4. Lock Your Bike

This may sound simple. But by proving to insurance companies that your bike is locked away safety, particularly at night, will lower the cost of your policy. It is a good idea to invest in a sturdy lock too. Decent locks also act as a deterrent to thieves.

5. Avoid Modifying

Unnecessary modifications can hinder the cost of an insurance policy. This is true across most vehicles, including cars and bikes. Modifying a vehicle can often be done with the intention of making the vehicle faster, and mostly this means the vehicle, therefore, becomes more dangerous. Bringing a higher potential for accidents.

6. Take Courses

Additional courses can give a rider extra experience, which will be taken into account by insurance providers. Any extra qualifications you can get in regards to driving will help to bring your policy down in price.

7. Buy a Smaller, Older Bike

The older your bike is, and the smaller the engine can contribute to having a lower cost of an insurance policy. This is not always the case when taking some classic bikes into account. But generally, a bike with a smaller engine will be easier to insure. Again, this is similar to most car insurance policies too.

8. Watch Mileage

Be aware of the miles you are travelling. Take into account the mileage of a bike before you decide to go ahead and purchase it. An older bike with higher mileage may be considered to be less safe than a new bike, and therefore cost more to insure. Hopefully, all bikes are safe, even with all mileage – but it this would be taken into consideration with insurance companies.

9. Build No-Claims

Building up your no-claims bonus will help to drop your insurance policy. This applies across all vehicle policies too. Bikers always do their best to avoid accidents as they tend to be the ones that come out of accident worse off, due to the lack of protection. So being especially careful when driving will not only keep you safe but also save you money.

10. Only Pay For What You Need

There are plenty of extras that can be added on to insurance policies. Not all of them are needed. Make sure that you are only paying for what you use. For example, if you have added a rider to your policy but they no longer ride then removing them may bring our policy down. Find out all about insurance extras, and what you do and don’t need here.

Find & compare the best bike insurance quotes with motorly here.