You came up with the bright idea of trading in your car for a motorcycle. It’s a smart move right? Save on gas, repairs, upkeep, and emissions, right? While you will save on all those aspects of owning a motor vehicle, you may however not save on insurance. Motorcycle insurance is very expensive unfortunately.

Motorcycle insurance covers the owner/driver against the typical events that will occur with a bike, accidents and theft. Both are held in different regards. Insurance considers motorcycle’s “solo event,” because the driver is usually by there self and only poses danger to there self.

Compulsory insurance for motorcycles is relatively cheap. It becomes expensive when fire and theft are added into compulsory policies. You need theft coverage however insurance companies hate it. Why? Well, stealing motorcycle parts or whole motorcycles is much easier than stealing a vehicle. It’s cause for concern and you really need the added coverage.

Also, insurance companies receive a lot of claims dealing with horrific injuries to the motorcycle driver and or passengers when they are exposed to an accident. Motorcyclists are not protected well, especially when you take into fact that they are traveling anywhere from 30-100 mph’s, are not protected by the vehicle, do not wear seatbelts, and are totally exposed to other traffic. Because of this, you can expect high premiums.

Insurance companies cannot kill their integrity by jumping to conclusions when it comes to calculating costs and risks of motorcycles. Accidents and theft do happen, but the majority of bike riders are safe and smart on the road. The insurance company will also drop the rate if the driver is older, very experienced on a bike, and rides a bike that is not overly powerful.

While the driver’s age and riding experience is import, the insurance company cares more about past speeding and driving offenses as well as number of accidents the driver was involved in. If the number is low, the premium will be cheaper. Car and motorcycle insurance really pays off for drivers who are careful on the road.

If the driver uses the motorcycle only as a secondary form of transportation, than expect an even lower premium. If you only plan to take the bike out on the weekends or on holidays, inform the insurance company. Insurance companies understand your desire for a motor bike and are willing to work with you to reach a satisfactory premium.

Graham McKenzie is the content Syndication Manager at insurance123.co.zaSouth Africa’s leading Motorcycle Insurance information portal

Tags: Bike Insurance, bikes, finance, insurance, Motorcycle, motorcycle insurance

Where can you find cheap motorbike insurance? Certain factors have an effect on how the companies can rate your premium like :

1) Your motorbike – like cars, if you have the newest, flashiest more expensive motorbike then you will pay a higher price. If you’re new to motorcycles, it’s a good idea to go for an older model to start with. Apart from lowering your policy charges, it’s better to hone your new skills on an older motorbike than a newer machine.

2) How long you had your license? If you have only just got your licence the chances of you being in an crash are statistically quite high and this can make the insurance broker nervous. You’ll be able to improve your risk profile if you complete some advanced riding courses and post your certificates to your insurance broker.

3) Your age – once more statistically teenagers and younger drivers are more prone to have accidents due to immaturity combined with a scarcity of driving experience. Not all young drivers behave irresponsibly but they do end up paying the price of the others. All you can really do is establish that you are responsible and mature by not getting into any bother and steering clear of crashes. Building up your no claims bonus is one way to lessen future premiums.

4) How you plan to use your bike? – If you are going to ride to work each day, you will pay higher fees than someone who solely uses it for informal rides at the weekend. The issue does not always lie with the biker but with careless car drivers who seem to suppose motorcycle owners are each invisible and invincible,if they run over you, you will walk away. Sadly as we all know this is not true. Also where you park your bike can have an effect on your policy.

5) Your driving history can be taken into account together with any collisions you had while driving a vehicle. Yes I know it is like comparing apples and oranges but the actuaries are looking for trends.

So now you know how they work out your application , what other tricks will you employ to reduce your costs?

You need to look around for quotes as they’ll vary significantly between one insurer to the next. You ought to increase your deductibles. If they perceive that you are prepared to take on some of the risk, they will reward you with reduced costs.

If possible attempt to fit security devices to your bike to help avoid it being taken i.e. alarms and immobilizers’. Park your bike within the garage and not on the driveway. If you do not use the motorcycle to get to the office, you should qualify for a reduction as your mileage and thus your likelihood of being in an incident is reduced.

One more way to improve your costs is to make sure you’re not over insured as some insurance policies such as your household or medical might offer overlapping cover. Cheap motorbike insurance is available; you now know how to get it!

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Tags: finance, insurance, motorcycle insurance

When it’s time to buy motorcycle insurance, you can’t go wrong considering the following four factors before you shop. Insurance companies pretty much all think alike. And these are the risk factors that they always consider when they figure your rates.

1. Experience and age of the driver — of course you can’t make yourself any older or instantly change your driving record but be aware that these are major factors in the rate calculation. The more driving experience and the fewer accidents on your record the better you will do with insurance companies.

Drivers of any age can make a difference in their rates by taking a motorcycle driving safety class. Not all insurance companies, but many will give credit for the successful completion of a certified safety class.

2. Motorcycle age and cost — Since it costs the insurance company more to replace newer more expensive bikes, it naturally costs more in insurance premiums to own one. Bike modifications can also significantly increase replacement and insurance costs. Don’t do them unless you’re willing to pay.

If you haven’t purchased your bike yet and particularly if you’re a first-time biker, consider getting an older, lower powered model to cut your teeth on. Newer bikes and bigger engines increase the cost of replacement and the risk of an accident, so insurance companies naturally charge more for these.

3. Storage and security — store your bike in a secure area and the insurance company will take notice. You will typically get lower rates if the bike is stored in a locked garage as opposed to outside on the street, for example.

Bike security devices when you’re out of the road can also make a difference with your insurance rates. For less than $100 you can buy and install a bike immobilizer that makes it more difficult for people to take your bike and thus reduces the cost of theft coverage.

4. Safety for drivers and passengers — most if not all states require you to wear helmets these days. If you don’t you can be sure the insurance company will charge you more simply because the risk of a serious accident is much higher. The company may also give rate reductions when you use other safety equipment. Check to find out.

Insuring passengers is expensive but necessary. Make sure they wear the same safety equipment and have the same coverage as you. You may not realize it, but bikers are sued more often by passengers than anyone else. If you typically do not have passengers you should be able to pay less for your insurance.

If you have already purchased your bike some of the above factors are already set. But eventually you may buy another bike and over time your driving record will also change. Keep the above insurance secrets in mind, because a little common sense can go a long way to reducing your insurance bill.

Dan Danmenn enjoys writing helpful reports and internet sites for motor-bikers on how to save money on insurance. If you learned something from this piece you might also enjoy his newest website Motorcycle Insurance Quotes where you can learn more about buying Cheap Motorcycle Insurance

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