The cost of bike insurance is largely because of statistical research. Knowing the numerous factors that have an influence on how much you pay for your insurance policy can help you save a substantial amount of money when renewing or taking out a new policy.

Numerous factors will play a role in figuring out your insurance expenses. The elements that influence how much you pay for your premium may include: style and kind of bike, age and sex of the rider, what type of bike security there is and the amount of mileage on the bike- to name just a few.

Bike insurance providers realise the potential for theft or damage to your bike. If you can prove that you protect your bike from theft or damage then you can lower your insurance costs. Therefore, consider where you store your bike – it’s best to keep your motorcycle in a garage that is locked at night. Also, ensure your bike is secured with an approved security device.

Speeding violations can lead to higher insurance costs. Savings can be achieved by maintaining a clean driving history and not having any points subtracted from your license. Through driving safely and cautiously you can not only keep your bike running and looking great, but you will also have the advantage of a no-claims bonus when renewing your motor bike insurance.

If you are an older or experienced bike rider then there is the possibility to achieve discounts on your insurance. History shows that older bike owners usually file less claims, whilst younger bike owners are a greater risk for accidents. However, young riders don’t need to wait years to get lower premiums. Riders that have passed Compulsory Basic Training can expect lower insurance premiums if they get a full license. Further discounts can be realized with certain bike insurance providers if the owner passes the Institute of Advanced Motoring’s Advanced Motorcycling Test.

You need to be aware that faster bikes and older bikes are a higher risk to insurance providers. The age, style, make and kind of the bike you have will all have an impact on the value of your policy and should be taken into consideration prior to purchase. The older the bike and the greater distance it has driven will mean wear and tear, making it a larger chance of breaking down.

Source by Doug Arnold

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