Motorcycle insurance rates can vary based on several factors. For example, older riders will usually pay less for insurance than younger riders. Someone who has never owned a motorcycle will have to pay higher rates until they gain more experience. Your age or amount of experience are things that you have very little control over.
There are other insurance factors that you can control a little more closely. For example, where you keep your bike and the kind of bike you ride can directly impact your insurance rates.
Keep Your Bike in a Safe Place
Your motorcycle insurance company will want to know where your motorcycle is parked the majority of the time. If you usually ride it to work and park it on the street, there is a higher risk that the bike could be damaged or stolen. Try to find a place to park your bike where it is in the least danger. Covered parking garages with attendants are ideal. If you can’t find a covered garage, a private parking lot is better than a spot on the street. It also helps if you keep your bike in a garage while it is parked at home.
Compare as Many Insurance Quotes as Possible
Different insurance companies offer a wide range of motorcycle insurance rates. Each company ranks risk factors differently when they are determining how much to charge customers. It is in your best interest to research as many insurance companies as possible to find the one that fits your budget and your coverage needs the best. Many companies offer special discounts as an incentive for new customers. Make sure you find out if you qualify for any discounts that can reduce your rates without affecting your overall coverage.
Motorcycle Training Courses
If you can, try to take a specialized motorcycle driving course. Insurance companies will consider the training as an extra level of insurance that makes you a safer rider in general. Some insurance companies might require that you attend specific schools in order to qualify for a rate discount. Ask your agent about the potential rate decreases you could expect from taking a motorcycle safety course. Even the most experienced rider can learn new things from a class that is designed to keep riders safer on the roads. The time you spend in class will save you money and help you avoid dangerous situations.
Drive a Standard Bike
No matter where you store your bike or how experienced you are, if you drive the latest and hottest performance bike you will pay a higher insurance rate. The best way to keep rates down is to drive a stock bike that doesn’t have any special performance enhancements. Insurance companies consider the amount of power that a bike produces as a risk factor for more serious injuries in an accident. Keeping the injury possibility lower makes the potential insurance payouts lower, too. The safer your bike is, the less you will be charged for a standard motorcycle insurance policy.