Motorbike insurance premiums are calculated on a immense number of different factors & the figure that you get is a result of a long & complicated calculation method. However, there's positive key criteria that can have a giant influence on the motorbike insurance premium that you get three times you have tapped in all of your details.
The important Points
• Type & value of bicycle
• Riders Age
• Where you live (postcode)
• Riding experience & record (i.e. convictions & claims)
• Possession of No Claims Bonus
• If bicycle is garaged
• Security
• Type of cover (comprehensive, third party fire & theft, third party only)
Now the rider clearly cannot change a number of these factors such as age & their riding record, & others are impractical to change such as where the rider lives. Others though can be altered to make positive the motorbike insurance premium the rider has to pay is minimised.
Security
This can have a immense effect on the size of the motorbike insurance bill you will be paying if the bicycle is new/nearly new & is highly valued & can impact the premium by hundreds of pounds, & it obviously is the simplest thing to change. Thus an investment in a lovely security gizmo can immediately save you money in year one as the bicycle insurance premium can be reduced by over the cost of the gizmo.
Type of Cover
What type of cover is necessary is the rider’s choice & selecting TPO or TPFT than Comprehensive can reduce your motorbike insurance premium substantially provided you are OK with the reduced cover. For bikes of low value TPO is often the obvious choice.
Garaging
In areas where the risk of theft is high, e.g. in built up urban areas and/or the motorbike has a high value and/or is a prized bicycle, then being able to garage the machine overnight will significantly reduce any motorbike insurance premium. The garage will normally must be lockable & brick built, e.g. wooden or corrugated iron structures are usually not acceptable & it is standard practice for the bicycle to always be kept overnight in the garage when it is on the proposer’s property.
In case you do not have a garage do you know somebody who does who would be prepared to keep your bicycle overnight? This is normally acceptable to insurers. Think of that reduced bicycle insurance premium!
Type & Value of Bicycle
In case you have not yet bought the bicycle then it makes sense to think of the likely size of the motorbike insurance premium you will pay as you think about your options. In case you are under 21, & in case you have no no claims bonus, then any kind of sports bicycle will lead to a high bicycle insurance premium & the more powerful it is the higher the premium.
For somebody who has obtained a full licence, a less powerful mid sized “roadster” such as a Honda Hornet or Suzuki Bandit will lead to a much lower motorbike insurance premium.
In case you are purchasing a starter bicycle & riding it on a CBT, & in case you are under 21, to make positive a low scooter insurance premium, buy a brand new low value bicycle (worth less than £1000) & insure it TPO.
These are all the factors you have control over & ought to think about if enthusiastic to reduce your motorbike insurance premium as these are the ones that can have a substantial impact over what you will be quoted. There's others such as mileage in the year or whether you will be carrying pillion, but their impact will be much less.
Also, as said earlier, your age & driving/riding record cannot be changed (unless you select to be dishonest & as well as being morally open to doubt you run the risk of a claim being refused if your improbity is discovered). It might even be thought about a bit extreme to move to reduce a motorbike insurance premium.
By: Rashid
The important Points
• Type & value of bicycle
• Riders Age
• Where you live (postcode)
• Riding experience & record (i.e. convictions & claims)
• Possession of No Claims Bonus
• If bicycle is garaged
• Security
• Type of cover (comprehensive, third party fire & theft, third party only)
Now the rider clearly cannot change a number of these factors such as age & their riding record, & others are impractical to change such as where the rider lives. Others though can be altered to make positive the motorbike insurance premium the rider has to pay is minimised.
Security
This can have a immense effect on the size of the motorbike insurance bill you will be paying if the bicycle is new/nearly new & is highly valued & can impact the premium by hundreds of pounds, & it obviously is the simplest thing to change. Thus an investment in a lovely security gizmo can immediately save you money in year one as the bicycle insurance premium can be reduced by over the cost of the gizmo.
Type of Cover
What type of cover is necessary is the rider’s choice & selecting TPO or TPFT than Comprehensive can reduce your motorbike insurance premium substantially provided you are OK with the reduced cover. For bikes of low value TPO is often the obvious choice.
Garaging
In areas where the risk of theft is high, e.g. in built up urban areas and/or the motorbike has a high value and/or is a prized bicycle, then being able to garage the machine overnight will significantly reduce any motorbike insurance premium. The garage will normally must be lockable & brick built, e.g. wooden or corrugated iron structures are usually not acceptable & it is standard practice for the bicycle to always be kept overnight in the garage when it is on the proposer’s property.
In case you do not have a garage do you know somebody who does who would be prepared to keep your bicycle overnight? This is normally acceptable to insurers. Think of that reduced bicycle insurance premium!
Type & Value of Bicycle
In case you have not yet bought the bicycle then it makes sense to think of the likely size of the motorbike insurance premium you will pay as you think about your options. In case you are under 21, & in case you have no no claims bonus, then any kind of sports bicycle will lead to a high bicycle insurance premium & the more powerful it is the higher the premium.
For somebody who has obtained a full licence, a less powerful mid sized “roadster” such as a Honda Hornet or Suzuki Bandit will lead to a much lower motorbike insurance premium.
In case you are purchasing a starter bicycle & riding it on a CBT, & in case you are under 21, to make positive a low scooter insurance premium, buy a brand new low value bicycle (worth less than £1000) & insure it TPO.
These are all the factors you have control over & ought to think about if enthusiastic to reduce your motorbike insurance premium as these are the ones that can have a substantial impact over what you will be quoted. There's others such as mileage in the year or whether you will be carrying pillion, but their impact will be much less.
Also, as said earlier, your age & driving/riding record cannot be changed (unless you select to be dishonest & as well as being morally open to doubt you run the risk of a claim being refused if your improbity is discovered). It might even be thought about a bit extreme to move to reduce a motorbike insurance premium.
By: Rashid
I've been having a hard time deciding on a calgary motorcycle insurance company. There are so many and I'm not sure what works best for me.
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