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Wednesday, June 23, 2010

How To Lower Your Motorcycle Insurance Costs

When you buy a motorbike, it is mandatory for you to buy motorbike insurance as per the government regulations. Since motorbike is a dicy vehicle, insurers tend to charge a higher premium for it. The type of motorbike & its horsepower will greatly affect the insurance premium. The motorbike with high horsepower will be charged a higher premium. So in case you require a fast, sporty bicycle, you will must spend more on the premium. But do not worry. They give you some useful tips on how to reduce your motorbike insurance premium without compromising on the performance.

Will the type of motorbike affect my insurance premium?

Before purchasing a motorbike, you require to find out the cost incurred in getting it insured. The motorcycles with higher horsepower would attract a higher premium. But you ought to note that there is a minor difference between the horsepower & performance. Get insurance quotes before purchasing a motorbike as there's lots of bikes that are not insured by the larger insurance firms. This will force you to make use of smaller insurers who offer below par services. Besides, they won't let you combine the motorbike insurance with the other products, making the deal very pricey.


Will installing any accessories affect my premium?


Fitting your bicycle with high-end accessories like disc locks, alarms, & satellite tracking will significantly affect your premium. Hence it is advisable to check with the insurance company about the accessories & security that can increase & decrease your insurance premium. Purchasing a tool costing a couple of hundred dollars will have a significant impact on your premium. Find out this information beforehand to let you negotiate with the dealer who can give you a lovely bargain.


What are the things I ought to make sure before opting for motorbike insurance?


Get lots of insurance quotes from various insurers for the motorbike you require to buy. Find out if installing security instruments & add-on accessories will impact your insurance premium. Check if it is feasible to reduce the insurance cost in case you park your motorbike in an area under surveillance.


By: Rashid

1 comment:

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