There’s nothing motorcyclists love more than getting out and riding on a clear, sunny day. Whether you’re a cycling newbie or have been riding for years, motorcycle insurance costs might not be your favorite thing to think about. However, it’s important to become familiar with every aspect of your bike to understand how different factors can make motorcycle insurance rates drop or increase. Take care to understand these five factors and you might be able to lower your motorcycle insurance costs with just a little effort.
Personal Driving History Affects Motorcycle Insurance Costs
Just like with cars, older drivers will typically have lower rates; however, that doesn’t mean motorcycle insurance costs are calculated simply by age. A driver’s experience with a bike — that is, how long he or she has been riding one — also factors into the cost to insure a rider. A driving record is also a big determining factor. Riders who have a history of safety will enjoy lower premiums than a rider who’s had an accident or other traffic violations.
Training And Experience
Some companies offer reduced rates to riders who successfully complete a professional motorcyclist safety course. If you’ve taken one of these courses, it’s important to let your agent know. He or she may be able to reduce your premiums if you provide them with a safety course certificate of completion. If you haven’t taken one, contact your agent or your county’s Department of Motor Vehicles for information on how to find one.
How Often The Bike Is Driven
There are different types of riders. For example, someone who only takes his or her bike out on a weekend joyride may have lower premiums than someone who uses their bike as a primary source of transportation. This is because of simple probability – the less you ride, the lower your chances of an accident.
Location, Location, Location
You’ve probably heard this phrase in relation to real estate, but location also has a lot to do with your motorcycle insurance rates. A company will want to know if you’re located in a high crime area, if there is heavy traffic or if there are multiple accidents surrounding your home.
Your agent will also ask where you work since this is likely where your bike will be parked a great deal of time. Construction workers, for example, will typically have higher rates because of the danger associated with where their bikes are parked.
What Type Of Bike Do You Have?
It makes sense that a newer bike will cost more to insure. This is usually because newer bikes typically have fancier features and more bells and whistles than an older model. If you’ve tricked out an older bike with upgrades, though, you could be looking at higher costs. Essentially, the more basic the bike, the lower your insurance costs.
If you’re interested in finding lower motorcycle insurance rates, ask different agents to find the best deal. When you’ve found one, be sure to check in periodically to see if there’s anything you can do to lower your rates even further.