4 Secrets to Saving Money on Motorcycle Insurance

4 Secrets to Saving Money on Motorcycle Insurance

  • If it has a motor and two wheels, and you sit on it to ride it, you need motorcycle insurance. Just like auto insurance, the insurance company assesses your risk based on factors like age, the type of motorcycle, where you live, your driving record, how far you ride, and where you park your bike.


    Obviously, there are quite a few variables – some that are on the list, and some that aren’t. Here are some not-so-obvious ways that you can potentially knock some serious dollars off your motorcycle insurance premiums.


    1) Shop Around

    Then shop around some more. This sounds obvious, but shopping around is even more important for motorcycle insurance because different insurance companies view different bikes… well… differently. Very differently.


    Finding the right insurance underwriter could save you hundreds of dollars per year. Take it a step further by bringing your lowest quote to other providers and see if they’ll beat it.


    2) Become a Better Rider

    Well-trained riders are less of a risk for insurance companies, so it makes sense to reward riders who complete training courses. For example, every major insurance company in the country that provides motorcycle coverage offers a discount to graduates of the Motorcycle Safety Foundation’s training courses.


    Complete the street-riding course and get the discount for three years. Then take a refresher and get the discount for another three years. You learn the safest riding techniques and you save money. No-brainer, right?


    3) Pay Your Bills

    Wait a minute. Motorcycle insurance is affected by your credit score?! Well, not exactly – but staying on top of your bills can definitely have an impact on your premium.


    Believe it or not, insurance companies reward people who don’t take risks with their money. The idea is that this kind of person will also be less risky with their life and motorcycle. This is part of what they call your “financial responsibility score” and it could dramatically lower your motorcycle insurance premiums.


    4) Keep Your Motorcycle Secure and Protected

    Use an alarm. Keep it in a garage or trailer. And use the Biker Bar. Straps are much less likely to impress insurance companies than the Biker Bar, which reduces the risk of a motorcycle tipping over because it locks into place with stainless steel clamps.


    Also, because it only takes seconds to load and unload your Harley Davidson, you’ll be much more likely to use the Biker Bar to keep it stable and secure every time you park it. It’s not unrealistic to expect to cover the cost of the Biker Bar with a few years’ worth of motorcycle insurance savings.


    What factors have enabled you to lower your motorcycle insurance premiums?