Five tips for cheap bike insurance
05 February 2010 14:27
Everyone wants cheap bike insurance, but what can you do to reduce your premiums? Here are five simple tips that should save you money.
Tip 1 - Use your Garage
One of the best ways to ensure cheap bike insurance is to garage your bike at home. Some insurance companies will even go as far as not covering an ungaraged bike, others will charge an extra percentage on top of your insurance premium.
If you don’t have a garage at home, don’t panic – there’s still a way of getting the same (or similarly) cheap quote. If you’re able to rent one within a mile of your home – this can help bring the price of your policy down a great deal. Just make sure you tell the insurer that the bike is garaged, but away from the home address.
Tip 2 - Get some training
An insurance company will appreciate that you’re less of a risk on your bike (and reward you with cheap bike insurance) if you’ve undertaken further training after passing your test. Check our services directory for a list of approved training providers.
Cheap bike insurance could be just a short training course away – and beyond saving on your insurance premium, you’ll probably feel a lot safer on your bike, too.
Tip 3 - Stay in the UK
The motorcycle insurance premium for your bike is going to rise if you let your insurance broker know that you intend to leave the country and circumnavigate the globe on two wheels.
If you stay in the UK you’ll be rewarded with cheap bike insurance because you’ve avoided the sometimes risky badly-surfaced roads and drivers on the opposite side of them. And your bike is an insurance risk while it floats across the channel on the ferry, too.
So take your holidays at home, and you’re almost guaranteed to enjoy cheaper insurance.
Tip 4 - Get an alarm
Many insurance companies will give you a cheap quote based on how your bike is secured – whether that’s in your locked garage or on the street.
Some insurance forms offering discounts on your premium of around 10% you can be assured that fitting the right kind of lock can be a quick route to a cheap quote.
A Thatcham-approved device will be the most likely security option to net you some cheap bike insurance.
Tip 5 - Ride less
We couldn’t ever recommend that you ride your bike less – it’s what we all live for – but if you want very cheap bike insurance then it’s worth keeping an eye on how many miles you cover on your bike, and letting your insurance company know at renewal time.
Your premium will become more cheap the lower your annual mileage is; because you and your bike are on the roads less you’re deemed to be less of an insurance risk.
Remember to be honest when you fill in the form to get your quote – if you think you’ll be riding less than you did last year, tell someone – you’ll probably benefit from cheaper bike insurance as a result.
HS10 SM10 EM10 C10