How to Find Low-Premium Motorcycle Insurance

Even though motorcycles and motorbikes are more economical than cars and truck, their insurance rates can be quite high since motorcyclists are more vulnerable to injury than car drivers. Luckily, there are ways to reduce your premiums and get an affordable quote. By implementing the tips below, you may be able to cut your motorcycle insurance costs by 20%-50%.

First, try to consolidate the insurance on all the vehicles in your household. When everybody's vehicles are under one insurance policy--whether the vehicles are cars, trucks, motorcycles, or recreation vehicles--each individual's burden is much lower.

Find an insurance company that offers several good driver discounts. Motorcyclists can reduce their rates by having accident-free and claim-free years, by completing safety and driving courses, and simply by being a mature rider. Some insurance companies offer discounts to enrolled students with good grades. Save your report cards if you are in high school or college.

Take your bike to a licensed shop for maintenance. If you work on the bike yourself, get a certified inspection. Send the inspection paperwork to your insurance company to get a safe vehicle discount. Motorcycles that are in good working order are less likely to malfunction, and for that you will be rewarded with a lower rate.

Opt for a higher deductible on your motorcycle insurance policy. The more you agree to pay out of pocket for repairs and claims, the lower your premium will be. Just keep in mind that you don't want to choose a deductible that is too high in case of a serious accident.

Check your state's minimum requirements for motorcycle coverage. You can save a lot of money on insurance by dropping extras from your policy. This may include vandalism coverage or gap coverage. These are nice extras, but not essential.

When buying a motorcycle, look for vehicles that are affordable, fuel efficient and have a high safety rating. Insurance companies reward owners of "green" bikes. Classic and collectors' bikes tend to be gas-guzzlers that come with hefty insurance rates.

To reduce the chances of getting into a serious accident (and filing a huge insurance claim), always wear a helmet and obey the posted speed limits. And don't lend your bike to unexperienced or reckless drives; if an unauthorized operator wrecks your bike, your insurance may not cover it!

© Had2Know 2010