If you are interested in purchasing a motorcycle this year, there are steps you can take to make sure that your motorcycle insurance premium is priced at a rate that you can afford. Saving money on coverage for motorcycles starts with the bike that you purchase.
Go for A Smaller or Less Powerful Bike
The first thing that you need to do is be careful about the motorcycle that you purchase to ride. Just like with cars, the make and model of the motorcycle that you purchase is going to affect the price of your motorcycle insurance. Motorcycles that have less powerful engines as well as older bikes that were not that expensive to begin with often come with more affordable insurance premium rates.
It is not enough for a bike to have a less powerful engine; you also need to look at how the bike has been modified. If the bike has a lot of aftermarket modifications, this will drive up the cost of your premium. Aftermarket modifications and special parts will drive up the cost of repairing your motorcycle and thus the cost of your insurance premium.
If you purchase a bike that is foreign made, this could also drive up the cost of your motorcycle insurance premium as important parts can be more expensive to replace in the case of an accident than a domestically made bike.
Increase The Security On Your Bike
Another way to save money on your motorcycle is by making sure that it has security measures in place. You can install an electronic alarm on your motorcycle. You can also put an immobilizer on your bike as well. Both of these security measures will help decrease your motorcycle premium costs.
Keep Your Mileage Low
Finally, let your insurance company know how often you plan on driving your motorcycle. If you plan on using your motorcycle for your daily commute, you are likely to pay more for your insurance premium than if you only ride your bike on the weekends. The more you ride your motorcycle, the higher the risk is that you could get in an accident because of the additional time you spend on the road.
If you want to keep your motorcycle premium low, purchase a bike with a smaller engine and an older model. Avoid modifications or expensive parts on your bike. Keep your mileage low and increase the security measures on your motorcycle.