Motorcycle cover may not be as dearly priced as it is likely to break your wallet. Most riders are unaware of discounts and benefits that come with motorcycle insurance; and this could be costing quite a sum of money. Be it a new rider or a veteran, finding thousands of ways in which you can benefit from reductions in the motorbike insurance rates is possible.
In this article, we will bring some surprises to those lesser-known motorbike insurance discounts along with the best tactics to navigate around and find the best rate for your coverage.
Why it is important to know about Motorbike Insurance discounts ?
Motorcycle insurance is a premium consideration, taking into account the different locations and ages, riding history, as well as the type of bike in question. Nevertheless, motorcycle insurance discounts are considered great ways of dropping the prices of costs incurred. By learning what type of discounts insurance providers have, one can bring significantly down monthly premiums and increase the income coming into your pocket.
7 Hidden Motorcycle Insurance Discounts You May Not Know
Here are seven motorcycle insurance discounts you may never have learned about:
- Protective Gear Discounts :
Did you know that some insurers give discounts for wearing protective gear while riding? Insurance firms know that riders buying quality helmets jackets, gloves, and boots have the least chance of sustaining injuries in an accident. You may, therefore, be given a motorbike insurance discount because of your safety devotion. If you wear gear, get ready to enjoy this discount. It will surely save you money as well as make you safer on the road.
- Anti-Theft Devices Discount :
For instance, GPS trackers, alarm systems, or immobilizers are some devices you should install for the motorcycles to qualify for discounts in motorbike insurance. They lower one risk that most insurers are concerned about-theft risks. Don’t forget to inform your insurer of any anti-theft precautionary measures added to your motorbike. This may have a considerable bearing on the reduction of your premiums.
- Safe Rider Discount :
One thing that most companies do offer is a safe rider discount. This discount is normally applied to riders who have taken part in a recognized motorcycle safety course such as the Motorcycle Safety Foundation (MSF) course. This safety course shows that any rider possesses the skills and knowledge applicable to responsible motorcycle riding; hence, this would lead much lesser chances of having an accident. Many companies reward riders with such courses with lowered insurance rates. So, if you haven’t taken one in a while, consider signing up for a course to maximize your chances of lower premiums and all those other motivational benefits.
- Low Mileage Discounts :
Is your usage of your motorbike limited, maybe to the odd weekend or specific seasons in the year? If yes, then you stand a chance of qualifying for low mileage discounts. Insurance companies consider low mileage on a bike as decreasing the chance of accidents; hence, if you ride fewer miles within a year, your insurer might lower the premium you pay. Collect the numbers and notify your insurance provider of the miles you plan to ride in a year to take full advantage of this discount.
- Multiple Policies :
You could also qualify for a premium discount on your motorbike insurance if you have held policies in car, home, or even life insurance for the same provider. Typically, insurance companies will provide great discounts when you bundle policies with them. Thus, you will save not only on your motorbike policy but on all others as well.
- Loyalty Discount :
Insurance companies generally grant loyalty discounts to long-term clients. So, if you are with the same insurance company for a few years, you may receive a discounted price just for being with that company. Check with the insurance provider, as you may qualify for this discount-the more extended time you have remained with the same provider, the better.
- Advanced Rider Discount :
If you’ve been riding for a long time and you’ve been riding without violating most of the rules, then you might be eligible for the advanced rider discount. Generally, an advanced rider discount is given to motorcyclists who have had quite some time riding and have a safe riding history. Insurers consider such riders very low-risk, hence offering them lower rates. This discount is definitely applicable to lower your premium if you have been riding for years and without filing any claims for your motorcycle.
How to Ensure You Are Getting the Best Rate for Motorbike Insurance :
Now you are abreast of some motorbike insurance discounts, and you might be able to lower your premium significantly with them. You need then to take proactive measures to secure yourself the most suitable rate. Here are some ways to ensure you’re getting the best deals on your motorbike insurance:
1.Quote Shop :
Don’t just accept the first quote to come your way. Remember, every insurance company uses their own criteria to come up with premiums; so, company quote is insufficient. By comparing different companies, you may find a price and coverage option that works best for you.
2.Annual Review of Coverage :
Your insurance needs are likely to change over time, so review your coverage every year. If you no longer need any, or if you’ve added safety features to your motorcycle, you might be eligible for some discounts on the premium. Regular policy reviews also ensure that you’re not paying for unnecessary cover.
3.Raise Your Deductible :
By increasing that deductible, however, you can lower your premium because, should a claim arise, you’re prepared to pay more out of pocket to protect your lower premium. The higher the deductible, the more the claim would require in expense from the user, but the monthly premium for the insurance would be much lower.
4.Maintain a Clean Riding Record :
In most cases, your riding past would also be a great determinant of the premium of your motorcycle bike insurance. A few do’s and don’ts when it comes to traffic violations and accidents, which increase the chances of filing a claim, will help to minimize the rates. A clean record will, for instance, tell the insurers that you are such a responsible rider, and they may reward you with discounts.
Final Thoughts :
Cheap motorbike insurance does not need to be a hassle. Knowing which motorbike insurance discounts are available to you and employing a few simple strategies can greatly reduce your premiums while holding on to the coverage you need. Such things are safety gear discounts and anti-theft discounts, and it is worthwhile to know other ways of saving to give yourself the best rate possible.
Additionally, compare quotes and review your coverage regularly to ensure you’re getting the best deal possible. With all these tips and discounts, saving money while riding will become easier.
