Do you want to save money on your yearly motorcycle policy? Then check out these few great tips on how you can save money on your motorcycle insurance.
1. Combine policies whenever possible.
You can save a good amount of money combining auto, home and motorcycle insurance with one company.
2. Keep riding or driving safely.
I know its fun to drive fast but speeding tickets and accidents will likely raise your premiums in the long run. Slow down, be alert and watch your premiums drop over time.
3. Compare rates often.
I personally like to shop for insurance a couple times per year, my rates almost always get lowered a bit when I switch companies – They want your business, see what they will do for you.
4. Be sure you get credit for your motorcycle safety features.
Motorcycle alarms, anti-theft devices, anti-lock brakes, air bags, etc… make sure your policy has
every safety feature listed that your motorcycle actually has. Sometimes agents don’t ask and you have to let them know. Safety features save you money.
5. Make your deductible larger.
This may not be the best idea if you don’t have enough on hand to cover it if need be, but increasing your deductible will nearly always lead to lower rates. If you drive safe and don’t have claims for many years, this really adds up to a lot.
6. Look out for duplicate coverage.
If your credit card provides roadside assistance then make sure its not been added to your motorcycle insurance otherwise you are paying twice for the same service.
7. Is your personal property covered in your home insurance policy?
Then don’t have coverage for the same thing on your motorcycle insurance policy.
8. Keep your policy up to date.
Did you use to ride twenty miles to work every day and now you only drive two? Do you have a motorcycle that just sits in your yard? Let your agent know about changes like this and it’s money in the bank.
9. Don’t pay by monthly installments.
Many insurers now charge extra fees for the “privilege” of paying your bill monthly. Try to pay three to six months at a time, you won’t save a lot with this tip but it may be several dollars a month.
10. Pay for minor damages
If you have a small scratch or bump instead of going through your motorcycle insurance company it is sometimes better to pay for the minor repair yourself so that you don’t loose your no-claims bonus.
Take the time, right now, before you forget, to look into one or all of these money-saving tips. These great ways to save money on your motorcycle insurance, if used regularly, they have the potential to save you thousands of dollars over your lifetime, so start right away!