Motorcycles are unique as compared to automobiles due to their incredible speed, and the lack of protection that is afforded to the operator. Additionally, many motorcycle owners are younger people with less driving experience. For these reasons, insurance companies are very careful when pricing motorcycle insurance.
You can control several factors that can make you a more favorable candidate for motorcycle insurance in the eyes of an insurance company.
While age is a factor in purchasing any insurance, it is of particular importance when buying motorcycle insurance. If you are a female under age 21 or a male under age 25, your rates will automatically be higher than any other age category. A recommended method to save on your insurance premium is to wait until you are beyond those ages, which can significantly reduce motorcycle insurance premiums.
If you are a new operator of a motorcycle, many insurance companies want to know this and will adjust your premium accordingly. New motorcycle operators are a bigger risk to insurance companies as they are more likely to have accidents. If you are a new owner or operator of a motorcycle, the only way to circumvent this is to shop around at various insurance companies to find the best rate, as not all insurance companies use this decisive factor in the same way.
A rule that applies to any motor vehicle operation is to be a safe driver. Your driving record is one of the first things that an insurance company will look at when evaluating you as a candidate for insurance. Speeding violations, traffic accidents, and insurance claims are three factors that play heavily into an insurance companies evaluation of you. By avoiding these things, you make yourself more attractive to an insurance company.
With some insurance companies, your accident history may have less of an impact on your candidacy if the accident history was in an automobile rather than on a motorcycle. Again, shopping around at different insurance companies is the best way to circumvent this issue.
Many people do not realize that the town where you live may have an impact on the insurance premiums that you pay. If you live in a highly populated town or city, the likelihood that you will encounter other drivers increases. This means that the chances of an accident occurring also increase. If you live in a rural area, you will have less contact with other vehicles, which may mean that you are relatively safer, however you may also live in an area where speed limits are much higher which is another factor of risk for an insurance company.
Consumers can find it frustrating to consider all of these criteria, especially if you or your circumstances put you in an unfavorable light in the eyes of the insurance company. Your tactic then should be to change the things that you can and never ever lie to your insurance company. If you are dishonest with your insurance company regarding any of the questions they ask you, you can be denied insurance altogether. That may be the least of your problems as this is technically insurance fraud, which is a punishable offense.
Although unusual, if you use your motorcycle for any business activities, you will have to disclose this to the insurance company. Business use of a motorcycle will most certainly cause and increase in your insurance rates. If using a motorcycle to conduct business is a choice rather than a necessity, consider an alternate mode of transportation in order to save money on your insurance premiums.
The type of motorcycle you own will also play a factor in your insurance rates. Motorcycles designed for speed and performance are clearly more dangerous than commuter style motorcycles or cruising motorcycles. Accordingly, they will have a higher rate.
Modifications to your motorcycle can also play a factor in your insurance rates. Modifications can be for speed or for looks. If the modifications are for performance, and you have made you motorcycle faster, then your motorcycle is now more dangerous in the eyes of the insurance company.
If your modifications are just for style and looks, you can also see and increase in your insurance rates because now your motorcycle is worth more and their payment to you to repair the motorcycle will be more in the event of an accident.
These suggestions will help to make you a more favorable candidate for insurance companies. Consulting with professional insurance agents and brokers for advice on the best insurer for your situation will be by far the best step you can take to lower your premiums.