Motorcycle Insurance Guide

When it comes to choosing motorcycle insurance you may already have decided what kind of cover you want, but it’s always good to get a quote from a variety of different companies. Fully comprehensive insurance for your bike isn’t always as expensive as you might think. It’s worth asking yourself how much the repairs would cost if you were to have an accident.

If your bike’s not worth that much then Third party fire and theft is worth considering if your bike’s not worth a fortune. Third party cover is typically even cheaper, but you will have a hefty bill if your bike is stolen or catches fire. Fully comprehensive insurance is a sensible choice if you’re looking to insure a bike that is likely to cost you a fortune in repairs – usually fully faired and under five years old.

How do I keep the cost low?
When comparing motorcycle insurance quotes you should make sure you are comparing like-for-like policies. This simply means you should only compare the cost once you have determined what the insurance covers. Ask for information about the value of coverage as well as the excess amount. The excess is the amount you will have to pay out of pocket for each claim filed before the insurance will pay the remainder.

If you are able to store your motorcycle inside a storage unit or garage, then do so. Most insurance companies will give you additional discounts for your motorcycle being in a secure location that reduces the chances of it getting hit, vandalized, stolen, or damaged by the natural elements. Many insurance companies will give you an added discount if you won’t be riding your motorcycle during severe winter months. However, keep this coverage in mind because you will likely be tempted to get that bike out when a warm spell appears for a few days during the winter months.

Keeping a clean driving record both in your motor vehicles and on your motorcycle will save you a great deal of money on your motorcycle insurance. Insurance companies love to reward people who have remained a low risk. If you have paid your premiums on time over the term of your current insurance and have not have any claims or moving violations then you stand to make a great saving when you switch motorcycle insurance providers.

If you are just learning to ride a motorcycle but don’t have a valid motorcycle license yet, you may want to consider purchasing Learner Motorcycle Insurance. This is a great way to ensure you are covered in the event of an injury or accident. While this type of insurance is going to cost you more than basic motorcycle insurance, you can’t put a price tag on safety.


What details should I enter?
YourHomeBills.com recommend that you are honest and do not stretch the truth. It’s always tempting to change a detail or two on an application form but it’s not worth the risk because you might end up needing to make a claim.

This aside, we recommend that you use information about yourself that is positive. For example, old age is a good thing and riding experience is rewarded by motorcycle insurance companies. The category of your bike will determine exactly how much your policy is going to cost and are typically based on power, value, rarity and age of the bike.

Insurers calculate the value based on the bike specification so we recommend that you list the real value and don’t exaggerate the worth as the insurer will have this information to hand. You will also be asked where you live and an evaluation is made based on your postcodes risk-rated according to accident and theft statistics.

YourHomeBils.com recommends that you also provide a truthful estimate of your yearly mileage. If you have advanced riding certificates then this is important information that will help drive down the overall cost of the policy. If you want to lower the premium further then offer to pay an additional voluntary excess in exchange for a lower monthly premium – the insurer will like this.

Modifications to your bike
If you have made modifications to your bike then, contrary to popular belief, it doesn’t have to increase your insurance premiums. Most of the common modifications have little or no effect on the overall monthly premium, but if you fail to let your insurer know about a modification at the time of quote it could result in them refusing to pay out on a claim – particularly if this was a cause of the claim.

Common modifications include crash bars, legal after-market exhausts, wheels, improved suspension, improved braking systems and small increases in engine capacity. However there are a few modifications that may result in a premium hike; engine capacity increases over five percent, nitrous oxide injections and custom-made motorcycles (the insurer won’t have any previous statistics and will make it difficult to insure accurately).