If motorcycling is one of your passions and your bike is your pride and joy, it stands to reason that you obtain a level of Motorbike Insurance to cover you for every eventuality.
The current economic climate has resulted in more expensive running costs for your motorcycle, but insurance shouldn’t be seen as an area for cost saving. If you don’t have an adequate level of insurance cover for your bike, you could find yourself out of pocket – and off the road – in the event of an accident or theft.
Of course, how much motorbike insurance costs isn't a simple question with one answer, but that doesn't mean you can't understand what influences the cost of your policy. Read on to find out how the price of motorcycle insurance is calculated.
Your insurance questions answered
BikeSocial put their reader's bike insurance questions to Bennetts MD Vince Chaney. You can take a look at his responses to these in the below video.
Under 25s are usually regarded as higher risk riders, and motorcyclists with certain occupations may have to pay a higher premium.
Living in an inner city with a greater volume of traffic could increase the risk of an accident and this is considered a higher risk than quiet rural suburbs.
Make sure you also tell us about any previous claims you may have made on your insurance (including car, van etc.) during the past five years, and if you have any motoring (or other) convictions, including any which are pending.
The completion of advanced riding courses may be able to secure you a discount, as this shows you invested in improving your riding skills and should be safer on the road.
Your No Claims Discount is reflective of the number of years claim free riding you have. The more years you have the better, and this represents a lower risk for insurance purposes.
If you’re on your bike often, you’ll be clocking up more miles and this represents a further risk. Also, whether you commute during busy periods or only ride your bike socially, this will affect your price.
If you want to add another person onto your motorcycle insurance policy (a named rider) you’ll also need to be aware that younger, or higher risk riders, will cause the premium to increase. Learner riders will also increase the overall cost of your policy.
Using a good-quality lock and ideally an alarm will make it far less likely that you could suffer the heartache and hassle of having your motorcycle or scooter stolen, as will keeping it in a secure garage, shed or shipping container when it’s not being ridden. Using security also reduces the chances of losing your no claims discount, helping to keep your premiums as low as possible.