Insurance can be one of the biggest expenses you have to pay out when owning a bike, apart from the bike itself.
It's always important to be truthful when telling us about your riding patterns and habits as any incorrect information can invalidate a claim. But to help you get the most out of your insurance we’ve compiled some of the ways you may be able to reduce your premium.
1. Keep your bike out of sight
If you have a garage, then use it. Keeping your bike locked away and out of sight in your garage could reduce your premium. Typically your garage must be of brick or concrete construction, however other construction types can be acceptable such as shipping containers, metal sheds (such as Asgard) and solid wood (timber) buildings on a concrete base; if in doubt please check with one of our knowledgeable agents and get some advice from BikeSocial on all things storage and security here.
2. Improve your riding
By going back to school and completing an approved advanced riding course like MotoScotland or Rapid Training, as well as improving your riding skills and being safer on the road, you may be able to get cheaper motorbike insurance.
3. Accurate mileage
Be realistic and accurate with your annual mileage, people often declare a higher mileage than they actually complete. So be accurate and you could reduce your premium.
4. Get secure
Motorcycle theft is responsible for 30% of all motorcycle insurance claims*. The use of a security device such as an alarm, immobiliser, tracker or lock etc. may act as a deterrent to thieves, but it can also reduce your premium when a recognised and approved security device is fitted and/or used on your bike. Check out BikeSocial’s in-depth guide to motorcycle crime.
5. Choose voluntary excess
You may have a compulsory excess on your insurance policy, however by choosing to apply a voluntary excess in addition, it could lower your premium. Please be aware this is the first amount which you will have to pay for a claim.
6. Length of ownership
Make sure you tell us the correct date of when you first owned your bike. The longer you have owned a bike, the more likely you are to generate a lower premium, as this proves you have experience riding your bike. However, you must be honest and accurate to avoid any issues should a claim arise.
If you own up to 4 bikes, you may be able to insure them all under one multi-bike policy with Bennetts. This may mean that you save money overall, rather than having a separate policy for each bike.
*Source: 4th Dimension