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 about your riding patterns and habits as any incorrect information can invalidate a claims.
But to help you get the most out of your insurance we have pulled together some top tips to show you just how you can reduce your premium.
1. Get A Garage
If your bike is kept in a secure* garage rather than parked on the road outside your house, then you could reduce your premium by 10%.
* If you're in doubt of your shed's structural integrity and security please check before taking out an insurance policy. Good examples of secure sheds include Asgard sheds and solid wood (timber) buildings.
2. Improve Your Riding
By going back to school and completing an approved advanced riding course like the one run by the Institute of Advanced Motorists, you could get a 10% reduction with certain insurance schemes.
3. Say No to Thousands of Miles
By limiting your mileage you could reduce your annual insurance premium by 12%.
4. Dump Your Pillion
By not carrying a pillion, you could earn some extra discount off your basic insurance policy.
5. Get Secure
Motorcycle theft is responsible for around 40% of all motorcycle insurance claims. The use of a security device such as an alarm/immobiliser, may act as a deterrent to thieves, but it can also reduce your insurance premium by up to 10% when a recognised and approved security device is fitted to the bike.
6. Choose Voluntary Excess
You will have a compulsory excess on your insurance policy. However by choosing a voluntary excess also, it could lower your basic insurance policy.
7. Spread the Cost
Although it will not reduce your insurance, paying by instalments as opposed to one lump sum can help break your premium down into managable payments. Why not take advantage of being able to spread the cost over the year by setting up a Direct Debit.
8. Length of Ownership
Make sure you tell us the correct date of when you first owned the bike. Some schemes offered by Bennetts give discounts depending on length of ownership.