Motorcycle owners understand the sense of freedom that comes along with owning a motorbike. However, one inescapable aspect of enjoying such awesome pieces of machinery is the necessity to own motorcycle insurance. Before you cruise the Carolina coast or ascend the Appalachians, saving a few dollars on your coverage will make your next ride even better.

 

#1 Lay-Up Coverage

Wintertime in the Carolinas is not the optimal season to head out on the open road on your motorcycle. If you keep your motorcycle in storage or stashed away in your garage until the spring, ask your insurance agent if your insurance company can “lay-up” your motorcycle. Certain coverages will be removed, and your premium will drop substantially. However, it is very important to note your motorcycle will no longer be legal to ride on public roads until coverage is restored.

 

#2 Check Your Credit

Your credit history is one of many factors determining your insurance premium. Low credit scores have historically translated to higher risk customers and higher premiums. Uncovering inaccuracies in your credit history and increasing your score could result in lower insurance premiums.

 

#3 Shop Your Insurance

The insurance industry is constantly evolving. While one insurance company may be increasing their rates as a result of poor claims experience, others may be looking to increase market share by offering competitive premiums. Take advantage of opportunities in the marketplace by obtaining multiple motorcycle insurance quotes from a reputable and licensed insurance agent.

 

#4 Bundle Your Coverage

You most likely have insurance for other assets you own, such as a home or automobile. Placing your motorcycle insurance with the same company that insures your home or automobile will almost certainly warrant a nice discount. Also, ask your insurance agent about other products that might provide a discount if you purchase them like life insurance or certain products.

 

#5 Secure Your Motorcycle

Because of their size, motorcycles are often the target of theft. Several motorcycle insurers will provide a discount if either factory installed or aftermarket security systems have been installed. The most desirable security measures are immobilizer and recovery systems.

 

#6 Increase Your Deductible

If your motorcycle is stolen or damaged, you will responsible to pay for a portion of the total claim. Your contribution towards the cost to repair or replace your motorcycle is called a deductible. The lower your deductible, the more your insurance company is on the hook for, and the more premium they will charge. Considering increasing your deductible to reduce your premium and save the difference.

 

#7 Complete a Training Course

Becoming a safe rider reduces the risk to your insurance company. By enrolling in and successfully completing a motorcycle training course, your insurer may reward you with lower premiums. More importantly, your improved riding skills will make you safer on the road.

 

#8 Check Your Driving Record

Your past driving history serves as an indication of the potential risk an insurance company takes when insuring you. Traffic accidents and moving violations can quickly increase the amount you pay for motorcycle insurance. If you have a spotty driving history, you might have to wait it out until they fall beyond the usual 3 to 5-year history insurance companies review. However, if you find a mistake in your driving records with the state, having them corrected could save some serious money on your insurance premiums.

 

#9 Ask for Age-Related Discounts

Make sure you are receiving all age-related discounts. Do not wait until you reach your 50’s to ask either. Many insurance companies begin offering premium reductions as early as your mid-to-late 20’s.

 

#10 Purchase a Different Motorcycle

The type of motorcycle you own, and its engine size has an impact on your insurance premiums. In general, sport bikes tend to incur higher rates than cruising or dirt bikes. For motorcycles of the same type, the engine size will be the next determining rate factor. The larger the engine, the higher the premium. Although you may not replace your current motorcycle just to save on insurance, keep this important fact in mind the next time you are in the market for a new ride.

 

#11 Look for Membership Discounts

Memberships in certain organizations may grant you discounts with your motorcycle insurer. General organizations such as AAA and AARP have discount arrangements with a number of insurance companies. Join national motorcycle clubs such as the Harley Owners Group or the American Motorcycle Association can provide additional benefits including possible insurance discounts.

 

Enjoy the Ride

Insurance is an important part of motorcycle ownership. By making sure you have some coverage at good premium will make riding your motorcycle just a little bit more enjoyable.

 

To learn more about reducing your motorcycle insurance premium, contact the professionals with ProtectiveAgency.com at (877) 739-9367. Our licensed insurance team will be happy to answer any questions you have.