Tips for Saving Money on Your Motorcycle Insurance

by Editor on 08/03/12

Whether you're a hobbyist or full-time biker, you'll need to maintain insurance on your motorcycle before using it on the open road. Insurance protects you from lawsuits if you ever cause an accident; it also helps protect you and your bike if an accident occurs. Motorcycles tend to be cheaper to insure than cars (depending on factors like model, year, miles driven) but premiums can still get costly. Here are a few tips for keeping your insurance costs low:

• Double up on policies. Most insurance companies offer a multi-policy discount, so you can save on all of your accounts if you have motorcycle, auto, homeowners or renter's policies through a single company.
• Drive safely. Insurance companies base your rates on your risk level. If you're at a high risk for accidents, you'll pay more; if you've never been in a collision, you'll pay less. Some motorcycle insurers offer extensive safe driver discounts to people who are accident-free for several years.
• Take a motorcycle safety course. Ask your insurance company if there are any driver's education courses you can take that would reduce the cost of your premiums. Some offer discounts of 10 percent or more for completing these courses.
• LoJack your bike. Installing anti-theft devices, alarms and GPS tracking devices on your motorcycle reduces its likelihood of being stolen and translates into discounts on your monthly premiums.
• Wear safety gear. You should be wearing a helmet and leathers anyway, so this discount should be easy to obtain. Just tell your insurer about the gear you wear, and you should receive a discount from your overall premiums. Your helmet and leathers will also be covered by most insurance policies if you're ever in an accident.

Join an association. Members of motorcycle organizations like the Harley Owners Group, Honda Riders of America or Motorcycle Safety Foundation all pay reduced premiums on their insurance. Check with your insurer to see what clubs or organizations you could join, or check with current clubs you're in to see if there are any known discounts. ??The type of motorcycle you have will also affect the cost of premiums. Cruisers cost less to insure than sport motorcycles because of the reduced risk of serious injury or death. You can get a quote for motorcycle insurance on LaCapitale to start your search for affordable coverage.