6 ways to get affordable motorcycle insurance

When it comes to insurance, safety is the name of the game. Insurance firms, like you, do not want you to have an accident. As a result, almost everything you can do to improve your own safety, the safety of your motorcycle, or the safety of others will be rewarded with cost-cutting discounts.

1.Safe driver discounts

The most obvious thing you can do is drive safely, staying within your capabilities and mindful of your surroundings. If you have no traffic violations or at-fault injuries, most insurance providers will give you a safe-driver discount.

At CompareInsurance, we go even further by lowering your deductible by 25% for each year that you are loss-free, which will save you a lot of money. (Diminishing deductible is subject to terms, conditions, and restrictions and is not applicable in all states.) Please contact us for more details. (Not available in California or New York.) For example, if you have a $1,000 deductible and have been insured by CompareInsurance for four years without a loss, you would not be required to pay a deductible for a comprehensive or collision loss if you are involved in an accident and need to make a claim later. This results in a $1,000 savings in out-of-pocket expenditures. For doing nothing more than driving safely, that's not bad. Furthermore, if you have an accident after four years of accident-free driving, CompareInsurance accident forgiveness scheme waives the at-fault surcharge on your first at-fault loss.

2.Safety courses and equipment

Completing a safety course or installing safety equipment on your bike are two other ways to save money on safety. Anti-lock braking or anti-theft systems, such as an electronic warning or tracking system, are examples of possible equipment.

3.Improve your level of financial responsibility

Financial responsibility, believe it or not, will help you save money on your premiums. Insurance scoring, which is based on elements of your credit report, is used by many insurance providers to decide how much you pay in premiums. This is because financial responsibility has been shown to be a good indicator of safe driving and the risk of getting into a costly accident. The lower your credit score, the greater your risk and the higher your payments will be. Your attempts to boost your credit score, such as paying bills on time and keeping credit card balances low, would go a long way toward lowering the insurance premiums you pay.

4.Customize your insurance coverage and deductibles.

Not everybody requires the same level of security. You should tailor your policies to suit your unique needs based on your situation and the type of bike you own. If you're financially secure and can comfortably handle a $1,500 threshold for a comprehensive or crash failure, for example, increasing your deductible from $500 to $1,500 would likely reduce your premiums. You could end up with lower monthly premiums and no deductible if you combine a higher deductible with CompareInsurance decreasing deductible policy.

However, when customizing your policy, be careful not to reduce the amount of coverage you need only to save a few dollars; this can backfire. You never know when you'll be involved in an accident and need additional liability coverage.

5.Customer satisfaction should be practiced.

Since the insurance market is competitive, most insurers will happily give you a renewal discount in exchange for your continued company. Since certain advantages, such as CompareInsurance reducing deductibles and accident-forgiveness schemes, accrue over time, it may be financially advantageous to keep the relationship going. Most insurance providers will give you a discount if you insure more than one motorcycle.

6.Look around.

Don't automatically conclude that the insurance firms with the best ads will also have the best rates or operation. Request quotes from various companies—they're all free and take just a few minutes to complete. Also, make certain you're comparing apples to apples. Find out what's included for free with a standard policy and what you'll have to pay extra for. Slight differences in quoting can result in significant premium differences. However, bear in mind that low-cost motorcycle insurance isn't always the best option. In the long run, good customer service and a business that stands by you during the claim process can be worth a few extra bucks.