Bike Insurance
Bike Insurance premiums are dependant upon a number of factors, including the insurer, level of cover, and how much of a risk (how likely you are to be involved in an accident) they think you have.
Most of the other factors involved in calculating Bike Insurance are the same as for car owners, including security, where you live, etc.
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A few issues that apply specifically for bike insurance and scooter insurance are:
The age of the rider – insurance costs jump for bikers under 30, increasing dramatically for those under 21, making third party insurance the most suitable cover for younger motorbike, moped, or scooter riders.
Mileage - make sure that you give an accurate indication of the mileage you do, other wise you will end up overpaying. This is especially true for bikers who use a car or other form of transport as their main transport.
Security - Bike security is one of the biggest issues for motorbike owners. Keeping the bike indoors or locked up properly will inevitably result in a cheaper bike insurance quote. Make sure that you take the best security precautions that you can – it may lower you insurance quote.
Protect your no claims - one claim free year for bikers will increase the second years NCD to around 40%. Making sure that you look after your no claims bonus will save you a lot of money in the long run.
Once you have your bike insurance quotes double check the prices and try different policy details to see how it effects the price, for example, a higher excess may bring the insurance premium down substantially.
Some insurers pay cashbacks if you take out your bike, moped, or scooter insurance through cashback shopping sites, so this may be a way to cut your bike insurance costs even further, but it depends on whether the insurer you are looking at makes their insurance products available in this way – it’s definitely worth a look though.
All insurance is competitive, including the bike insurance market, so when you have a better insurance quote from a different supplier ring your existing company & try to get them to better that price – be careful to weigh up the extras, like replacement vehicles though so that you don’t end up comparing apples with oranges!
Some bike insurance companies like eBike even do Pay As You Go insurance policies. With this you get insurance cover a month at a time and if you cancel your cover before your next monthly renewal then there are no cancellation charges, offering a very cost effective way to get bike insurance for riders who don’t do that much mileage.
For bike insurance, moped insurance, and scooter insurance we recommend the following companies:
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