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Insurance | 26.03.2014 - 22:05

Motorcycle Insurance: How to Lower Your Rate

Buying a motorcycle can be lighter, less expensive alternative to a car. Make sure your insurance payment doesn't break the bank.

If you are looking to buy a motorcycle, your insurance rate needs to be factored into cost. There are a lot of factors that lead to the cost of your insurance. Here are a few ways to lower your insurance rate on your motorcycle.

Less extravagant bike

The more exotic the bike or the bigger the engine, the more it will cost to insure. Sport bikes cost more than cruise bikes and newer bikes cost more than older bikes (unless it's too old then it's more expensive). As you consider which bike to purchase, think about how much each will be to insure. Factor that into your decision.

Choose a higher deductible

Your monthly premium goes down if you agree to take on more of the risk in case of an actual accident. If you have a policy with a $1,000 deductible, it will be significantly cheaper month-by-month than a policy with a $250 deductible. Should an accident occur, you will pay more before the insurance kicks in, so there is a slightly higher risk, but if that never happens, you've found an easy way to reduce your payments every month. If you are confident in your biking abilities, think about a higher deductible.

Carry only essential coverage

Every state has a minimum amount of required liability coverage, but beyond that, there are all sorts of whistles and bells you can add on to your insurance or remove from it. Comprehensive and collision coverage is often not needed, and removing it from your policy can greatly reduce your monthly payments. Look closely at your policy and decide if there's something you don't actually need.

Get certification and training

Many insurance companies will discount riders who have a motorcycle license, as well as riders who take a motorcycle safety course once every 3-5 years. Taking the extra steps to go through the certification and training can get you great deals on your insurance.


Bundle your insurance

Motorcycle, car, and home insurance can often all be provided by the same company, and bundling them all together will give you a discount you can't get if you work with three separate companies. Check with your current insurance company on your bundling savings.


Lower motorcycle insurance rates come the longer you've been insured. If you're a safe rider and have been using the same bike for several years, your rates will be lower than someone who just got a brand new bike. Drive safe, be careful, and save!


Kara Masterson is a freelance writer from West Jordan, Utah. She graduated from the University of Utah and enjoys writing about business and finance and spending time with her dog, Max. Information credited to Joseph L. Hoffman, a Wrongful Death Attorney in Roswell, GA.

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