There is little question that motorbike insurance for 18-year-old is expensive, but there are ways that you can lessen the expense considerably. The good news is that as you get older, gain more experience, and maintain a good driving record your insurance costs will drop dramatically. However, there are some things that you can do right now to help lower your motorcycle insurance costs.
Driver Safety Course
This is one of the simplest and best ways to help reduce the cost of your insurance policy. You will need to take a course that is approved by your insurance company. Generally speaking, it will last for a few hours and provide you with valuable safety tips while operating your motorcycle. The result will be a savings of 5% up to 15% off your policy depending on the insurance company. Plus, you’ll get some valuable tips to stay safe while on the road.
State Minimum Coverage
This is another common way to save money is to reduce the coverage to the bare minimum required by the state. However, if you used a loan to purchase your motorcycle, you will not be allowed to reduce the coverage as long as you owe the lender. For those who own their motorbike outright, you can save a considerable amount of money by lowering the requirements down to the minimum required by the state. Click here to learn which type of policy is affordable for teenagers and how we help them to get one.
Raise the Deductible
The deductible is what you pay first before the insurance coverage kicks in if you are in an accident. For example, a deductible of $200 means that you pay the first $200 to repair the damages, and the insurance company pays the rest. By raising the deductible, you will have to pay more out of pocket if your bike needs repairs. However, it also means that you are paying less for the coverage itself. You’ll need to have the money on-hand just in case you are in an accident, but raising your deductible is an excellent way to save money in the long run.
Coverage Only When You Ride
Many teens who ride motorcycles as well as adults only do so on certain days of the week or perhaps certain times of the year. If your motorcycle stays in the garage during the winter or if you only ride your bike on the weekends, you can save a considerable amount on your insurance coverage by choosing temporary coverage. You can tailor your policy to your insurance company to only cover the times when you ride your motorcycle. For example, if your bike stays locked up for the winter months such as from October through April, then you can save a considerable amount on your insurance premiums. Check with your insurance company to see just how much you can save by tailoring the coverage only when you ride.
You can check with your insurance company for more ways to save money when paying for motorbike insurance. Besides, you can also get free quotes from us to see the available least expensive motorcycle coverage.