Saving Money on Your Motorcycle Insurance: Proven Strategies to Try

Riding a motorcycle is a thrilling experience, but it comes with a price – motorcycle insurance. While it’s crucial to have adequate coverage to protect yourself and your bike, the cost can add up quickly. But don’t worry, there’s good news!

You can easily score some motorcycle insurance discounts and save some cash. From safe driving bonuses to multi-policy discounts, there are numerous ways to cut down your insurance expenses. So, get ready to learn about the top discounts you can get for your motorcycle insurance.

Safety Course Completion

One popular discount motorcycle insurance program is completing a recognized safety driving course. Since riding motorcycles are inherently riskier in terms of physical harm than standard vehicles, most insurance companies offer discounts to bike owners who complete such safety courses or defensive driving course. In fact, most states have mandated that insurance companies offer discounts for those who complete these recognized courses.

This is one of the best ways to save on motorcycle insurance for young riders who have turned 18.

The discount can vary between companies but usually falls in the 5% to 15% range. Also, remember that if you completed the course within the past three years, it might apply to your next insurance company if you decide to switch. Be sure to check with your insurance company first to see which safety course they recognize so that you will earn the discount.

Insurance for More than One Motorcycle or Vehicle

You can earn a decent motorcycle insurance discount if you have more than one bike and choose to use the same insurance company. Many companies will deduct 10% – 15% off the premiums if you have more than one bike to be covered. The same generally applies to a vehicle insurance discount, so you will want to check with your insurance company and find all applicable discounts.

Remember, not every insurance company puts all their discounts prominently on their website. So, be sure to call and check to see if they have this particular one.

Bundling

This is a very common way to save on all of your policies. If the same insurance company covers your home and vehicles, you can add your motorcycle and earn an additional discount. You can save considerably when you combine all your vehicles, motorcycles, and home under one company. Generally speaking, the discount for the total will be 20% to 25% on average, and this does not include other bike insurance discount savings that may be included.

When you search to save on motorcycle insurance, check with the company that covers your home or vehicles and see how much bundling can work for you.

Safe Rider Discount

This popular motorcycle insurance discount rewards you for driving without an accident or getting a ticket in a pre-set period. However, the time you must go without an incident varies depending on each insurance company. With some, going 60 months or five years will save you up to 10%, while others will apply smaller motorcycle insurance discounts yearly for a pre-set number of years.

Basically, this is a way to reward riders who have gone past a certain period without suffering from an accident or moving violation which would cause their rates to go up. The truth is that many riders go for many years without getting a ticket or being in an accident, and this type of coverage works very well for them. Check with your insurance company to see if they include this type of rider in their policies.

Layup Discount

One of the more interesting online motorcycle insurance discounts is the layup because you only operate your motorcycle for part of the year. Many people never drive their motorcycles during the late fall, winter, and early spring because it is too cold. If your motorcycle does not leave the garage or storage area during this time, you may qualify for a layup discount that can save you considerable money.

The layup discount may save you the equivalent of the time your motorcycle is not in operation. If you do not drive it for six months, covering the winter months, you can save a considerable amount on your motorcycle insurance. Read here for more about seasonal motorcycle insurance.

Theft Protection

This is one of the most popular policies, as motorcycles are relatively easier to steal than vehicles. The motorcycle can be lifted and placed into a truck or van in seconds. If you have theft coverage for your motorcycle, you can save up to 20% by installing a GPS device on the bike. The GPS will allow the bike to be located and recovered, assuming the thieves do not spot the device on the motorcycle.

Some insurance carriers will waive the deductible if you place a GPS on your motorcycle. If the coverage is activated, you will not pay any out-of-pocket expenses.

Airbag & Anti-Lock Brake Discount

Another popular way to get a discount on motorcycle insurance is by including airbags and anti-lock brakes. Admittedly, these features are far more common on vehicles, so they are automatically included in an auto insurance discount. However, there is a growing movement to put these safety features on motorcycles as they provide additional safety and protection.

Anti-lock brakes help prevent greater damage or injury when losing control of the bike through the quick application of the brakes. The airbag helps soften the impact on the rider in case of a head-on collision. Having one or both features often produces a 5% to 10% discount.

Wearing a Helmet & More

You can find other ways to earn discount motorcycle insurance savings which starts by wearing a helmet which provides little additional savings, as well as other common methods that include the following;

• Raising the Deductible
• Mature Rider Discount
• Transferring your Insurance to Another Company
• Becoming a Member of a Recognized Motorcycle Affiliation and More

Check with your insurance company to see the discounts you can earn for motorcycle insurance.