9 Factors that Save Money on Motorcycle Insurance
If you?ve recently bought a motorcycle, or you?re on the verge of renewing your motorcycle insurance, you need to consider the following things to get discounts that may be available to your insurer for you to have lower premiums.
But, first, you need to shop around for a reliable insurer and ensure that the company offers policies that suit your needs. While doing this isn?t the most fun thing to do, it is necessary for you to save money on your premiums. Read on to find out about common discounts for motorcycle insurance.
1. Age
Often, insurers offer discounts for those who are over 25 years old because average riding patterns are different for 18 year-olds compared to those who are in their 30s or 40s.
2. Location
There are different risks associated with motorcycle accidents and it includes location. Thus, where you live might affect your rate.
3. Type of Motorcycle
If you own a cruiser instead of a sports bike, you have a lower risk of getting into an accident.
4. Safety Courses
Insurers often give discounts to those who have taken motorcycle safety courses. That is usually recommended when you don?t qualify for other discounts due to certain factors.
5. Security Devices
Install anti-theft devices, GPS recovery system, or alarms on your motorcycle, this will usually get you lower premiums.
6. Traction Control Braking Devices
Insurers usually calculate their rates through statistics. They offer rate reductions to those who have traction control braking devices installed as they have shown to decrease the likelihood of accidents.
7. No Claims or Violations
If you haven?t filed claims or incurred violations in a particular time frame, you may qualify for discounts depending on your provider.
8. Occasional Use of Motorcycles
If you store your motorcycle and don?t often use it for extended periods of time, you can qualify for a ?lay-up? provision where you will only have comprehensive insurance at lower costs during those months.
9. Homeowners
According to statistics, homeowners tend to have lower risks for accidents. Thus, if you are a homeowner, talk to your agent about this discount.
It?s one thing to pay a lower insurance premium, but you also need to make sure that you?re not compromising your coverage. Here at Velox Insurance, we want you to get completely protected by an affordable and dependable insurance policy. Know more about our motorcycle coverage and the discounts we offer. Feel free to call us at 1-855-468-3569 or visit our offices near you and get a quote now!
